Legislative Dictionary - D
Judicial Dictionary
Legislative Dictionary
Dishonour by non-acceptance
| Category | D |
|---|---|
| Title | Dishonour by non-acceptance |
| Details | A bill of exchange is said to be dishonoured by non-acceptance when the drawee, or one of several drawees not being partners, makes default in acceptance upon being duly required to accept the bill, or where presentment is excused and the bill is not accepted. Where the drawee is incompetent to contract, or the acceptance is qualified, the bill may be treated as dishonoured.
[See section 91, the Negotiable Instruments Act, 1881 (Act No. XXVI of 1881)]. |
| Created On | June 4, 2011, 4:41 AM |
| Hits | 317 |