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-payment —
when it is duly presented for payment and payment is refused or cannot be obtained; or
when presentment is excused and the bill is overdue and unpaid.
Subject to the provisions of this Act, when a bill is dishonoured by non-payment, and immediate right of recourse against the drawer or indorsers accrues to the holder.
holder
“holder” means the payee or indorsee of a bill or note who is in possession of it, or the bearer thereof;
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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