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Report No. 11

93. Protest.-

(1) When a note or bill has been dishonoured by non-acceptance or non­payment, the holder may, within a reasonable time, cause such dishonour to be noted and certified by a notary. Such certificate is called a protest.

[Section 100, para. 1]

(2) When the acceptor of a bill has become insolvent or his credit has been publicly impeached, before the maturity of the bill, the holder may, within a reasonable time, cause a notary to demand better security of the acceptor, and on its being refused may, within a reasonable time, cause such facts to be noted and certified as aforesaid. Such certificate is called a protest for better security.

[Section 100, para. 2]



Negotiable Instruments Act, 1881 Back




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