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negotiable-instruments:section-71

Presentment when maker, drawer or acceptor has no known place of business or residence

Section 71 of the Negotiable Instruments Act,1881.

If the maker, drawee or acceptor of a negotiable instrument has no known place of business or fixed residence, and no place is specified in the instrument for presentment for acceptance or payment such presentment may be made to him in person wherever he can be found.

The section deals with cases where the maker, drawee or acceptor has neither any known place of business nor fixed residence. Where no place is specified, and no address is given, the instrument may be presented at the usual place of business, if known, and if not, then at the ordinary residence, if known, of the person to make the payment. In any other case, the instrument may be presented to the person to make payment wherever he can be found or at his last known place of business or residence. The holder must exercise due diligence to find out the place of business or residence of the maker, acceptor or drawee as the case may be and if after due diligence he cannot find them out he can present the instrument to the person wherever he is found even in the street or in a barren yard. Mere enquiry is not sufficient to constitute due diligence. What is due diligence depends on the facts and circumstances of each individual case.

Created on 2021/02/20 16:32 by LawPage • Last modified on 2021/02/20 16:32 by LawPage