Section 40: Rules as to presentment

40. Rules as to presentment (1) A bill is duly presented for acceptance where it is presented in accordance with the following rules— (a) the presentment shall be made by or on behalf of the holder to the drawee or to some person authorised to accept or refuse acceptance on his behalf at a reasonable hour on a business day and before the bill is overdue; (b) where a bill is addressed to 2 or more drawees, who are not partners, presentment shall be made to them all, or to the one who has authority to accept for all; (c) where the drawee is dead, presentment may be made to his heirs or representatives; B7 – 13 [Issue 1] Bills of Exchange Act (d) where the drawee is bankrupt, or has been allowed to make a cessio bonorum, presentment may be made to him or to his trustee, or to the Official Receiver, or assignee, as the case may be; (e) where authorised by agreement or usage, a presentment through the post is sufficient. (2) Presentment in accordance with these rules is excused, and a bill may be treated as dishonoured by non-acceptance— (a) where the drawee is dead or bankrupt, or has been allowed to make a cessio bonorum or is a fictitious person or a person not having capacity to contract by bill; (b) where, after the exercise of reasonable diligence, the presentment cannot be effected; (c) where, although the presentment has been irregular, acceptance has been refused on some other ground. (3) The fact that the holder has reason to believe that the bill, on presentment, will be dishonoured does not excuse presentment.