296:
Non-acceptance.
Dishonour by non-acceptance and its consequences.
Duties as to qualified acceptances.
No. 3 of 1885.
BILLS OF EXCHANGE.
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 reasonable diligence, such presentment cannot be effected;
(c) where, although the presentment has been irregular, acceptance has been refused on some other ground.
(3) The fact that the holder has reason to believe that the bill, on presentment, will be dishonoured does not excuse presentment.
42. When a bill is duly presented for acceptance and is not accepted within the customary time, the person presenting it must treat it as dishonoured by non-acceptance. If he does not, the holder shall lose his right of recourse against the drawer and indorsers.
43.--(1). A bill is dishonoured by non-acceptance
(a) when it is duly presented for acceptance, and such an acceptance as is prescribed by this Ordinance is refused or cannot be obtained; or
(b) when presentment for acceptance is excused and the bill is not accepted.
(2) Subject to the provisions of this Ordinance, when a bill is dishonoured by non-acceptance, an immediate right of recourse against the drawer and indorsers accrues to the holder, and no presentment for payment is necessary.
44.-(1) The holder of a bill may refuse to take a qualified acceptance, and, if he does not obtain an unqualified acceptance, may treat the bill as dishonoured by non-acceptance.
296:
Non-accept-
ance.
Dishonour by non-accept- ance and its consequences.
Duties as to qualified acceptances.
No. 3 of 1885.
BILLS OF EXCHANGE.
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 present- ment 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-accept-
ance,-
1
•
(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 reasonable diligence, such presentment cannot be effected;
(c) where, although the presentment has been irregular, acceptance has been refused on some other ground.
(3) The fact that the holder has reason to believe that the bill, on presentment, will be dishonoured does not excuse presentment.
42. When a bill is duly presented for acceptance and. is not accepted within the customary time, the person presenting it must treat it as dishonoured by non-acceptance. If he does not, the holder shall lose his right of recourse against the drawer and indorsers.
43.--(1). A bill is dishonoured by non-acceptance-
(a) when it is duly presented for acceptance, and such an acceptance as is prescribed by this Ordinance is refused or cannot be obtained; or ·
(b) when presentment for acceptance is excused and the bill is not accepted.
(2) Subject to the provisions of this Ordinance, when a. bill is dishonoured by non-acceptance, an immediate right of recourse against the drawer and indorsers accrues to the holder, and no presentnient for payment is necessary.
44.-(1) The holder of a bill may refuse to take a quali- fied acceptance, and, if he does not obtain an unqualified acceptance, may treat the bill as dishonoured by non-accept-
ance!
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