Section 43Part 2 — Bills of Exchange
Dishonour by non-acceptance and its consequences
←→ Navigate · Click subsection badges to collapse · Press ? for help
A bill is dishonoured by non-acceptance —
when it is duly presented for acceptance, and such an acceptance as is prescribed by this Act is refused, or cannot be obtained; or
when presentment for acceptance is excused and the bill is not accepted.
Subject to this Act, when a bill is dishonoured by non-acceptance, an immediate right of recourse against the drawer and indorsers accrues to the holder, and no presentment for payment is necessary.
Defined Terms
dishonour by non-acceptance