presentment for payment

PRESENTMENT FOR PAYMENT

NEGOTIABLE INSTRUMENTS

Presentation by: Advocate Waseem Iqbal

Promissory Note

A Promissory Note is an instrument (legal document)

Promissory Note

A Promissory Note is an instrument (legal document)

in writing

Promissory Note

A Promissory Note is an instrument (legal document)

in writing containing an unconditional

undertaking

Promissory Note

A Promissory Note is an instrument (legal document)

in writing containing an unconditional

undertaking signed by the maker

Promissory Note

A Promissory Note is an instrument (legal document)

in writing containing an unconditional

undertaking signed by the maker To pay a certain sum of money

Promissory Note

A Promissory Note is an instrument (legal document)

in writing containing an unconditional

undertaking signed by the maker To pay a certain sum of money Only to a certain person or

Promissory Note

A Promissory Note is an instrument (legal document)

in writing containing an unconditional

undertaking signed by the maker To pay a certain sum of money Only to a certain person or To the bearer of this Promissory Note

Promissory Note sample

Promissory Note sample

Bill of Exchange

Bill of Exchange sample

Bill of Exchange sample

Bill of Exchange

Bill of Exchange

Bill of Exchange Transaction

Difference

Cheque

A "cheque" is a bill of exchange drawn on a specified banker and not expressed payable otherwise than on demand.

Cheque sample

Difference

Transaction through bank

Hours of presentment (Sec.65) (Negotiable

instruments) must be presented for payment during usual hours of business

Hours of presentment (Sec.65) If payable at a bank, during the usual

banking hours.

Payable after date or sight (Sec. 66) A note or a bill of exchange made

payable at a specified period after date or sight thereof must be presented for payment at maturity.

Promissory note payable by installments (Sec. 67) A promissory note payable by

installments must be presented for payment on the third day after the date fixed for payment of each installment.

Promissory note payable by installments (Sec. 67) A promissory note payable by

installments must be presented for payment on the third day after the date fixed for payment of each installment.

If any installment is not paid on such presentment, it has same effect as non-payment of a note a maturity.

Payment for honor The bill must be dishonored for non-payment The bill must be noted and protested for non-

payment. The person paying or his agent must declare

before the notary public the party for whose honor he pays.

The payment for honour must be made for honor of any party liable to pay on the bill.

The payment for honor may be made by any person who is already liable on the bill.

Payment for honor

Rights of payer

Any person making payment for honor is entitled to all the rights in respect of the bill, of the holder at the time of such payment.

Rights of payer

Any person making payment for honor is entitled to all the rights in respect of the bill, of the holder at the time of such payment.

he may recover from the party for whose honor he pays all sum so paid with interest thereon and all expenses properly incurred in making such payment.

End of presentation

That’s all folks Thanks for listening