Protest for non-payment after dishonour by non-acceptance
Full Text
Protest for non-payment after dishonour by non-acceptance.—All bills of exchange drawn payable at some other place than the place mentioned as the residence of the drawee, and which are dishonoured by non-acceptance, may, without further presentment to the drawee, be protested for non-payment, in the place specified for payment, unless paid before or at maturity.
Plain English Summary
Allows a bill dishonoured by non-acceptance to be protested for non-payment at its specified payment place upon maturity without re-presenting it to the drawee.
Key Legal Elements
- Bill drawn payable at a place other than drawee's residence
- Bill previously dishonoured by non-acceptance
- No further presentment to drawee is required
- May be protested for non-payment at specified place at or after maturity
Practical Note
Dispenses with futile repeat presentment. Once a drawee has refused to accept a bill payable elsewhere, the law does not require the holder to seek out the drawee again at maturity; a protest for non-payment at the place of payment suffices.
हिंदी पाठ
अप्रतिग्रहण द्वारा अनादर के पश्चात असंदाय के लिए प्रत्याख्यान।—वे सभी विनिमय-पत्र, जो प्रतिग्रहीता के निवास के रूप में उल्लिखित स्थान से किसी अन्य स्थान पर देय होने के लिए लिखे गए हैं, और जो अप्रतिग्रहण द्वारा अनादृत हो जाते हैं, प्रतिग्रहीता को आगे कोई उपस्थापन किए बिना, संदाय के लिए विनिर्दिष्ट स्थान पर असंदाय के लिए प्रत्याख्यान किए जा सकेंगे, जब तक कि उनका संदाय परिपक्वता पर या उससे पहले न कर दिया जाए।