Older Persons Act, 2006
R 385
Bills of Exchange Act, 1964 (Act No. 34 of 1964)Chapter IGeneral duties of the holder48. When notice of dishonour may be delayed or dispensed with |
| (1) | Delay in giving notice of dishonour is excused if the delay is caused by circumstances beyond the control of the party giving notice and not imputable to his default, misconduct, or negligence: Provided that if the cause of delay ceases to operate, the notice must be given with reasonable diligence. |
| (2) | Notice of dishonour is dispensed with— |
| (a) | if after the exercise of reasonable diligence, notice as required by this Act cannot be given to or does not reach the drawer or indorser sought to be held liable; |
| (b) | by express or implied waiver, either before the time of giving notice has arrived, or after omission to give due notice; |
| (c) | as regards the drawer in the following cases, namely— |
| (i) | where drawer and drawee are the same person; |
| (ii) | where the drawee is a fictitious person or a person not having capacity to contract; |
| (iii) | where the drawer is the person to whom the bill is presented for payment; |
| (iv) | where the drawee or acceptor is not bound, as between himself and the drawer, to accept or pay the bill; |
| (v) | where the drawer has countermanded payment; |
| (d) | as regards an indorser in the following cases, namely— |
| (i) | where the drawee is a fictitious person or a person not having capacity to contract, and such indorser was aware thereof at the time he indorsed the bill; |
| (ii) | where such indorser is the person to whom the bill is presented for payment; |
| (iii) | where the bill was accepted or made for the accommodation of such indorser. |
