Cheque Handed To Notary For Protest And Lost By Him - Responsibility Of Presenting Bank
This section is from the book "Canadian Banking Practice", by John T. P. Knight.
This section is from the "" book, by .
Cheque Handed To Notary For Protest And Lost By Him - Responsibility Of Presenting Bank
Question 328. - What responsibility does a bank assume in handing a cheque or note to a notary for protest if he should destroy or lose it?
Answer. - Since the notary is the bank's selected agent for presentation and sending notice of dishonour, the bank would be liable for his laches. But demand for payment may be made and notice of dishonour sent on a copy of the bill or written particulars. (See sections 120, 156 and 157, Bills of Exchange Act.)
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