| (1) |
A bill is duly presented for acceptance if it is presented in accordance with the following rules, namely— |
| (a) |
the presentment must be made by or on behalf of the holder at a reasonable hour on a business day, and before the bill is overdue, to the drawee, or to a person authorized to accept or refuse acceptance on his behalf; |
| (b) |
if a bill is addressed to two or more drawees, who are not partners, presentment must be made to them all, unless one has authority to accept for all, in which case presentment may be made to him only; |
| (c) |
if the drawee is dead, presentment may be made to his executor; |
| (d) |
if the drawee is insolvent, presentment may be made to him or his trustee; |
| (e) |
a presentment by post, if in due course, is sufficient. |
| (2) |
Presentment in accordance with the provisions of subsection (1) is excused, and a bill may be treated as dishonoured by non-acceptance— |
| (a) |
if the drawee is dead or insolvent, or is a fictitious or non-existing person or a person not having capacity to contract; |
[Paragraph (a) substituted by section 12 of Act 56 of 2000.]
| (b) |
if, after the exercise of reasonable diligence, such presentment cannot be effected; or |
| (c) |
if, when irregular presentment is made, acceptance is refused on some other ground. |
| (3) |
The fact that the holder has reason to believe that the bill, on presentment, will be dishonoured, does not excuse presentment. |
Statistics Act, 1999
