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 holder50. Duties of holder towards acceptor as regards presentment for payment, protest and notice of dishonour, and towards payer on payment of bill |
| (1) | If a bill is accepted generally, presentment for payment is not necessary in order to render the acceptor liable. |
| (2) | If by the terms of a qualified acceptance, presentment for payment is required, the acceptor, in the absence of an express stipulation to that effect, is not discharged by an omission to present the bill for payment on the day that it matures. |
| (3) | It is not necessary, in order to render the acceptor of a bill liable, to protest such bill or to give notice of dishonour to such acceptor. |
| (4) | Subject to the provisions of section 43A, when a holder of a bill presents it for payment, he shall exhibit the bill to the person from whom he demands payment, and when a bill is paid, the holder shall forthwith deliver it to the party paying it. |
[Sub-section (4) substituted by section 15 of Act 56 of 2000.]
