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The document discusses the rules around presentment for payment of bills and instruments under commercial law. It outlines when presentment is necessary and not necessary to charge persons primarily and secondarily liable. It also lists the requisites of a valid presentment, such as being made by the holder or authorized person.

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Huzzain Pangcoga
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12 views

72

The document discusses the rules around presentment for payment of bills and instruments under commercial law. It outlines when presentment is necessary and not necessary to charge persons primarily and secondarily liable. It also lists the requisites of a valid presentment, such as being made by the holder or authorized person.

Uploaded by

Huzzain Pangcoga
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as TXT, PDF, TXT or read online on Scribd
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(a) If the bill is dishonored upon pre-

sentment for payment.


(b)
Notice of dishonor must be given
to person secondarily liable.
(in)
If the bill is a foreign bill, protest for
dishonor by non-payment
must be
made.
Steps to Charge Acceptor for Honor and Referee
in case of Need
1)
Protest for non-payment by the drawee (Sec.
165).
15.03.
RULES ON PRESENTMENT FOR PAYMENT
a)
WHEN NOT NECESSARY
Presentment for payment is not necessary to
charge persons primarily liable. But it is necessary
to charge persons secondarily liable, except:
1)
as to drawer, under Section 79, where he has
no right to expect or require that the drawee
or acceptor will pay the instrument;
2)
as to indorser, under Section 80, where the
instrument was made or accepted for his
accommodation and he has no reason to
expect that the instrument will be paid if
presented (2011 Bar);
3)
when dispensed with under Section 82, such
as: (i) where, after the exercise of reasonable
diligence, presentment cannot be made; (ii)
where the drawee is a fictitious person; and
(ili) by waiver of presentment, express or
implied; and
b)
4)
when the instrument has been dishonored
by non-acceptance.
REQUISITES
1)
Presentment must be by the holder, or by
some person authorized to receive payment
on his behalf.

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