www.Aaptaxlaw.com
 
 
 

Section 92 - Dishonour by non-payment

Section 93 - By and to whom notice should be given : Negotiable Instruments Act 1881

 

 

What is Dishonour by non-payment? By and to whom notice should be given? Dishonour by non-payment and By and to whom notice should be given are defined under Section 92 and 93 of Negotiable Instruments Act 1881

Section 92 of Negotiable Instruments Act 1881: "Dishonour by non-payment"

A promissory note, bill of exchange or cheque is said to be dishonoured by non-payment when the maker of the note, acceptor of the bill or drawee of the cheque makes default in payment upon being duly required to pay the same.

 

Section 93 of Negotiable Instruments Act 1881: "By and to whom notice should be given"

When a promissory note, bill of exchange or cheque is dishonoured by non- acceptance or non-payment, the holder thereof, or some party thereto, who remains liable thereon, must give notice that the instrument has been so dishonoured to all other parties whom the holder seeks to make severally liable thereon, and to some one of several parties whom he seeks to make jointly liable thereon.

Nothing in this section renders it necessary to give notice to the maker of the dishonoured promissory note or the drawee or acceptor of the dishonoured bill of exchange or cheque.

 

Negotiable Instruments Act 1881

Section 81 - Delivery of instrument on payment, or indemnity in case of loss

CHAPTER VII
OF DISCHARGE FROM LIABILITY ON NOTES, BILLS AND CHEQUES

Section 82 - Discharge from liability

Section 83 - Discharge by allowing drawee more than forty-eight hours to accept

Section 84 - When cheque not duly presented and drawer damaged thereby

 

 

Section 85 - Cheque payable to order

Section 85A - Drafts drawn by one branch of a bank on another payable to order

Section 86 - Parties not consenting discharged by qualified or limited acceptance

Section 87 - Effect of material alteration

 

 

Section 88 - Acceptor or indorser bound notwithstanding previous alteration

Section 89 - Payment of instrument on which alteration is not apparent

Section 90 - Extinguishment of rights of action on bill in acceptor's hands

CHAPTER VIII
OF NOTICE OF DISHONOUR

Section 91 - Dishonour by non-acceptance

Section 92 - Dishonour by non-payment

Section 93 - By and to whom notice should be given

Section 94 - Mode in which notice may be given

Section 95 - Party receiving must transmit notice of dishonour

 

 

Section 96 - Agent for presentment

Section 97 - When party to whom notice given is dead

Section 98 - When notice of dishonour is unnecessary

CHAPTER IX
OF NOTING AND PROTEST

Section 99 - Noting

Section 100 - Protest

Home     About Us     Privacy Policy     Disclaimer    Contact Us  Sitemap