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
43. Dishonour by non-acceptance and its consequences
Feedback & support(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.
acceptance
Defined · s 2
“acceptance” means an acceptance completed by delivery or notification;