Report No. 11
84. Dishonour by non-payment.-
An instrument is said to be dishonoured by non-payment-
(a) when the maker (in the case of a note), the acceptor (in the case of a bill) or the drawee (in the case of a cheque) makes default in payment upon being duly required to pay the same; or
(b) when the instrument is deemed to be dishonoured under section 15.