Section 74Part 3 — Cheques on a Banker
Presentment of cheque for payment
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Subject to this Act —
where a cheque is not presented for payment within a reasonable time of its issue, and the drawer or the person on whose account it is drawn had the right, at the time of such presentment, as between the drawer or the person on whose account it is drawn and the banker, to have the cheque paid, and suffers actual damage through the delay, the drawer or the person on whose account it is drawn is discharged to the extent of such damage, that is to say, to the extent to which such drawer or person is a creditor of such banker to a larger amount than the drawer or the person on whose account it is drawn would have been had such cheque been paid;
in determining what is a reasonable time, regard shall be had to the nature of the instrument, the usage of trade and of bankers and the facts of the particular case; and
the holder of such cheque, as to which such drawer or person is discharged, shall be a creditor, in lieu of such drawer or person, of such banker, to the extent of such discharge and entitled to recover the amount from such banker.