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 holder40. Failure to accept within customary time |
| (a) | If a bill is duly presented for acceptance and it is not accepted within the customary time, the person presenting it must treat it as dishonoured by non-acceptance. |
| (b) | If such person does not do so, the holder shall lose his right of recourse against the drawer and indorsers. |
