www.Aaptaxlaw.com
 
 
 

Section 76 - When presentment unnecessary, Section 77 - Liability of banker for negligently dealing with bill presented for payment : Negotiable Instruments Act 1881

 

 

When presentment unnecessary? Liability of banker for negligently dealing with bill presented for payment? When presentment unnecessary and Liability of banker for negligently dealing with bill presented for payment are defined under Section 76 and 77 of Negotiable Instruments Act 1881

Section 76 of Negotiable Instruments Act 1881: "When presentment unnecessary"

No presentment for payment is necessary, and the instrument is dishonoured at the due date for presentment, in any of the following cases :

(a) if the maker, drawee or acceptor intentionally prevents the presentment of the instrument, or

if the instrument being payable at his place of business, he closes such place on a business day during the usual business hours, or

if the instrument being payable at some other specified place, neither he nor any person authorized to pay it attends at such place during the usual business hours, or

if the instrument not being payable at any specified place, he cannot after due search be found;

(b) as against any party sought to be charged therewith, if he has engaged to pay notwithstanding non-presentment;

(c) as against any party if, after maturity, with knowledge that the instrument has not been presented-

he makes a part payment on account of the amount due on the instrument, or promises to pay the amount due thereon in whole or in part,

or otherwise waives his right to take advantage of any default in presentment for payment;

(d) as against the drawer, if the drawer could not suffer damage from the want of such presentment.

 

Section 77 of Negotiable Instruments Act 1881: "Liability of banker for negligently dealing with bill presented for payment"

When a bill of exchange, accepted payable at a specified bank, has been duly presented there for payment and dishonoured, if the banker so negligently or improperly keeps, deals with or delivers back such bill as to cause loss to the holder, he must compensate the holder for such loss.

 

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

Home     About Us     Privacy Policy     Disclaimer    Contact Us  Sitemap