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
Appointment of Directors: In the absence of other provisions in a company's articles, the directors of the company would be appointed in accordance with the following provisio

Normal 0 false false false EN-IN X-NONE X-NONE MicrosoftInternetExplorer4

What is hire purchase?

Q. Fair Work Ombudsman options? The following are a range of potential options for the FWO to mitigate phoenix activity. These options recognise that the FWO does not currently

State in brief aboput the Monetary Effects Besides real income effects there will also be monetary effects if nations seek to intervene in foreign exchange markets which govern

APPLICATION OF THE UNWRITTEN SOURCES OF ENGLAND LAW: Conversely it is a rule of England Law that unwritten laws are to be applied subject to the provisions' that any applicabl

As you think about the rights of workers enhanced by anti-discrimination laws, have society and organizations become more tolerant and competitive due to less discrimination in the

Question 1: ‘There has been considerable development from the time of the Industrial Associations Ordinance 1938 to the present time of the Employment Relations Act 200

Assets and liabilities of the company: Within 14 days of the making of the order for winding up a statement of affairs must be delivered to the liquidator (Official Receiver)

The second factor which is necessary for a claimant to impose claim on other person is to have a cause for the action taken by him. Hence it is important to have a proper link betw