THE HONGKONG GOVERNMENT GAZETTE, 9TH MAY, 1885.
A bill is duly presented for payment which is presented in accordance with the following rules—
(1.) Where the bill is not payable on demand, presentment must be made on the day it falls due.
(2.) Where the bill is payable on demand, then, subject to the provisions of this Ordinance, presentment must be made within a reasonable time after its issue in order to render the drawer liable, and within a reasonable time after its indorsement, in order to render the indorser liable. In determining what is a reasonable time, regard shall be had to the nature of the bill, the usage of trade with regard to similar bills, and the facts of the particular case.
(3.) Presentment must be made by the holder or by some person authorised to receive payment on his behalf at a reasonable hour on a business day, at the proper place as hereinafter defined, either to the person designated by the bill as payer, or to some person authorised to pay or refuse payment on his behalf if with the exercise of reasonable diligence such person can there be found.
(4.) A bill is presented at the proper place:
(a.) Where a place of payment is specified in the bill and the bill is there presented.
(b.) Where no place of payment is specified, but the address of the drawee or acceptor is given in the bill, and the bill is there presented.
(c.) Where no place of payment is specified and no address given, and the bill is presented at the drawee's or acceptor's place of business if known, and if not, at his ordinary residence if known.
(d.) In any other case if presented to the drawee or acceptor wherever he can be found, or if presented at his last known place of business or residence.
(5.) Where a bill is presented at the proper place, and after the exercise of reasonable diligence no person authorised to pay or refuse payment can be found there, no further presentment to the drawee or acceptor is required.
(6.) Where a bill is drawn upon, or accepted by two or more persons who are not partners, and no place of payment is specified, presentment must be made to them all.
(7.) Where the drawee or acceptor of a bill is dead, and no place of payment is specified, presentment must be made to a personal representative, if such there be, and with the exercise of reasonable diligence he can be found.
(8.) Where authorised by agreement or usage a presentment through the post office is sufficient.
46. (1.) Delay in making presentment for payment is excused when the delay is caused by circumstances beyond the control of the holder, and not imputable to his default, misconduct, or negligence. When the cause of delay ceases to operate, presentment must be made with reasonable diligence.
(2.) Presentment for payment is dispensed with—
(a.) Where, after the exercise of reasonable diligence, presentment, as required by this Ordinance, cannot be effected,
The fact that the holder has reason to believe that the bill will, on presentment, be dishonoured, does not dispense with the necessity for presentment.
(b.) Where the drawee is a fictitious person.
(c.) As regards the drawer, where the drawee or acceptor is not bound, as between himself and the drawer, to accept or pay the bill, and the drawer has no reason to believe that the bill would be paid if presented.
(d.) As regards an indorser, where the bill was accepted or made for the accommodation of that indorser, and he has no reason to expect that the bill would be paid if presented.
(e.) By waiver of presentment, express or implied.
Excuses for delay or non-presentment for payment:
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