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Negotiable instruments

Time for presentment . What if the holder sents the N.I through registered post but it received by the payer before or after the due date ? Did the holder can claim for payment ? Kindly explain this , Sir .


Srini Sriram

Srini Sriram

CA Inter

3K+

25-Sep-20

29

Answers (2)

Presentment of NI for payment must be done on the maturity date. If suppose the NI is presented before maturity date, then person is not liable to pay till the maturity date. That means payment will be made only on due date & not before that. If presentment for payment is done after maturity date, then liability to make payment ceases.


CA YOGITA HARJANI

CA YOGITA HARJANI

Faculty

26-Sep-20

All the Best
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