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Section 98 – The Negotiable Instruments Act, 1881

The Negotiable Instruments Act, 1881

 

98. When notice of dishonor is unnecessary.-

 

Notice of dishonor is necessary –

 

(a) when it is dispensed with by the party entitled thereto

 

(b) in order to charge the drawer, when he has countermanded payment

 

(c) when the party charged could not suffer damage for want of notice

 

(d) when the party entitled to notice cannot after due search be found, or the party bound to give notice is, for any other reason, unable without any fault of his own to give it.

 

(e) to charge the drawers, when the acceptors is also a drawer.

 

(f) in the case of a promissory note which is not negotiable.

 

(g) when the party entitled to notice, knowing the facts, promise unconditionally to pay the amount due on the instrument.

 

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The Negotiable Instruments Act, 1881

 

Indian Laws – Bare Acts

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