In force2020 Revised EditionCurrent version · 2020 Revised EditionSee versions on Singapore Statutes Online(opens the publisher’s site)
Bills of Exchange Act 1949 · 2020 Revised Edition · Part 2 · Bills of Exchange
42. Non-acceptance
Feedback & support(1)
When a bill is duly presented for acceptance and is not accepted within the customary time, the person presenting it must treat it as dishonoured by non-acceptance.
(2)
If he does not, the holder shall lose his right of recourse against the drawer and indorsers.
holder
Defined · s 2
“holder” means the payee or indorsee of a bill or note who is in possession of it, or the bearer thereof;