Excuse for delay in presentment for acceptance or payment
Full Text
Excuse for delay in presentment for acceptance or payment.—Delay in presentment for acceptance or payment is excused if the delay is caused by circumstances beyond the control of the holder, and not imputable to his default, misconduct or negligence. When the cause of delay ceases to operate, presentment must be made within a reasonable time.
Plain English Summary
Excuses delay in presenting an instrument for acceptance or payment if caused by circumstances beyond the holder's control, requiring presentment once the cause ends.
Key Legal Elements
- Delay in presentment is excused if caused by circumstances beyond the holder's control
- The delay must not be due to the holder's own default, misconduct, or negligence
- Presentment must be made within a reasonable time once the cause of delay ceases
Practical Note
Protects holders against force majeure. Circumstances like natural disasters, war, sudden banking strikes, or severe illness (not caused by holder's negligence) excuse delay. The holder must act promptly once normal conditions return.
हिंदी पाठ
स्वीकृति या भुगतान के लिए प्रस्तुतीकरण में देरी के लिए माफी/बचाव।—स्वीकृति या भुगतान के लिए प्रस्तुतीकरण में देरी को माफ कर दिया जाता है यदि देरी धारक के नियंत्रण से बाहर की परिस्थितियों के कारण हुई हो, और उसकी अपनी चूक, दुराचार या लापरवाही के कारण न हुई हो। जब देरी का कारण समाप्त हो जाता है, तो प्रस्तुतीकरण उचित समय के भीतर किया जाना चाहिए।