NIA 83 — Discharge by allowing drawee more than forty-eight hours to accept

Negotiable Instruments Act, 1881

Statutory text

If the holder of a bill
of  exchange  allows  the  drawee  more  than

[forty-eight]  hours,  exclusive  of  public  holidays,  to  consider
whether  he  will  accept  the same,  all  previous  parties  not  consenting  to  such  allowance  are  thereby discharge from liability to such holder.

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