Section 15Part 2 — Bills of Exchange
Case of need
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The drawer of a bill, and any indorser, may insert therein the name of a person to whom the holder may resort in case of need, that is to say, in case the bill is dishonoured by non-acceptance or non-payment. Such person is called the “referee in case of need”. It is in the option of the holder to resort to the referee in case of need or not, as the holder may think fit.
Defined Terms
referee in case of need