Instrument payable at specified place
Full Text
Instrument payable at specified place.—A promissory note or bill of exchange made, drawn or accepted payable at a specified place must, in order to charge the maker or drawer thereof, be presented for payment at that place.
Plain English Summary
Requires an instrument payable at a specified place to be presented at that location to charge the maker or drawer of the instrument.
Key Legal Elements
- Applies to promissory notes or bills of exchange payable at a specified place
- The instrument must be presented for payment at that specified place
- Presentment at that place is necessary to hold the maker or drawer liable
Practical Note
Distinction from Section 68. Section 68 says 'specified place and not elsewhere' (applies to charge ANY party, including endorsers). Section 69 applies when a place is specified but without restrictive words like 'not elsewhere'; in this case, presentment at that place is required to charge the primary maker or drawer.
हिंदी पाठ
विनिर्दिष्ट स्थान पर देय लिखत।—यदि कोई वचन-पत्र या विनिमय-पत्र किसी विनिर्दिष्ट स्थान पर देय होने के रूप में बनाया, लिखा या स्वीकार किया गया है, तो उसके निर्माता या आहर्ता (maker or drawer) को उत्तरदायी बनाने के लिए उसे उसी विनिर्दिष्ट स्थान पर भुगतान के लिए प्रस्तुत किया जाना चाहिए।