Section 86 of NIA : Section 86: Parties Not Consenting Discharged By Qualified Or Limited Acceptance
NIA
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Explanation using Example
Imagine Sarah issues a bill of exchange to John for $10,000, payable in 90 days. John presents the bill to the drawees, the Smith Corporation, for acceptance. However, the Smith Corporation states that due to cash flow issues, they can only accept the bill on the condition that it is payable in 120 days instead of 90.
John agrees to this qualified acceptance, but he does not inform Sarah or...
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