Dishonour by non-acceptance, Business Law and Ethics

Dishonour by Non-Acceptance

The drawee is not prepared to meet the bill, such he will return it for the holder by means of a note to this effect, such the bill is then so said to be dishonoured through non-acceptance. Conversely the holder then knows like the debtor has provided him a valueless scrap of such paper, and will like commence proceedings in opposition to him as  see the debtor, the drawer of the bill, whether not the drawee like for recover his debt. Well exactly, that action is not an action on the debt although an action on the bill, so such to in drawing the bill the drawer like "engages such in due presentment then so it will be accepted and such paid according just its tenor and such whether it is dishonoured he will compensate the holder...like " (Section 55(1) there.

In Set status, whether the bill can be treated as dishonoured through non-acceptance lacking ever having been presented just to acceptance. Because these state of affairs are like;

1) The drawee is dead or bankrupt.

2) The drawee is a fictitious person.

3) Drawee is a person not having the faculty to contract.

4) After the exercise of reasonable diligence like just presentment cannot be effected. The presentment has been irregular, since acceptance has been refused on some other ground also there.

Posted Date: 2/1/2013 7:58:52 AM | Location : United States







Related Discussions:- Dishonour by non-acceptance, Assignment Help, Ask Question on Dishonour by non-acceptance, Get Answer, Expert's Help, Dishonour by non-acceptance Discussions

Write discussion on Dishonour by non-acceptance
Your posts are moderated
Related Questions
Contractual Capacity of Drunken Persons Whether a person purported to enter with a contract at a time at what time he was too drunk to understand then what he was doing and th

QUESTION 1 S.38(2) and S.38(3) of the Employment Relations Act require that an employee should be given the "opportunity to answer the charge" before the employer decides to te

QUESTION 1 (i) What are the principles applicable regarding the unjustified termination of a contract of employment (ii) What would be your views regarding the legal issues

QUESTION 1 Describe the various sources of law that exist QUESTION 2 Define „Statutory Interpretation? and explain the various methods that exist to interpret a statute

High Court - Establishment and Composition Establishment Further the High Court is established through S.60 (1) of the Constitution that states which 'there shall be a

Question: Joe is the regional manager of a multinational company operating in your country. This business manufactures toys for children and sells them in several other countri

During the first lecture students asked for some assessments topics to guide them in the decisions that they need to take. Please note that: 1   Students may still formulate the

QUESTION 1 Discuss the position in UK with respect to the Capital Maintenance Doctrine. QUESTION 2 (i) What are the essential requirements of a valid Asset Protection T

phoenix activity involves "the evasion of tax and other liabilities, such as employee entitlements, through the deliberate, systematic and sometimes cyclic liquidation of related c

Explain responsibility of the state under International law State responsibility upon a state and holding it responsible for a violation of an international law, the element of