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
Delay in making presentment for payment 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, presentment must be made with reasonable diligence.
holder
“holder” means the payee or indorsee of a bill or note who is in possession of it, or the bearer thereof;
Presentment for payment is dispensed with —
where, after the exercise of reasonable diligence, presentment, as required by this Act, cannot be effected;
where the drawee is a fictitious person;
as regards the drawer, where the drawee or acceptor 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;
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;
by waiver or presentment, express or implied.
The fact that the holder has reason to believe that the bill will, on presentment, be dishonoured, does not dispense with the necessity for presentment.
Bills of Exchange 30
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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