Section 115 of NIA : Section 115: Drawee In Case Of Need

NIA

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Explanation using Example

Imagine John issues a bill of exchange to Mike and specifies Sarah as the drawee in case of need. This means if Mike presents the bill to John for payment and John cannot pay, Mike should then present it to Sarah. If Sarah also refuses to pay, only then the bill is considered dishonoured. If Mike declares the bill dishonoured without presenting it to Sarah, he would be incorrect as per Section 115 of The Negotiable Instruments Act, 1881.

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