Report No. 11
87. Time and place of notice.-
(1) A notice of dishonour must be given within a reasonable time after dishonour, at the place of business, or, (in case the party has no place of business), at the residence, of the party for whom it is intended.
[Section 94, para. 1, part]]
(2) When the instrument is deposited with an agent for presentment, the agent is entitled to the same time to give notice to his principal as if he were the holder giving notice of dishonour, and the principal is entitled to a further like period to give notice of dishonour.