Singapore legislation
Section 44
Section 44
Duties as to qualified acceptances
(1)
The holder of a bill may refuse to take a qualified acceptance, and if he does not obtain an unqualified acceptance, may treat the bill as dishonoured by non-acceptance.
(2)
Where a qualified acceptance is taken, and the drawer or an indorser has not expressly or impliedly authorised the holder to take a qualified acceptance, or does not subsequently assent thereto, such drawer or indorser is discharged from his liability on the bill.
(3)
Subsection (2) does not apply to a partial acceptance, whereof due notice has been given.
(4)
Where a foreign bill has been accepted as to part, it must be protested as to the balance.
(5)
When the drawer or indorser of a bill receives notice of a qualified acceptance, and does not, within a reasonable time, express his dissent to the holder, he shall be deemed to have assented thereto.