b)

OS 20 2
WHEN EXCUSED OR DISPENSED WITH
1)
Delay is excused
A bill drawn payable
elsewhere than at the place of business or
the residence of the drawee and the holder,
with the exercise of reasonable diligence,
failed to present the bill for acceptance.
What is excused is the delay in presenting
it for payment caused by presentment for
acceptance (Sec. 147, NIL).
2)
Where the drawee is dead, or has absconded,
or is a fictitious person or a person not
having capacity to contract by bill.
3)
Where, after the exercise of reasonable
diligence, presentment cannot be made.
4)
Where, although presentment has been
irregular, acceptance has been refused on
some other ground (Sec. 149, NIL).
15.05. ACCEPTANCE
a)
ACCEPTANCE
70895-0
The signification by the drawee of his assent
to the order of the drawer. The acceptance must
be in writing and signed by the drawee. It must
not express that the drawee will perform his
promise by any other means than the payment of
money (Sec. 132, NIL).
b)
REQUISITES
1)
Pete Ha
2)
3)
The acceptance must be in writing;
The written acceptance must be signed by
the drawee; and
The drawee must assent to the promise to
pay a sum certain in money and not by any
other means.
C)
Proof of Acceptance
The written
acceptance may be in the
instrument itself or in a separate instrument.
Write to Huzzain Pangcoga