The acceptor or the drawee is declared bankrupt according to law or is ordered to stop business activities for violation of law.
Where the holder fails to present the bill for payment within the prescribed period, the acceptor or drawee shall remain liable for the payment of the bill after the holder explains the situation.
The drawee refusing acceptance must produce a certificate of dishonor by nonacceptance.
Details of the drawee including full name, postal address, or the domicile at which presentation is to be made and if applicable telex, telephone and facsimile Numbers.
"The acceptor for honour of a bill, by accepting it engages that he will, on due presentment, pay the bill according to the tenor of his acceptance, if it is not paid by the drawee,"
B; Of course, we must give these checks to drawee bank to collect the funds they owe us.
If the drawee accepts more than one part and such accepted parts get into the hands of different holders in due course, he is liable on every such part as if it were a separate bill.
A bill is discharged by payment in due course by or on behalf of the drawee or acceptor.
Acceptance is the drawee to accept an order that the drawer.
"Expressions such as "first", "prompt", "immediate", and the like should not be used in connection with presentation or with reference to any period of time within which documents have to be taken up or for any other action that is to be taken by the drawee."
To refuse payment, to dishonour: The drawee refuses to discharge a draft when it falls due for payment.
The drawee who pays an endorsable check is bound to verify the regularity of the series of endorsement, but not the signature of the endorsers.
Acceptance of draft: in the case of a usance draft, for example, at 120 days' sight, it must be presented to the drawee for acceptance.
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