Presentment when maker, etc., has no known place of business or residence
Full Text
Presentment when maker, etc., has no known place of business or residence.—If the maker, drawee or acceptor of a negotiable instrument has no known place of business or fixed residence, and no place is specified in the instrument for presentment for acceptance or payment, such presentment may be made to him in person wherever he can be found.
Plain English Summary
Allows presentment for acceptance or payment to be made to the payer in person anywhere they can be found, if they have no known business address or residence.
Key Legal Elements
- Applies when the maker, drawee, or acceptor has no known business place or residence
- Requires that no specific place of presentment is designated in the instrument
- Allows presentment to be made to the person directly wherever they can be found
Practical Note
Final fallback rule for presentment. If the debtor has absconded or has no home/office, the holder can present the instrument to them personally wherever they are spotted. If they still fail to pay, it constitutes dishonour.
हिंदी पाठ
प्रस्तुतीकरण जब निर्माता आदि का कोई ज्ञात व्यावसायिक स्थान या निवास स्थान न हो।—यदि परक्राम्य लिखत के निर्माता, आहारी (drawee) या स्वीकर्ता (acceptor) का कोई ज्ञात व्यावसायिक स्थान या निश्चित निवास स्थान नहीं है, और स्वीकृति या भुगतान के लिए प्रस्तुतीकरण के लिए लिखत में कोई स्थान निर्दिष्ट नहीं है, तो ऐसा प्रस्तुतीकरण उन्हें व्यक्तिगत रूप से (in person) कहीं भी किया जा सकता है जहां वे मिल सकें।