presentment must be made on the day it S. 45. falls due.c (2.) Where the bill is payable on demand, then, e subject to the provisions of this Act, pre- In determining what is a reasonable time, regard (3.) Presentment must 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 herein-after defined, 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 such person can there be found.J (4.) A bill is presented at the proper place (a.) Where a place of payment is specified (b.) Where no place of payment is specified, (c.) Where no place of payment is specified S. 45. presented at the drawee's or acceptor's place of business if known, and if not, at his ordinary residence if known.1 (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.m (5.) 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. (6.) Where a 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. (7.) Where the drawee or acceptor of a bill is dead, and no place of payment is specified, presentment must be made to a personal representative, if such there be, and with the exercise of reasonable diligence he can be found. (8.) Where authorised by agreement or usage a presentment through the post office is sufficient." a See ss. 46, 39 (4), and 43. b These parties are discharged though they have sustained no injury, and are also discharged from liability on the consideration.1 But the acceptor of a bill,2 the maker of a promissory note,1 the drawer of a cheque who has sus- S. 45. tained no damage,2 or a guarantor,3 is not discharged. © See s. 14. d See s. 10. e See s. 46 (1), and as to cheques, s. 74. f See ss. 36, n.1 and 86, n.d; Byles, 281; 1 Bell's Com. 434. * The agent must have authority to discharge the payer and give up the bill.4 h See s. 41, n.o. i See s. 92. 1 Presentment is not excused though the drawee is bankrupt.5 * The place of payment may be specified in the bill or in the acceptance. To preserve recourse the bill must be presented at the place specified though it is not made payable there only. If a bill is drawn or accepted payable at a town, presentment at all the banks there is sufficient.8 In Gordon v. Stephen a bill was drawn payable at “the bank office in Dundee," was presented at all the banks there, and protested “where payable." The Court rejected the contention that the bill did not specify a place of payment, and should therefore have been presented at the acceptor's address. 9 1 In these cases the holder is not bound to present the bill except at the place indicated by the Act,1o and presentment to the drawee or acceptor personally, unless at the place indicated, is useless for the purpose of preserving recourse.11 m In case of his death, see sub-sec. 7, infra. S. 45. S. 46. Excuses for delay or nonpresentment n If the holder has been authorised to present through the post office, and has shewn sufficient diligence in directing his letter, he apparently will not be deprived of his recourse though through the fault of the post office presentment is not made in due time. But he should present as soon as is reasonably possible after discovering the error.1 If the drawee does not pay reasonably prompt attention to such presentment, the holder should treat the bill as dishonoured, or he will lose his recourse.2 46. (1.) Delay in making presentment for payment is excused when the delay is caused by circumstances beyond the control of the holder, and not for payment. imputable to his default, misconduct, or negligence.a When the cause of delay ceases to operate presentment must be made with reasonable diligence. (2.) Presentment for payment is dispensed with," The fact that the holder has reason to believe that the bill will, on presentment, be dishonoured, does not dispense with the necessity for presentment. (b.) Where the drawee is a fictitious person.a acceptor is not bound, as between himself 1 See ss. 46 (1), 49 (15). 2 Bailey v. Bodenham, 1864, 33 L.J. C.P. 252, 255. expect that the bill would be paid if pre- S. 46. sented.f (e.) By waiver of presentment, express or implied.h a For example, unavoidable business, illness, exigencies of war,1 or the necessity of presenting for acceptance.2 b These are the only cases in which presentment is dispensed with.3 See Gordon v. Stephen, 1845, 8 D. 146. a See s. 5, n.f e This provision is applicable when the acceptor is an accommodation party for the drawer, and when the drawer without authority draws upon a person who is not his debtor.5 When the acceptors of a bill being in embarrassed circumstances had agreed with their creditors, including the drawers of the bill, to assign their estates to trustees for the liquidation of their debts, an indorsee was found entitled to recover from the drawers without having presented the bill. But if the drawer has a fluctuating balance in the hands of the drawee, he is entitled to notice. Neither presentment nor notice of dishonour is dispensed with as regards a drawer who is an accommodation party for the acceptor.8 f An indorser is entitled to notice of dishonour though under a collateral agreement he is liable jointly with the previous indorsers and the acceptor, or though he is an 6 Bank of Scotland v. Lamont and Co., 1889, 16 R. 769. 7 Overend, Gurney, and Co., 1868, 8 Brown v. Kerr, 1809, Hume, 62; 9 Turner v. Samson, 1876, 2 Q.B.D. |