BILLS OF EXCHANGE ACT - 1961 (ACT 55)

Section - 39 - Rules as to Presentment for Acceptance, and Excuses for Non-presentment

(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 reasonable hour on a business day and before the bill is overdue;

(b) 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;

(d) where the drawee is insolvent 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.

(2) Presentment in accordance with these rules is excused, and a bill may be treated as dishonoured by non-acceptance-

(a) where the drawee is dead, or insolvent, or is a fictitious person, or a person not having capacity to contract by bill;

(b) where, after the exercise of reasonable diligence, such presentment cannot be effected;

(c) where, although the presentment has been irregular, acceptance has been refused on some other grounds.

(3) The fact that the holder has reason to believe that the bill on presentment will be dishonoured does not excuse presentment.