131H: Holder’s right of recourse against drawer and indorsers — Negotiable Instruments Act, 1881

Discuss this provision with AI

Subject to the provisions of this Act, when a bill of exchange is dishonoured by non-acceptance, an immediate right of recourse against the drawer and indorsers accrues, to the holder, and no presentment for payment is necessary.

Effective date: 1881-12-09

Related sections

131F: When presentment for acceptance is necessary l31G. When presentment excused 131I: Holder may refuse qualified acceptance 131E: In whose favour a bill may be drawn 132: Set of bills 131D: Several drawees 133: Holder of first acquired part entitled to all

Version 1 · Source-traceable official reference. LawHub does not modify the official record.