49 Rules as to notice of dishonour
Bills of Exchange Act 1882 (1882 c 61) | Legislation

49  Rules as to notice of dishonour

Notice of dishonour in order to be valid and effectual must be given in accordance with the following rules:—

(1)     The notice must be given by or on behalf of the holder, or by or on behalf of an indorser who, at the time of giving it, is himself liable on the bill.

(2)     Notice of dishonour may be given by an agent either in his own name or in the name of any party entitled to give notice whether that party be his principal or not.

(3)     Where the notice is given by or on behalf of the holder, it enures for the benefit of all subsequent holders and all prior indorsers who have a right of recourse against the party to whom it is given.

(4)     Where notice is given by or on behalf of an indorser entitled to give notice as herein-before provided, it enures for the benefit of the holder and

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