Under what circumstances can a delay in presentation be excused according to the Act.
CA Foundation · Business Laws · PYQS · September 2025
Under what circumstances can a delay in presentation be excused according to the Act.
Suggested Answer and Working Notes:
(a) (B) Excuse for delay in presentment for acceptance or payment (Section 75A) Delay in presentment for acceptance or payment is excused if the delay is caused by circumstances beyond the control of the holder, and not imputable to his default, misconduct or negligence. When the cause of the delay ceases to operate, presentment must be made within a reasonable time.
Topics: The Negotiable Instruments Act, 1881
Related Questions in this Topic
- Shiva gave a gift of ₹ 21,000 to his sister through a cheque issued in her favour on the occasion of Raksha Bandhan. Aft...
- Advik purchased a mobile from Bhanu. He issued a promissory note to Bhanu which was payable on demand but no specific pl...
- Ram purchased a second-hand car from his friend Rohan for ₹ 5 lakhs on 10 th November, 2023. He paid ₹ 4 lakh immediate...
- Explain the Rules as to compensation payable in case of dishonour of promissory note, bill of exchange or cheque, by any...
- (i) Advik purchased a mobile from Bhanu. He issued a promissory note to Bhanu which was payable on demand but no specifi...