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COMPARISON OF SECTIONS 14, 15 AND 16 OF THE NIL
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PRESENTMENT FOR ACCEPTANCE
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NOTICE OF DISHONOR
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PRESENTMENT FOR PAYMENT
WHENNECESSARY
WHEN NOTNECESSARY
TO WHOMPRESENTED
DATE and TIMEOF PRESENTMENT
WHERE TOPRESENT
Sec. 73, NIL
WHEN EXCUSEDSec. 82, NIL
In order to chargethe drawer andindorsers (Sec.70,NIL)
Exceptions
1. Drawerwhere he has noright to expect orrequire that thedrawee oracceptor will paytheinstrument.(Sec.79, NIL)
2. Indorser
wheretheinstrument was
made oracceptedfor hisaccommodationand he has noreason to expectthat theinstrument willbepaid if presented.(Sec. 80, NIL)
1. To charge theperson primarilyliable on theinstrument (Sec.70, NIL)
2. When theinstrument hasbeen dishonoredby non-acceptance
1. To theperson
primarily liable:
A. To somepersonauthorized toreceivepayments
B. Absent orinaccessibleto any personfound at theplace wherethepresentmentis made.
C. Deadto the
Personalrepresentativeif such therebe and if hecan be foundwith theexercise ofreasonablediligence (Sec.76, NIL)
D. Partnerstoanyone of
1. Not payableon demand onthe day it falls due
Note: If day ofmaturity falls onSunday or a holiday,the instrumentsfalling due orbecoming payableon Saturday are tobe presented forpayment on the nextsucceeding businessday (Sec.85, NIL)
2. Payable ondemand
A. PN- within areasonable timeafter its issue
B. BOE within areasonable timeafter the lastnegotiation.(Sec. 71, NIL)
Note: At the optionof the holder, may
1. Placespecified intheinstrument
2. No placeof payment isspecified butthe addressof the personto makepayment isgiven in theinstrument
3. No placeof payment isspecified andno address isgiven and the
instrument ispresented atthe usualplace ofbusiness orresidence ofthe person tomakepayment
4. If presented tothe person to
1. Where, afterthe exercise ofreasonablediligence,presentmentcannot be made
2. Where thedrawee is afictitiousperson;
3. By waiver of presentment,express orimplied.
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them(Sec. 77,NIL)
E. Joint debtorstoall of them
(Sec. 78, NIL)
Note:NIs must beexhibited to theperson from whompayment isdemanded, andwhen it is paid,must be deliveredup to the partypaying it(Sec 74, NIL)
bepresented forpaymentbefore 12NN onSaturday when thatentire day is not a
holiday (Sec. 85,NIL)
3. Payable atbank- must bemade duringbanking hours (Sec.75, NIL)
ExceptionPerson to makepayment has no
funds there to meetit at any time duringthe day presentmentat any hour beforethe bank is closed onthat day is sufficient(Sec 75,NIL)
makepaymentwherever hecan be found,or ifpresented at
his last knownplace ofbusiness orresidence
PROTEST
BY WHOM MADESec.154, NIL WHEN MADESec. 155, NIL HOW MADESec. 153, NIL WHERE MADESec. 156, NIL
1. By a notary public; or2. By any respectable
resident of the placewhere the bill isdishonored, in thepresence of two ormore crediblewitnesses.
Must be made on the day ofitsDishonor
ExceptionDelay is excused
Note: When bill is duly noted,protest may be subsequentlyextended as to the date of the
The protest must be annexedto the bill or must contain acopy thereof, and must beunder the hand and seal ofthenotary making it and mustspecify:
1. The time and place ofpresentment;
1. At the place where it isdishonored
2.It must be protested for non-
payment at the placewhere it is expressed to bepayable if the said bill isdrawn payable at theplace of business orresidence of some person
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noting. 2. The fact thatpresentment was madeand the mannerthereof;
3. The cause or reason forprotesting the bill;
4. The demand made andthe answer given, ifany, or the fact thatthe drawee or acceptorcould not be
other than the drawee andhas been dishonored bynon-acceptance
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