Bills of Exchange Act

43. Dishonour by non-acceptance and its consequences

Edition: 2022-12-31 · In force

43. Dishonour by non-acceptance and its consequences

(1)A bill is dishonoured by non-acceptance—

(a)when it is duly presented for acceptance, and an acceptance as is prescribed by this Act is refused or cannot be obtained; or

(b)when presentment for acceptance is excused and the bill is not accepted.

(2)Subject to the provisions of this Act, when a bill is dishonoured by non-acceptance, an immediate right of recourse against the drawer and endorsers accrues to the holder, and no presentment for payment is necessary.

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Source: Kenya Law