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
47. Dishonour by non-payment
Feedback & support(1)
A bill is dishonoured by non-payment —
(a)
when it is duly presented for payment and payment is refused or cannot be obtained; or
(b)
when presentment is excused and the bill is overdue and unpaid.
(2)
Subject to the provisions of this Act, when a bill is dishonoured by non-payment, an immediate right of recourse against the drawer and indorsers accrues to the holder.
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;