Bills of Exchange Act, 1964 (Act No. 34 of 1964)Chapter IGeneral duties of the holder44. When presentment for payment may be delayed or dispensed with |
| (1) | Delay in making presentment for payment is excused if the delay is caused by circumstances beyond the control of the holder and not imputable to his default, misconduct or negligence: Provided that if the cause of delay ceases to operate, presentment must be made with reasonable diligence. |
| (2) | Presentment for payment is dispensed with— |
| (a) | if after the exercise of reasonable diligence, presentment as required by this Act cannot be effected; |
| (b) | if the drawee is a fictitious person; |
| (c) | as regards the drawer, if the drawee or acceptor is not bound, as between himself and the drawer, to accept or pay the bill, and the drawer has no reason to believe that the bill would be paid if presented; |
| (d) | as regards an indorser, if the bill was accepted or made for the accommodation of that indorser, and he has no reason to expect that the bill will be paid if presented; |
| (e) | by express or implied waiver of presentment; |
| (f) | if the drawee or acceptor is insolvent. |
| (3) | Subject to the provisions of subsection (2), the fact that the holder has reason to believe that the bill will on presentment be dishonoured, does not dispense with the necessity for presentment. |