When acceptor for honour may be charged
Full Text
When acceptor for honour may be charged.—An acceptor for honour cannot be charged unless the bill has at its maturity been presented to the drawee for payment, and has been dishonoured by him, and noted or protested for such dishonour.
Plain English Summary
Bars recovery from an acceptor for honour unless the bill was duly presented to the drawee at maturity, dishonoured, and officially noted or protested.
Key Legal Elements
- Bill must be presented to original drawee for payment at maturity
- Drawee must have dishonoured the bill by non-payment
- Dishonour must be formally noted or protested before proceeding against acceptor for honour
Practical Note
Mandatory condition precedent for litigation. A plaintiff cannot proceed against an acceptor for honour directly at maturity without first proving presentment to the drawee, drawee's refusal, and formal protest/noting thereof.
हिंदी पाठ
साखार्थ प्रतिग्रहीता को कब प्रभारित किया जा सकेगा।—साखार्थ प्रतिग्रहीता को तब तक दायी नहीं ठहराया जा सकता जब तक कि बिल परिपक्वता पर संदाय के लिए द्रावी को प्रस्तुत न किया गया हो, और उसने उसका अनादर न कर दिया हो, तथा ऐसे अनादर का टिप्पण या प्रत्याख्यान न करा लिया गया हो।