Section 103 - Protest for non-payment after dishonour by non-acceptance, Section 104 - Protest of foreign bills : Negotiable Instruments Act 1881

What is Protest for non-payment after dishonour by non-acceptance? What is Protest of foreign bills? Protest for non-payment after dishonour by non-acceptance and Protest of foreign bills are defined under Section 103 and 104 of Negotiable Instruments Act 1881

 

 

Section 103 of Negotiable Instruments Act 1881: "Protest for non-payment after dishonour by non-acceptance"

All bills of exchange drawn payable at some other place than the place mentioned as the residence of the drawee, and which are dishonoured by non-acceptance, may, without further presentment to the drawee, be protested for non-payment in the place specified for payment, unless paid before or at maturity.

 

Section 104 of Negotiable Instruments Act 1881: "Protest of foreign bills"

Foreign bills of exchange must be protested for dishonour when such protest is required by the law of the place where they are drawn.