What is Presentment for payment of promissory note payable by installments? What is Presentment for payment of instrument payable at specified place and not elsewhere? Presentment for payment of promissory note payable by installments and Presentment for payment of instrument payable at specified place and not elsewhere are defined under Section 67 and 68 of Negotiable Instruments Act 1881
A promissory note payable by installments must be presented for payment on the third day after the date fixed for payment of each installment; and non-payment on such presentment has the same effect as non-payment of a note at maturity.
A promissory note, bill of exchange or cheque made, drawn or accepted payable at a specified place and not elsewhere must, in order to charge any party thereto, be presented for payment at that place.
Negotiable Instruments Act 1881
CHAPTER V
OF PRESENTMENT
Section 61 - Presentment for acceptance
Section 62 - Presentment of promissory note for sight
Section 63 - Drawee's time for deliberation
Section 64 - Presentment for payment
Section 65 - Hours for presentment
Section 66 - Presentment for payment of instrument payable after date or sight
Section 67 - Presentment for payment of promissory note payable by installments
Section 68 - Presentment for payment of instrument payable at specified place and not elsewhere
Section 69 - Instrument payable at specified place
Section 70 - Presentment where no exclusive place specified
Section 71 - Presentment when maker, etc., has no known place of business or residence
Section 72 - Presentment of cheque to charge drawer
Section 73 - Presentment of cheque to charge any other person
Section 74 - Presentment of instrument payable on demand
Section 75 - Presentment by or to agent, representative of deceased, or assignee of insolvent
Section 75A - Excuse for delay in presentment for acceptance or payment
Section 76 - When presentment unnecessary
Section 77 - Liability of banker for negligently dealing with bill presented for payment
CHAPTER VI
OF PAYMENT AND INTEREST
Section 78 - To whom payment should be made