770

Time for
presenting
bill payable
after sight.

Rules as to
presentment
for accept-
ance, and
excuses for
non-pre-
sentment.

Ch. 31. No. 5.] Bills of Exchange.

drawee, it must be presented for acceptance before it can be
presented for payment.

(3) In no other case is presentment for acceptance
necessary in order to render liable any party to the bill.

(4) Where the holder of a bill, drawn payable else-
where than at the place of business or residence of the
drawee, has not time, with the exercise of reasonable
diligence, to present the bill for acceptance before presenting
it for payment on the day that it falls due, the delay caused
by presenting the bill for acceptance before presenting it
for payment is excused, and does not discharge the drawer
and indorsers.

40. (1) Subject to the provisions of this Ordinance, when
a bill payable after sight is negotiated, the holder must
either present it for acceptance or negotiate it within a
reasonable time.

(2) If he do not do so, the drawer and all indorsers
prior to that holder are discharged.

(3) In determining what is a reasonable time within
the meaning of this section, regard shall be had to the nature
of the bill, the usage of trade with respect to similar bills,
and the facts of the particular case.

41. (1) A bill is duly presented for acceptance which is
presented in accordance with the following rules :—

(a) the presentment must be made by or on behalf
of the holder to the drawee or to some person authorised
to accept or refuse acceptance on his behalf at a reason-
able hour on a business day and before the bill is
overdue;

(6) where a bill is addressed to two or more drawees,
who are not partners, presentment must be made to
them all, unless one has authority to accept for all,
then presentment may be made to him only;

(c) where the drawee is dead, presentment may be
made to his personal representative ;

(2) where the drawee is bankrupt, presentment may
be made to him or to his trustee;

(e) where authorised by agreement or usage, a
presentment through the Post Office is sufficient.