Holder's right to duplicate of lost bill
Full Text
Holder's right to duplicate of lost bill.—Where a bill of exchange has been lost before it is over-due, the person who was the holder of it may apply to the drawer to give him another bill of the same tenor, giving security to the drawer, if required, to indemnify him against all persons whatever in case the bill alleged to have been lost shall be found again.
If the drawer on request as aforesaid refuses to give such duplicate bill, he may be compelled to do so.
Plain English Summary
Entitles the holder of a lost, non-overdue bill of exchange to obtain a duplicate from the drawer by providing an indemnity bond if required.
Key Legal Elements
- Applies when a bill of exchange is lost before it becomes overdue
- The holder can demand a duplicate bill of the same tenor from the drawer
- The holder must provide security/indemnity to the drawer if requested
- The drawer can be legally compelled to issue the duplicate if they refuse
Practical Note
Provides remedy for lost bills. The holder must offer sufficient indemnity before demanding a duplicate. If the drawer refuses, the holder can file a civil suit to compel the drawer to issue a duplicate.
हिंदी पाठ
खोए हुए बिल की दूसरी प्रति प्राप्त करने का धारक का अधिकार।—जहां कोई विनिमय-पत्र उसके अतिदेय (overdue) होने से पहले खो गया है, वहां वह व्यक्ति जो उसका धारक था, आहर्ता (drawer) से उसी प्रकार (tenor) का दूसरा बिल देने के लिए आवेदन कर सकता है, और यदि आवश्यकता हो तो आहर्ता को सुरक्षा (security) प्रदान करेगा ताकि यदि खोया हुआ बिल दोबारा मिल जाए तो किसी भी व्यक्ति के दावों के खिलाफ आहर्ता को क्षतिपूर्ति (indemnify) की जा सके।
यदि आहर्ता पूर्वोक्त अनुरोध पर ऐसा दूसरा बिल देने से मना करता है, तो उसे ऐसा करने के लिए मजबूर किया जा सकता है।