recourse against the drawer, the endorsers and their guarantors, subject to the provisions of article 59.
(b) If a bill is dishonoured by non-acceptance in accordance with paragraph 1 (b) of this article, the holder may exercise an immediate right of recourse against the drawer, the endorsers and their guarantors.
(c) If a bill is dishonoured by non-acceptance in accordance with paragraph 1 of this article, the holder may claim payment from the guarantor of the drawee upon any necessary protest.
3.- If a bill payable on demand is presented for acceptance, but acceptance is refused, it is not considered to be dishonoured by non-acceptance.
Section 2
PRESENTMENT FOR PAYMENT AND DISHONOUR BY NON-PAYMENT
Article 55
An instrument is duly presented for payment if it is presented in accordance with the following rules:
(a) The holder must present the instrument to the drawee or to the acceptor or to the maker on a business day at a reasonable hour;
(b) A note signed by two or more makers may be presented to any one of them, unless the note clearly indicates otherwise;
(c) If the drawee or the acceptor or the maker is dead, presentment must be made to the persons who under the applicable law are his heirs or the persons entitled to administer his estate;
(d) Presentment for payment may be made to a person or authority other than the drawee, the acceptor or the maker if that person or authority is entitled under the applicable law to pay the instrument;
(e) An instrument which is not payable on demand must be presented for payment on the date of maturity or on one of the two business days which follow;
(f) An instrument which is payable on demand must be presented for payment within one year of its date;
(g) An instrument must be presented for payment:
(i) At the place of payment specified on the instrument;
(ii) If no place of payment is specified, at the address
of the drawee or the acceptor or the maker indicated in the
instrument; or
(iii) If no place of payment is specified and the address
of the drawee or the acceptor or the maker is not indicated,
at the principal place of business or habitual residence of
the drawee or the acceptor or the maker;
(h) An instrument which is presented at a clearing-house is duly presented for payment if the law of the place where the clearing-house is located or the rules or customs of that clearing-house so provide.
Article 56
1.- Delay in making presentment for payment is excused if the delay is caused by circumstances which are beyond the control of the holder and which he could neither avoid nor overcome. When the cause of the delay ceases to operate, presentment must be made with reasonable diligence.
2.- Presentment for payment is dispensed with:
(a) If the drawer, an endorser or a guarantor has expressly waived presentment; such waiver:
(i) If made on the instrument by the drawer, binds any
subsequent party and benefits any holder;
(ii) If made on the instrument by a party other than the
drawer, binds only that party but benefits any holder;
(iii) If made outside the instrument, binds only the party
making it and benefits only a holder in whose favour it was
made;
(b) If an instrument is not payable on demand, and the cause of delay in making presentment referred to in paragraph 1 of this article continues to operate beyond thirty days after maturity;
(c) If an instrument is payable on demand, and the cause of delay in making presentment referred to in paragraph 1 of thi
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