South African Council for Educators Act, 2000
R 385
Bills of Exchange Act, 1964 (Act No. 34 of 1964)Chapter IGeneral duties of the holder43. Rules as to presentment for payment |
(1)
| (a) | Subject to the provisions of this Act, a bill must be duly presented for payment in accordance with the provisions of subsection (2). |
| (b) | If it is not so presented, the drawer and indorsers shall be discharged. |
| (2) | A bill is duly presented for payment if it is presented in accordance with the following rules, namely— |
| (a) | if the bill is not payable on demand, presentment must be made on the day it falls due; |
| (b) | if the bill is payable on demand, presentment must, subject to the provisions of this Act, be made within a reasonable time, within the meaning of subsection (3), after its issue, in order to render the drawer liable, and within such a reasonable time after its endorsement, in order to render the indorser liable; |
| (c) | presentment must, subject to the provisions of subsection (5), be made by the holder, or by some person authorized to receive payment on his behalf, at a reasonable hour on a business day, at the proper place within the meaning of subsection (4), either to the person designated by the bill as payer, or to some person authorized to pay or refuse payment on his behalf, if with the exercise of reasonable diligence such person can be found there; |
| (d) | if the bill is drawn upon, or accepted by two or more persons who are not partners, and no place of payment is specified, presentment must be made to them all; |
| (e) | if the drawee or acceptor of the bill is dead and no place of payment is specified, presentment must be made to his executor, if there is one and, with the exercise of reasonable diligence, he can be found. |
| (3) | In determining what is a reasonable time for the purposes of paragraph (b) of subsection (2), regard shall be had to the nature of the bill, the usage of trade with respect to similar bills, and the facts of the particular case. |
| (4) | A bill is presented at the proper place if— |
| (a) | when a place of payment is specified in the bill, the bill is presented there; |
| (b) | when no place of payment is specified, but the address of the drawee or acceptor is given in the bill, the bill is presented there; |
| (c) | when no place of payment is specified, and no address is given, the bill is presented at the drawee's or acceptor's place of business, if known, and if not, at his ordinary place of residence, if known; |
| (d) | in any other case, the bill is presented wherever the drawee or acceptor can be found, or it is presented at his last known place of business or residence. |
| (5) | A presentment by post, if in due course, is sufficient. |
