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 asĀ  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
Determine in detail about the money market Prior to the change in monetary policy both countries are assumed to be in equilibrium at point A in both of these diagrams. Only at

Executory Consideration - Types of Consideration Although Executory consideration consists of a promise made about one party and a promise made through the other party to the

QUESTION 1 Explain the following words- 1. Promissory condition 2. Contingent condition 3. Condition precedent 4. Concurrent conditions 5. Conditions subsequent

Contracts in Restraint of Trade This is a contract through which a person voluntarily or unwillingly restricts his future liberty to carry at his trader business or profession

State the Definition of equilibrium The approach of equilibrium refinements aims at strengthening the definition of equilibrium itself in order to purge others out as possible

Question 1: "A revolutionary change is occurring in the theory and practice of public administration. The approach known as New Public Management is seen by many as the new par

Exceptions for Nemo Dat Quod Non Habet However the "nemo dat" rule is subject for the following exceptions such are provided by the Act: like; (a) Estoppel With S.23

Economic and Social Council The Economic and Social Council (ECOSOC) is a specialized organ of the United Nations and was established, inter alia, to monitor and regulate human

Contracts illegal at the common law However a contract which is prohibited through the common law is frequently described as being as "contrary to public policy" as i.e. the c

QUESTION 1 (a) Explain the word "conditions" in a contract (b) Describe the various types of conditions that may exist in a contract QUESTION 2 Explain the term "war