Non Acceptance - Law Dictionary Search Results
Home Dictionary Name: non acceptanceNon-acceptance
Non-acceptance, the refusal of acceptance....
Protest
Protest, a solemn declaration of opinion, generally of dissent. Each peer has a right, when he disapproves of the vote of the majority of the House of Lords, to enter his dissent on the Journals of the House, with his reasons for such dissent, which is usually styled his protest.Also a notification written by a notary upon a foreign bill of exchange of non-acceptance or non-payment; as to this, see Bills of Exchange Act, 1882, s. 51, by which a foreign bill, dishonoured by non-acceptance or non-payment, must be duly protested, otherwise the drawer and indorsers are discharged. All protests made in England must, by the (English) Stamp Act, 1891 (see schedule), be stamped, otherwise they cannot be given in evidence without payment of a penalty.The following is a form of protest for non-payment:-On the .......... day of .........., at the request of A.B., bearer of the original bill of exchange, whereof a true copy is on the other side written, I [notary's name], of [address], notary publ...
Noting
Noting, when a promissory note or bill of exchange has been dishonoured by non-acceptance or non-payment, the holder may cause such dishonour to be noted by a notary public upon the instrument, or upon a paper attached thereto, or partly upon each.Such notes must be made within a reasonable time after dishonour, and must specify the date of dishonour, the reason, if any, assigned for such dishonour, or if the instrument has not been expressly dishonoured, the reason why the holder treats it as dishonoured, and the notary's charges. [Negotiable Instruments Act, 1881 (26 of 1881), s. 99]--The making of a memorandum or note on a bill of exchange by a notary which states that he has presented the bill for payment or acceptance, and that it has been dishonoured. It is usual, in cases of non-payment of bills of exchange, for London bankers, after six o'clock on the day upon which the bills fall due, to cause inland bills to be noted. The duty of a notary in protesting a bill consists in thre...
After sight
After sight, the expression 'after sight' means, in a promissory note, after presentment for sight, and, in a bill of exchange, after acceptance, or noting for non-acceptance, or protest for non-acceptance. (Negotiable Instruments Act, 1881, s. 21)...
Supra protest
Supra protest, after 'protest' (se PROTEST). There may be either acceptance or payment of a bill of exchange by a person other than the drawee or acceptor or other person liable, after it has been protested for non-acceptance or non-payment. The full term is 'acceptance (or payment) supra protest for honour,' i.e., for the honour or in relief of the person liable. The rights and liabilities o the parties are regulated by the Bills of Exchange Act, 1882, ss. 65-68; and see Byles on Bills, chs. 20, 21....
Foreign Bill of Exchange
Foreign Bill of Exchange, a bill which is not an inland bill. See INLAND BILL. Before 19 & 20 Vict. c. 97, a bill drawn in one part of the United Kingdom, as England, on a person in another part, as Ireland or Scotland, was deemed a foreign bill; but this was altered by s. 7 of that Act, of which the effect is reproduced by s. 4 of the (English) Bills of Exchange Act, 1882. By the law of merchants, the holder of a foreign bill is obliged to protest it for non-payment, and also for non-acceptance, whenever notice of such non-acceptance is necessary. See Chitty, Byles, Bayley, or Chalmers, on Bills....
Free acceptance
Free acceptance, a defendant who 'freely accepts' goods or services may be held to have been enriched thereby. A free acceptance has been stated to occur where a recipient knows that a benefit is being offered to him non-gratuitously and where he, having the opportunity to reject, elects to accept so that 'when a defendant has passed up an opportunity to reject a benefit knowing that it was not offered gratuitously he has only himself to blame for the resulting situation, Birks an Introduction to the Law of Restitution, (1985) P 114. See also Halsbury's Laws of England, Vol. 40(2) para 1315, p. 610....
Sale of Goods Act, 1893
Sale of Goods Act, 1893 (English) (56 & 57 Vict. c. 71), codifying the law of the sale of goods, in the same fashion as the law of bills of exchange, promissory notes, and cheques was codified (see CODE) by the Bills of Exchange Act, 1882, and the law of partnership by the (English) Partnership Act, 1890.The parts of the Act are:-I. Formation of the Contact, in which it is provided, amongst other things, that an infant or person by mental incapacity or drunkenness incompetentto contract must pay a reasonable price for 'necessaries' sold and delivered to him; that (re-enacting a part of the Statute of Frauds) a contract for the sale of goods of the value of 10l. or more is not enforceable unless the buyer accept and receive part, or give something in earnest to bind the contract, or 'unless some note or memorandum in writing of the contract be made and signed by the party to be charged or his agent in that behalf'; that a contract for the sale of specific goods which have perished witho...
Acceptor for honour
Acceptor for honour, When the bill of exchange has been noted or protested for non-acceptance or for better security, and any person accepts it supra protest for honour of the drawer or of any one of the indorsers, such person is called an 'acceptor for honour'. [Negotiable Instruments Act, 26 of 1881, s. 7)...
Acceptance
Acceptance, the taking and receiving of anything in good part, and as it were a tacit agreement to a preceding act, which might have been defeated or avoided if such acceptance had not been made, Jac. Law Dict.The assenting to an offer: it is by the acceptance, whether express or implied, of an offer that all contracts are made. See CONTRACT, AGREEMENT.Acceptance of a bill of exchange is defined by the (English) Bills of Exchange Act, 1882 (45 & 46 Vict. C. 61), s. 17, as 'the signification by the drawee of his assent to the order of the drawer.' It must be written on the bill, and signed by the drawee, whose mere signature is sufficient to charge him: and it must not express that the drawee will perform his promise by any other means than the payment of money, Ib. See BILL OF EXCHANGE.Means communicated acceptance, Ashok Kumar Sahu v. Union of India, (2006) 6 SCC 704....
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