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Negotiable instrument

Corporate & Other Laws

Is acceptance to honour is made only aftr protest?...

Sahana Sirsikar

CA Final

★ 9K+

16-Feb-20 10:19

515

Answers (4)

Can you please elaborate?

CA Suraj Lakhotia

Admin

16-Feb-20 11:12

Meaning to say... If the drawee fails to pay at the date of maturity and then drawer goes to notary and gets it protested... So... Is it that acceptance for honour comes into play only after drawer makes protest...?

Thread Starter

Sahana Sirsikar

CA Final

★ 9K+

16-Feb-20 11:21

I think, not exactly.bcoz the right of honour existed before the thing protested happen.even I too want clarity here

Divya tejasri

CA Inter

★ 13K+

17-Feb-20 13:59

Acceptance to honor can be made in the following circumstances - - When a bill of exchange has been protested for dishonor by non-acceptance or - When a bill of exchange is protested for better security and is not overdue,

CA Suraj Lakhotia

Admin

17-Feb-20 17:09