Reasonable time for transmitting such notice
Full Text
Reasonable time for transmitting such notice.—A party receiving notice of dishonour, who seeks to enforce his right against a prior party, transmits the notice within a reasonable time if he transmits it within the same time after its receipt as he would have had to give notice if he had been the holder.
Plain English Summary
Gives an intermediate indorser the same window of time upon receiving a notice of dishonour to forward it upstream to prior parties as allowed to an original holder.
Key Legal Elements
- Applies to an intermediate party receiving notice of dishonour
- Party gets an identical time window following receipt of notice to transmit to prior parties
- Preserves the right of recourse up the chain of endorsements
Practical Note
Guarantees each indorser their own independent window under Section 106. When defending an endorser sued on an instrument, verifying the exact timeline of transmission down the endorsement chain can reveal whether any link broke the chain of prompt transmission, thereby discharging subsequent obligors.
हिंदी पाठ
ऐसी सूचना का पारेषण करने का युक्तियुक्त समय।—अनादर की सूचना प्राप्त करने वाला कोई पक्षकार, जो किसी पूर्ववर्ती पक्षकार के विरुद्ध अपने अधिकार को प्रवर्तित कराना चाहता है, सूचना को युक्तियुक्त समय के भीतर पारेषित किया हुआ तब माना जाता है जब वह उसकी प्राप्ति के पश्चात उतने ही समय के भीतर उसे पारेषित कर देता है जितना समय उसे सूचना देने के लिए मिलता यदि वह धारक होता।