Presentment for payment of instrument payable at specified place and not elsewhere
Full Text
Presentment for payment of instrument payable at specified place and not elsewhere.—A promissory note, bill of exchange or cheque made, drawn or accepted payable at a specified place and not elsewhere must, in order to charge any party thereto, be presented for payment at that place.
Plain English Summary
Directs that if an instrument is made or accepted payable only at a specified place, it must be presented at that exact location to hold any party liable.
Key Legal Elements
- Applies to instruments drawn or accepted payable at a specified place and not elsewhere
- Presentment must be made at that exact specified place
- Failure to present at that place relieves all parties from liability
Practical Note
Enforces place restrictions. If the instrument states it is payable 'at Bank Branch X only and not elsewhere', presentation at any other branch or location is invalid, discharging the parties from liability if dishonoured elsewhere.
हिंदी पाठ
विनिर्दिष्ट स्थान पर और कहीं नहीं देय लिखत के भुगतान के लिए प्रस्तुतीकरण।—यदि कोई वचन-पत्र, विनिमय-पत्र या चेक किसी निर्दिष्ट स्थान पर और कहीं नहीं (at a specified place and not elsewhere) देय होने के रूप में बनाया, लिखा या स्वीकार किया गया है, तो उसके किसी भी पक्षकार को उत्तरदायी बनाने के लिए उसे उसी निर्दिष्ट स्थान पर भुगतान के लिए प्रस्तुत किया जाना चाहिए।