CMA Foundation · Fundamentals of Business Laws and Business Communication · Negotiable Instruments Act, 1881
The maker of a promissory note has no known place of business or fixed residence, and the note specifies no place for presentment. How may presentment for payment be made?
When the maker has no known place of business or fixed residence and the instrument names no place for presentment, presentment may be made to him in person wherever he can be found. The instrument does not become void.
- ATo him in person wherever he can be foundCorrect
- BOnly by publishing a notice in a newspaper
- COnly at the court nearest to the payee
- DIt cannot be made, and the note is void
Explanation
Where the maker, drawee or acceptor has no known place of business or fixed residence and no place is specified, presentment may be made to him in person wherever he can be found. Newspaper notice or court presentment is not required.
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