Section 131HHolder’s right of recourse against drawn and indorsers

s. 131H

131H. Holder’s right of recourse against drawn and indorsers 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. [Holder may refuse qualified acceptance] 131-I. The holder of a bill of exchange may refuse to take a qualified acceptance, and if he does not obtain an unqualified acceptance, may treat the bill as dishonoured by non-acceptance.]