Section 44: Rules as to presentment for payment

44. Rules as to presentment for payment (1) (a) Subject to this Act, a bill shall be duly presented for payment. (b) Where it is not so presented, the drawer and indorsers shall be discharged if any prejudice has been caused by the holder’s failure to perform his duty and then only to the extent of the loss suffered. (2) A bill is duly presented for payment where it is presented in accordance with the following rules— (a) where the bill is not payable on demand, presentment shall be made on the day it falls due; (b) subject to this Act where the bill is payable on demand, presentment shall be made within a year after the issue in order to render the drawer and indorsers liable; (c) (i) presentment shall be made by the holder or by some person authorised to receive payment on his behalf at a reasonable hour on a business day, at the proper place as defined in subparagraph (ii), either to the person designated by the bill as payer, or to some person authorised to pay or refuse payment on his behalf if, with the exercise of reasonable diligence, that person can there be found; (ii) a bill is presented at the proper place— (A) where a place of payment is specified in the bill and the bill is there presented; (B) where no place of payment is specified, but the address of the drawee or acceptor is given in the bill, and the bill is there presented; (C) where no place of payment is specified and no address given, and the bill is presented at the drawee’s or acceptor’s place of business if known, if not, at his ordinary residence if known; (D) in any other case, if presented to the drawee or acceptor wherever he can be found, or if presented at his last known place of business or residence; (d) where a bill is presented at the proper place, and after the exercise of reasonable diligence no person authorised to pay or refuse payment can be found there, no further presentment to the drawee or acceptor is required; (e) where a bill is drawn upon, or accepted by 2 or more persons who are not partners, and no place of payment is specified, presentment shall be made to them all; B7 – 15 [Issue 4] Bills of Exchange Act (f) where the drawee or acceptor of a bill is dead, and no place of payment is specified, presentment shall be made to his heirs or representatives.