Bills of Exchange Act, 1964 (Act No. 34 of 1964)Chapter IICheques - generally72. Presentment of cheque for payment |
| (1) | Subject to the provisions of this Act— |
| (a) | if a cheque is not presented for payment within a reasonable time, within the meaning of subsection (2), of its issue, and the drawer or the person on whose account it is drawn had the right, at the time at which such cheque should have been presented for payment, as between himself and the bank, to have the cheque paid, and suffers actual damage through the delay, he is discharged to the extent of such damage, that is to say, to the extent to which such drawer or person is a creditor of such bank to a larger amount than he would have been had such cheque been paid; |
[Paragraph (a) amended by section 28 (a) of Act 56 of 2000.]
| (b) | the holder of a cheque as to which such drawer or person is so discharged shall be a creditor, in lieu of such drawer or person, of such bank to the extent of such discharge, and be entitled to recover the amount from it. |
[Paragraph (b) substituted by section 28 (b) of Act 56 of 2000.]
| (2) | In determining what is a reasonable time for the purpose of paragraph (a) of subsection (1), regard shall be had to the nature of the instrument, the usage of trade and of banks, and the facts of the particular case. |
[Sub-section (2) amended by section 28 (c) of Act 56 of 2000.]