How acceptance for honour must be made
Full Text
How acceptance for honour must be made.—A person desiring to accept for honour must, by writing on the bill under his hand, declare that he accepts under protest the protested bill for the honour of the drawer or of a particular indorser whom he names, or generally for honour.
Plain English Summary
Prescribes the mandatory formal writing on the bill required to constitute a valid acceptance for honour, specifying the party honoured.
Key Legal Elements
- Must be in writing on the bill under acceptor's hand
- Must declare acceptance of protested bill under protest
- Must state whether for the drawer, a named endorser, or generally for honour
Practical Note
Mere oral commitment or a side letter does not satisfy Section 109. The declaration must physically appear on the bill itself under the signature of the acceptor for honour to create enforceable statutory obligations.
हिंदी पाठ
साखार्थ प्रतिग्रहण कैसे किया जाना चाहिए।—साखार्थ प्रतिग्रहण करने की इच्छा रखने वाले व्यक्ति को अपने हस्ताक्षर से बिल पर लिखकर यह घोषित करना होगा कि वह प्रत्याख्यान किए गए बिल को आहर्ता के अथवा किसी विशिष्ट पृष्ठांकक के (जिसका वह नाम निर्दिष्ट करे) साखार्थ, या सामान्य रूप से साखार्थ प्रतिग्रहीत करता है।