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BILLS OF EXCHANGE ACT 1882 - SECT 48

Notice of dishonour and effect of non-notice.

48. Subject to the provisions of this Act, when a bill has been dishonoured by
non-acceptance or by non-payment, notice of dishonour must be given to the
drawer and each indorser, and any drawer or indorser to whom such notice is
not given is discharged: Provided that

(1) Where a bill is dishonoured by non-acceptance, and notice of dishonour is
not given, the rights of a holder in due course, subsequent to the omission,
shall not be prejudiced by the omission.

(2) Where a bill is dishonoured by non-acceptance, and due notice of dishonour
is given, it shall not be necessary to give notice of a subsequent dishonour
by non-payment unless the bill shall in the meantime have been accepted.

© 1882 Crown Copyright

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