ORDINANCE No. 9 of 1885 . 2 1865
Bills of Exchange.
presenting it for payment on the day that it falls due, the delay caused
by presenting the bill for acceptance before presenting it for payment is
excused, and does not discharge the drawer and indorsers .
40. ( 1. ) Subject to the provisions of this Ordinance , when a bill Time for pre
senting bill
payable after sight is negotiated, the holder must either present it for payable after
sight.
acceptance or negotiate it within a reasonable time.
( 2. ) If he do not do so, the drawer and all indorsers prior to that
holder are discharged .
(3. ) In determining what is a reasonable time within the meaning
of this section, regard shall be had to the nature of the bill , the usage of
trade with respect to similar bills , and the facts of the particular case.
41. ( 1. ) A bill is duly presented for acceptance which is presented Rules as to
presentment
in accordance with the following rules : for accept
ance, and
excuses for
(a. ) The presentment must be made by or on behalf of the
non-present
holder to the drawee or to some person authorised to ment.
accept or refuse acceptance on his behalf at a reasonable
hour on a business day and before the bill is overdue :
(b. ) Where a bill is addressed to two or more drawees, who
are not partners, presentment must be made to them all ,
unless one has authority to accept for all, then present
ment may be made to him only :
(c. ) Where the drawee is dead , presentment may be made to
his personal representative :
(d. ) Where the drawee is bankrupt, presentment may be made
to him or to his trustee or assignee.
(e. ) Where authorised by agreement or usage, a presentment
through the Post Office is sufficient.
(2. ) Presentment in accordance with these rules is excused, and
a bill
may be treated as dishonoured by non- acceptance
(a. ) Where the drawee is dead or bankrupt, or is a fictitious
person or a person not having capacity to contract by
bill :
(b. ) Where, after the exercise of a reasonable diligence, such
presentment cannot be effected :