Presentment by or to agent, representative of deceased, or assignee of insolvent
Full Text
Presentment by or to agent, representative of deceased, or assignee of insolvent.—Presentment for acceptance or payment may be made to the duly authorized agent of the drawee, maker or acceptor, as the case may be, or, where the drawee, maker or acceptor has died, to his legal representative, or, where he has been declared an insolvent, to his assignee.
Plain English Summary
Allows presentment for acceptance or payment to be legally made to an authorized agent, a deceased payer's legal representative, or an insolvent payer's assignee.
Key Legal Elements
- Presentment can be made to a duly authorized agent of the drawee, maker, or acceptor
- If the drawee, maker, or acceptor is deceased, presentment can be made to their legal representative
- If the drawee, maker, or acceptor is insolvent, presentment can be made to their assignee
Practical Note
Provides practical routes for presentment when the primary party cannot receive it directly due to death, insolvency, or delegation. Presenting to these authorized substitutes is legally valid and counts as proper presentment to hold other parties liable.
हिंदी पाठ
एजेंट, मृतक के प्रतिनिधि या दिवालिया के समनुदेशिती (assignee) द्वारा या उसको प्रस्तुतीकरण।—स्वीकृति या भुगतान के लिए प्रस्तुतीकरण, स्थिति के अनुसार आहारी, निर्माता या स्वीकर्ता के विधिवत अधिकृत एजेंट को, या जहां आहारी, निर्माता या स्वीकर्ता की मृत्यु हो गई हो, वहां उसके कानूनी प्रतिनिधि (legal representative) को, या जहां उसे दिवालिया घोषित किया गया हो, वहां उसके समनुदेशिती (assignee / receiver) को किया जा सकता है।