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Section 106 – The Negotiable Instruments Act, 1881

The Negotiable Instruments Act, 1881

 

106. Reasonable time of giving notice of dishonor.-

 

If the holder and the party to whom notice of dishonor is give carry on business or live (as the case may be) in different places, such notice is given within a reasonable time if it is dispatched by the next post or on the day next after the day of dishonor.

 

If the said parties carry on business or live in the same place, such notice is given within a reasonable time if it is dispatched in time to reach its destination on the day next after the day of dishonor.

 

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The Negotiable Instruments Act, 1881

 

Indian Laws – Bare Acts

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