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Dishonour by non-acceptance and its consequences. 43.(1) A bill is dishonoured by non-acceptance (a)when it is duly presented for acceptance, and such an acceptance as is prescribed by this Act is refused or cannot be obtained; or (b)when presentment for acceptance is excused and the bill is not accepted. (2) Subject to the provisions of this Act when a bill is dishonoured by non-acceptance, an immediate right of recourse against the drawer and indorsers accrues to the holder, and no presentment for payment is necessary.
© 1882 Crown Copyright
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