PRESENTMENT FOR PAYMENT
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Transcript of PRESENTMENT FOR PAYMENT
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PRESENTMENT FOR PAYMENT
NEGOTIABLE INSTRUMENTS
Presentation by: Advocate Waseem Iqbal
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Promissory Note
A Promissory Note is an instrument (legal document)
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Promissory Note
A Promissory Note is an instrument (legal document)
in writing
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Promissory Note
A Promissory Note is an instrument (legal document)
in writing containing an unconditional
undertaking
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Promissory Note
A Promissory Note is an instrument (legal document)
in writing containing an unconditional
undertaking signed by the maker
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Promissory Note
A Promissory Note is an instrument (legal document)
in writing containing an unconditional
undertaking signed by the maker To pay a certain sum of money
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Promissory Note
A Promissory Note is an instrument (legal document)
in writing containing an unconditional
undertaking signed by the maker To pay a certain sum of money Only to a certain person or
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Promissory Note
A Promissory Note is an instrument (legal document)
in writing containing an unconditional
undertaking signed by the maker To pay a certain sum of money Only to a certain person or To the bearer of this Promissory Note
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Promissory Note sample
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Promissory Note sample
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Bill of Exchange
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Bill of Exchange sample
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Bill of Exchange sample
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Bill of Exchange
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Bill of Exchange
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Bill of Exchange Transaction
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Difference
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Cheque
A "cheque" is a bill of exchange drawn on a specified banker and not expressed payable otherwise than on demand.
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Cheque sample
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Difference
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Transaction through bank
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Hours of presentment (Sec.65) (Negotiable
instruments) must be presented for payment during usual hours of business
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Hours of presentment (Sec.65) If payable at a bank, during the usual
banking hours.
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Payable after date or sight (Sec. 66) A note or a bill of exchange made
payable at a specified period after date or sight thereof must be presented for payment at maturity.
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Promissory note payable by installments (Sec. 67) A promissory note payable by
installments must be presented for payment on the third day after the date fixed for payment of each installment.
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Promissory note payable by installments (Sec. 67) A promissory note payable by
installments must be presented for payment on the third day after the date fixed for payment of each installment.
If any installment is not paid on such presentment, it has same effect as non-payment of a note a maturity.
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Payment for honor The bill must be dishonored for non-payment The bill must be noted and protested for non-
payment. The person paying or his agent must declare
before the notary public the party for whose honor he pays.
The payment for honour must be made for honor of any party liable to pay on the bill.
The payment for honor may be made by any person who is already liable on the bill.
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Payment for honor
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Rights of payer
Any person making payment for honor is entitled to all the rights in respect of the bill, of the holder at the time of such payment.
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Rights of payer
Any person making payment for honor is entitled to all the rights in respect of the bill, of the holder at the time of such payment.
he may recover from the party for whose honor he pays all sum so paid with interest thereon and all expenses properly incurred in making such payment.
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End of presentation
That’s all folks Thanks for listening