Special Investigating Units and Special Tribunals Act, 1996
R 385
Bills of Exchange Act, 1964 (Act No. 34 of 1964)Chapter IGeneral duties of the holder37. When presentment for acceptance is necessary, and delay in such presentment |
| (1) | If a bill is payable after sight, presentment for acceptance is necessary in order to fix the maturity of such bill. |
| (2) | If a bill expressly stipulates that it shall be presented for acceptance, or if a bill is drawn payable elsewhere than at the place of residence or business of the drawee, it must be presented for acceptance before it can be presented for payment. |
| (3) | In no other case is presentment for acceptance necessary in order to render liable any party to the bill. |
| (4) | If the holder of a bill, drawn payable elsewhere than at the place of residence or business of the drawee, has no time, with the exercise of reasonable diligence, to present the bill for acceptance before presenting it for payment on the day that it falls due, the delay, caused by presenting the bill for acceptance before presenting it for payment, is excused and does not discharge the drawer and indorsers. |
