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Section 33 - Only drawee can be acceptor except in need or for honour, Section 34 - Acceptance by several drawees not partners : Negotiable Instruments Act 1881

 

 

What is the meaning of Only drawee can be acceptor except in need or for honour? What is Acceptance by several drawees not partners? Only drawee can be acceptor except in need or for honour and Acceptance by several drawees not partners are defined under Section 33 and 34 of Negotiable Instruments Act 1881

Section 33 of Negotiable Instruments Act 1881: "Only drawee can be acceptor except in need or for honour"

No person except the drawee of a bill of exchange, or all or some of several drawees, or a person named therein as a drawee in case of need, or an acceptor for honour, can bind himself by an acceptance

 

Section 34 of Negotiable Instruments Act 1881: "Acceptance by several drawees not partners"

Where there are several drawees of a bill of exchange who are not partners, each of them can accept it for himself, but none of them can accept it for another without his authority.

 

Negotiable Instruments Act 1881

Section 21 - At sight, On presentment, After sight

Section 22 - Maturity

Section 23 - Calculating maturity of bill or note payable so many months after date or sight

Section 24 - Calculating maturity of bill or note payable so many days after date or sight

Section 25 - When day of maturity is a holiday

 

 

CHAPTER III
PARTIES TO NOTES, BILLS AND CHEQUES

Section 26 - Capacity to make, etc., the promissory notes, etc

Section 27 - Agency

Section 28 - Liability of agent signing

Section 29 - Liability of legal representative signing

Section 30 - Liability of drawer

 

 

Section 31 - Liability of drawee of cheque

Section 32 - Liability of maker of note and acceptor of bill

Section 33 - Only drawee can be acceptor except in need or for honour

Section 34 - Acceptance by several drawees not partners

Section 35 - Liability of indorser

Section 36 - Liability of prior parties to holder in due course

 

 

Section 37 - Maker, drawer and acceptor principals

Section 38 - Prior party a principal in respect of each subsequent party

Section 39 - Suretyship

Section 40 - Discharge of indorser's liability : Negotiable Instruments Act 1881

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