$42.

ness closed at twelve o'clock, it was held by the Privy Council, that two hours of the twenty-four not having run on Saturday, when business closed, the defendants were justified in leaving the bill with the drawees till Monday. This section applies to all cases in which presentment for acceptance is made, though it may not have been necessary to present. 43. (1.) A bill is dishonoured by non-acceptance- Dishonour by (a.) when it is duly presented for acceptance (a), ance, and its and such an acceptance as is prescribed by this Act (b) is refused or cannot be obtained; or (b.) when presentment for acceptance is excused and the bill is not accepted (c).

(2.) Subject to the provisions of this Act (d) when a bill is dishonoured by non-acceptance, an immediate right of recourse against the drawer and indorsers accrues to the holder, and no presentment for payment is necessary.

(a.) Vide § 41 (1).

(b.) Vide § 17, 19, and 44.

(c.) Although presentment is excused, where the drawee is dead or bankrupt, his executor or trustee may accept, vide § 41.

(d.) The holder has no right of recourse where the drawer and prior indorsers have been discharged by failure to present in due time, vide § 40; or where the bill has been materially altered, vide § 64; or where the indorsers have indorsed without recourse, vide § 16; or where they have not capacity to contract, vide § 22; and where the bill has been accepted for honour supra protest his right of recourse is suspended. The holder may take recourse, either by action or by summary diligence, whether presentment for acceptance be necessary or not. Vide note (a) on § 98. In order to make his recourse effectual, the holder must take the steps prescribed in §§ 48, 49, 50, and 51. Although not necessary, presentment for payment may be made.

non-accept

consequences.

$ 44.

Duties as to qualified acceptances.

44. (1.) The holder (a) of a bill may refuse to take a qualified acceptance (b), and if he does not obtain an unqualified acceptance may treat the bill as dishonoured by non-acceptance.

(2.) Where a qualified acceptance is taken, and the drawer or an indorser has not expressly or impliedly authorised the holder to take a qualified acceptance, or does not subsequently assent thereto, such drawer or indorser is discharged from his liability on the bill.

The provisions of this subsection do not apply to a partial acceptance, whereof due notice has been given (c). Where a foreign bill (d) has been accepted as to part, it must be protested as to the balance (e).

(3.) When the drawer or indorser of a bill receives notice of a qualified acceptance, and does not within a reasonable (f) time express his dissent to the holder he shall be deemed to have assented thereto.

(a.) Vide § 2.

(b.) Vide § 19.

(c.) Vide § 49, as to the requisites of notice of dishonour. (d.) This provision only applies where a bill on the face of it appears to be foreign, vide § 51 (2), and § 4.

(e.) The mode of protesting is regulated by § 51. The necessity for a protest is determined according to the rules laid down in § 72 (3).

(f) Reasonable time depends on the circumstances of each

case.

Rules as to

presentment

45. Subject to the provisions of this Act (a) a bill

for payment. must be duly presented for payment. If it be not so

presented the drawer and indorsers shall be discharged (b).

A bill is duly presented for payment which is presented in accordance with the following rules :-—

(1.) Where the bill is not payable on demand, presentment must be made on the day it falls due (c). (2.) Where the bill is payable on demand (d), then, subject to the provisions of this Act (e), presentment must be made within a reasonable time after its issue (ƒ) in order to render the drawer liable, and within a reasonable time after its indorsement (f), in order to render the indorser liable.

In determining what is a reasonable time, (g) regard shall be had to the nature of the bill, the usage of trade with regard to similar bills, and the facts of the particular case.

(3.) Presentment must be made by the holder (ƒ) or by some person authorised to receive payment on his behalf at a reasonable hour (h) on a business day (i), at the proper place as herein-after defined, either to the person designated by the bill as payer, or to some person authorised to pay or refuse payment on his behalf if with the exercise of reasonable diligence such person can there be found (j).

4.) A bill is presented at a proper place :

(a.) Where a place of payment is specified in the
bill and the bill is there presented (k).

(b.) Where no place of payment is specified, but

$45.

§ 45.

the address of the drawee or acceptor is given in the bill, and the bill is there presented. (c.) Where no place of payment is specified, and

no address given, and the bill is presented at the drawee's or acceptor's place of business if known, and if not, at his ordinary residence if known.

(d.) In any other case (7) if presented to the drawee or acceptor wherever he can be found, or if presented at his last known place of business or residence,

(5.) Where a bill is presented at the

proper place, and after the exercise of reasonable diligence no person authorised to pay or refuse payment can be found there, no further presentment to the drawee or acceptor is required.

(6.) Where a bill is drawn upon, or accepted by two

or more persons who are not partners, and no place of payment is specified, presentment must be made to them all (m).

(7.) Where the drawee or acceptor of a bill is dead, and no place of payment is specified, presentment must be made to a personal representative, if such there be, and with the exercise of reasonable diligence he can be found.

(8.) Where authorised by agreement or usage a presentment through the post office is sufficient (n).

(a.) Presentment for payment is not required in certain cases, vide § 46. It is not required where the bill has been dishonoured by non-acceptance, vide § 43, unless it has been afterwards accepted for honour, vide §§ 66 and 67.

(b.) The drawer is not discharged by non-presentment, where the drawer and drawee are the same persons or a person not having capacity and contract. In these cases, the holder may treat the bill as a note, vide § 5 (2), and the drawer is then considered to be the maker, whose liabilities are those of an acceptor, vide § 89 (2).

(c.) A bill not payable on demand must be presented on last day of grace, vide § 14.

(d.) Vide § 10.

(e.) Vide notes (a) and (b).

(f) Vide § 2.

(g.) Vide note (d) on § 40, and note (e) on § 86.

(h.) "Reasonable hours" means "bank hours," if the acceptor or drawee be a banker, and business hours if he is a merchant, and if he be not in business it is a jury question, Chitty on Bills, p. 215, and note (c) on § 41.

(i) Vide § 93.

(j.) Presentment for payment can only be made by the bearer of a bill payable to bearer, or by the payee or indorsee of a bill payable to order. A person holding under a forged indorsement is not a holder, vide § 24. If the holder do not himself present for payment, the person he sends must be authorised to give up the bill and to discharge the payer. The payer may be either the drawee or acceptor, or the person with whom the bill is domiciled, where the bill is made payable elsewhere than at the drawee's residence or place of business. The holder is not bound to look for a person authorised to make payment except at the proper place, as defined in subsection 4. It is not necessary to present to a referee in case of need, whose name is given on the bill, vide § 15. Where the acceptor or drawee is bankrupt, presentment must be made to him, Thomson on Bills, p. 305, and in the case of a company being wound up, presentment is made to the liquidator, in re Agra Bank ex parte Tondeur, L. R. 5, Eq. 160.

(k.) The place of payment may have been added by the drawee on accepting, vide § 19, and presentment is to be made there, although the drawee or acceptor be dead, vide subsection (4).

$ 45.