Acceptance for honour: where acceptance fails to specify the beneficiary, it is deemed to be for the drawer. Where an acceptance on a negotiable instrument does not specify for whose honour it is made, such acceptance is deemed to be for the honour of the drawer, supplying a statutory default allocation of the honour when the beneficiary is not expressly identified.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Acceptance for honour: where acceptance fails to specify the beneficiary, it is deemed to be for the drawer.
Where an acceptance on a negotiable instrument does not specify for whose honour it is made, such acceptance is deemed to be for the honour of the drawer, supplying a statutory default allocation of the honour when the beneficiary is not expressly identified.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.