CAP. 19]
[s. 51 cont.]
Duties of holder as regards drawee or acceptor.
Bills of Exchange.
tested at the place to which it is returned, and on the day of its return, if received during business hours, and, if not received during business hours, then not later than the next business day; (b) when a bill drawn payable at the place of business or residence of some person other than the drawee has been dishonoured by non-acceptance, it must be protested for non-payment at the place where it is expressed to be payable, and no further presentment for payment to, or demand on, the drawee is necessary.
(7) A protest must contain a copy of the bill, and must be signed by the notary making it, and must specify- (a) the person at whose request the bill is protested; (b) the place and date of protest, the cause or reason for protesting the bill, the demand made, and the answer given, if any, or the fact that the drawee or acceptor could not be found.
(8) Where a bill is lost or destroyed or is wrongly detained from the person entitled to hold it, protest may be made on a copy or written particulars thereof.
(9) Protest is dispensed with by any circumstance which would dispense with notice of dishonour. Delay in noting or protesting 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, the bill must be noted or protested with reasonable diligence.
52. (1) When a bill is accepted generally, presentment for payment is not necessary in order to render the acceptor liable.
(2) When by the terms of a qualified acceptance presentment for payment is required, the acceptor, in the absence of an express stipulation to that effect, is not discharged by the omission to present the bill for payment on the day that it matures.
(3) In order to render the acceptor of a bill liable, it is not necessary to protest it or that notice of dishonour should be given to him.
378
CAP. 19]
[s. 51 cont.]
Duties of holder as regards drawee or acceptor.
Bills of Exchange.
tested at the place to which it is returned, and on the day of its return, if received during business hours, and, if not received during business hours, then not later than the next business day; (b) when a bill drawn payable at the place of business or residence of some person other than the drawee has been dishonoured by non-acceptance, it must be protested for non-payment at the place where it is expressed to be payable, and no further present- ment for payment to, or demand on, the drawee is necessary.
(7) A protest must contain a copy of the bill, and must be signed by the notary making it, and must specify- (a) the person at whose request the bill is protested; (b) the place and date of protest, the cause or reason
for protesting the bill, the demand made, and the answer given, if any, or the fact that the drawee or acceptor could not be found.
(8) Where a bill is lost or destroyed or, is wrongly detained from the person entitled to hold it, protest may be made on a copy or written particulars thereof.
(9) Protest is dispensed with by any circumstance which would dispense with notice of dishonour. Delay in noting or protesting 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, the bill must be noted or protested with reasonable diligence.
52. (1) When a bill is accepted generally, present- ment for payment is not necessary in order to render the acceptor liable.
(2) When by the terms of a qualified acceptance pre- sentment for payment is required, the acceptor, in the absence of an express stipulation to that effect, is not dis- charged by the omission to present the bill for payment on the day that it matures.
(3) In order to render the acceptor of a bill liable, it is not necessary to protest it or that notice of dishonour should be given to him.
378
-
No comments yet.
Private notes are available after approval.