The Negotiable Instruments Act

Discharge from liability

Discharge by allowing drawee more than forty-eight hours to accept

When cheque not duly presented and drawer damaged thereby

Cheque payable to order

Drafts drawn by one branch of a bank on another payable to order

Parties not consenting discharged by qualified or limited acceptance

Effect of material alteration

Acceptor or indorser bound notwithstanding previous alteration

Payment of instrument on which alteration is not apparent

Extinguishment of rights of action on bill in acceptor's hands


OF DISCHARGE FROM LIABILITY ON NOTES, BILLS AND CHEQUES


If the holder of a bill
of exchange allows the drawee more than 1[forty-eight] hours, exclusive of public holidays, to consider
whether he will accept the same, all previous parties not consenting to such allowance are thereby
discharge from liability to such holder.

LAWGIST

# 83 Discharge by allowing drawee more than forty-eight hours to accept