A check must be presented for payment within a reasonable time after its issue or the drawer will be discharged from liability thereon to the extent of the loss caused by the delay.
A check is a bill of exchange drawn on a bank payable on demand.For the purposes of this section, the expressions- (a) a cheque in the electronic form means a cheque which contains the exact mirror image of a paper cheque, and is generated, written and signed in a secure system ensuring the minimum safety standards with.Absence or failure of consideration is a matter of defense as brothel carson city nevada against any person not a holder in due course; and partial failure of consideration is a defense pro tanto, whether the failure is an ascertained and liquidated amount or otherwise.The acceptor for honor is liable to the holder and to all parties to the bill subsequent to the party for whose honor he has accepted.These classifications exist for accounting purposes, as each type of security is treated differently regarding changes in investment value, as well as the related gains and losses, in a companys financials.When the drawer or an indorser receives notice of a qualified acceptance, he must, within a reasonable time, express his dissent to the holder or he will be deemed to have assented thereto.Payment of cheque crossed specially.When bill may be treated as promissory note.
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The person to whom an instrument so dated is delivered acquires the title thereto as of the date of delivery.When protest dispensed with.Rights of payer for honor.A person secondarily liable on the instrument is (a) By any act which discharges the instrument; (b) By the intentional cancellation of his signature by the holder; (c) By the discharge of a prior party; (d) By a valid tender or payment made.A holder in due course is a holder who has taken the instrument under the following (a) That it is complete and regular upon its face; (b) That he became the holder of it before it was overdue, and without notice that it has.Protest of bill accepted for honor, and so forth.Indorsement where name is misspelled, and so forth.In what cases protest necessary.A bill may be accepted before it has been signed by the drawer, or while otherwise incomplete, or when it is overdue, or after it has been dishonored by a previous refusal to accept, or by non payment.
Where the person primarily liable on the instrument is dead and no place of payment is specified, presentment for payment must be made to his personal representative, if such there be, and if, with the exercise of reasonable diligence, he can be found.