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Section 115 - Drawee in case of need, Section 116 - Acceptance and payment without protest : Negotiable Instruments Act 1881

 

 

What is Drawee in case of need? What is Acceptance and payment without protest? Drawee in case of need and Acceptance and payment without protest are defined under Section 115 and 116 of Negotiable Instruments Act 1881

Section 115 of Negotiable Instruments Act 1881: "Drawee in case of need"

Where a drawee in case of need is named in a bill of exchange, or in any indorsement thereon, the bill is not dishonoured until it has been dishonoured by such drawee.

 

Section 116 of Negotiable Instruments Act 1881: "Acceptance and payment without protest"

A drawee in case of need may accept and pay the bill of exchange without previous protest.

 

Negotiable Instruments Act 1881

Section 101 - Contents of protest

Section 102 - Notice of protest

Section 103 - Protest for non-payment after dishonour by non-acceptance

Section 104 - Protest of foreign bills

 

 

Section 104A - When noting equivalent to protest

CHAPTER X
OF REASONABLE TIME

Section 105 - Reasonable time

Section 106 - Reasonable time of giving notice of dishonour

Section 107 - Reasonable time for transmitting such notice

CHAPTER XI
OF ACCEPTANCE AND PAYMENT FOR HONOUR AND REFERENCE IN CASE OF NEED

Section 108 - Acceptance for honour

Section 109 - How acceptance for honour must be made

Section 110 - Acceptance not specifying for whose honour it is made

 

 

Section 111 - Liability of acceptor for honour

Section 112 - When acceptor for honour may be charged

Section 113 - Payment for honour

Section 114 - Right of payer for honour

Section 115 - Drawee in case of need

Section 116 - Acceptance and payment without protest

 

 

CHAPTER XII
OF COMPENSATION

Section 117 - Rules as to compensation

CHAPTER XIII
SPECIAL RULES OF EVIDENCE

Section 118 - Presumptions as to negotiable instruments

Section 119 - Presumption on proof of protest

Section 120 - Estoppel against denying original validity of instrument

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