1950_BILLS_OF_EXCHANGE_ORDINANCE — Page 19

Bills of Exchange.

of payment is specified, presentment must be made. to them all; (g) 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;

(h) where authorized by agreement or usage, a present-

ment through the Post Office is sufficient.

[CAP. 19

delay or

ment for

46. (1) Delay in making presentment for payment is Excuses for excused when the delay is caused by circumstances beyond non-present- the control of the holder, and not imputable to his default, payment. 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 dis- honoured 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 accep- tor 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.

pay-

47. (1) A bill is dishonoured by non-payment- (a) when it is duly presented for payment and

ment is refused or cannot be obtained; or (b) when presentment is excused and the bill is over-

due and unpaid.

(2) Subject to the provisions of this Ordinance, when a bill is dishonoured by non-payment, an immediate right

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Dishonour by non-payment.