Section 116Procedural
Acceptance and payment without protest
Full Text
Acceptance and payment without protest.—A drawee in case of need may accept and pay the bill of exchange without previous protest.
Plain English Summary
Authorizes a designated drawee in case of need to accept or pay the bill without requiring prior formal protest.
Key Legal Elements
- Applies to a named drawee in case of need
- Can accept and pay the bill directly
- Prior formal protest by notary is not required
Practical Note
Contrasts with general acceptance/payment for honour (Sections 108 & 113), which strictly require prior noting or protest. A drawee in case of need is an express appointee of the instrument's parties, thereby exempt from the need for notarial intervention.
हिंदी पाठ
प्रत्याख्यान के बिना प्रतिग्रहण और संदाय।—ज़रूरत की दशा में द्रावी पूर्व प्रत्याख्यान के बिना भी विनिमय-पत्र को प्रतिग्रहीत कर सकता है और उसका संदाय कर सकता है।