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Section 69 - Instrument payable at specified place, Section 70 - Presentment where no exclusive place specified : Negotiable Instruments Act 1881

 

 

What is Instrument payable at specified place? What is Presentment where no exclusive place specified? Instrument payable at specified place and Presentment where no exclusive place specified are defined under Section 69 and 70 of Negotiable Instruments Act 1881

Section 69 of Negotiable Instruments Act 1881: "Instrument payable at specified place"

A promissory note or bill of exchange made, drawn or accepted payable at a specified place must, in order to charge the maker or drawer thereof, be presented for payment at that place.

 

Section 70 of Negotiable Instruments Act 1881: "Presentment where no exclusive place specified"

A promissory note or bill of exchange, not made payable as mentioned in sections 68 and 69, must be presented for payment at the place of business (if any), or at the usual residence, of the maker, drawee or acceptor thereof, as the case may be.

 

Negotiable Instruments Act 1881

CHAPTER V
OF PRESENTMENT

Section 61 - Presentment for acceptance

Section 62 - Presentment of promissory note for sight

Section 63 - Drawee's time for deliberation

Section 64 - Presentment for payment

Section 65 - Hours for presentment

Section 66 - Presentment for payment of instrument payable after date or sight

 

 

Section 67 - Presentment for payment of promissory note payable by installments

Section 68 - Presentment for payment of instrument payable at specified place and not elsewhere

Section 69 - Instrument payable at specified place

Section 70 - Presentment where no exclusive place specified

 

 

Section 71 - Presentment when maker, etc., has no known place of business or residence

Section 72 - Presentment of cheque to charge drawer

Section 73 - Presentment of cheque to charge any other person

Section 74 - Presentment of instrument payable on demand

Section 75 - Presentment by or to agent, representative of deceased, or assignee of insolvent

Section 75A - Excuse for delay in presentment for acceptance or payment

 

 

Section 76 - When presentment unnecessary

Section 77 - Liability of banker for negligently dealing with bill presented for payment

CHAPTER VI
OF PAYMENT AND INTEREST

Section 78 - To whom payment should be made

Section 79 - Interest when rate specified

Section 80 - Interest when no rate specified

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