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CS Executive · Jurisprudence, Interpretation and General Laws · Law relating to Negotiable Instruments

Rohit Traders holds a bill of exchange drawn on Sameer, who has no known place of business or fixed residence. The bill specifies no place for presentment. How may presentment for acceptance or payment be made?

Presentment may be made to the drawee in person wherever he can be found. This applies when he has no known place of business or fixed residence and the instrument names no place for presentment. The Act neither dispenses with presentment nor requires a newspaper notice.

  1. ATo him in person wherever he can be foundCorrect
  2. BOnly by publishing a notice in a newspaper circulating in the drawer's city
  3. COnly at the last known address of the drawer
  4. DPresentment is dispensed with and the bill is deemed dishonoured

Explanation

Section 71 states that where the maker, drawee or acceptor has no known place of business or fixed residence and no place is specified in the instrument, presentment may be made to him in person wherever he can be found. The Act does not treat the bill as dishonoured automatically, nor does it require newspaper notice.

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