In force2023 Revised EditionCurrent version · 2023 Revised EditionSee versions on Attorney General's Chambers(opens the publisher’s site)
Bills of Exchange Act · 2023 Revised Edition · Part 2
Bills of Exchange Act · 2023 Revised Edition · Part 2
Official textFrom Attorney General's Chambers, unchanged
A bill is dishonoured by non-acceptance —
when it is duly presented for acceptance, and such an acceptance as is prescribed by this Act is refused or cannot be obtained; or
when presentment for acceptance is excused and the bill is not accepted.
Subject to the provisions of this Act 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.
acceptance
“acceptance” means an acceptance completed by delivery or notification;
acceptance
“acceptance” means an acceptance completed by delivery or notification;
holder
“holder” means the payee or indorsee of a bill or note who is in possession of it, or the bearer thereof;
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