Section 42: Non-acceptance.
1917Section 42 of 98•Federal Republic of Nigeria
When a bill is duly presented for acceptance and is not accepted within the customary time, the person presenting it must treat it as dishonoured by non-acceptance. If he does not, the holder shall lose his right of recourse against the drawer and endorsers.
Cite this section
Section 42, BILLS OF EXCHANGE ACT (1917).
https://repo.podus.ai/laws/bills-of-exchange-act/section/42/