Section 75 NI Act: Presentment by or to agent, representative of deceased, or assignee of insolvent

Negotiable Instruments Act, 1881

Section 75 NI Act at a Glance

Section 75 NI Act allows presentment for acceptance or payment to be made to the duly authorized agent of the drawee, maker, or acceptor, to the legal representative if the party has died, or to the assignee if declared an insolvent.

Section 75 NI Act Bare Act Text

75. Presentment by or to agent, representative of deceased, or assignee of insolvent.
Presentment for acceptance or payment may be made to the duly authorized agent of the drawee, maker or acceptor, as the case may be, or, where the drawee, maker or acceptor has died, to his legal representative, or, where he has been declared an insolvent, to his assignee.

Section 75 NI Act in Simple Words

Section 75 NI Act identifies the persons to whom presentment for acceptance or payment may be made in place of the drawee, maker, or acceptor personally. Although the section heading refers to presentment 'by or to' an agent, the operative text of Section 75 NI Act addresses who may receive presentment for acceptance or payment.

Section 75 NI Act sets out three cases in which presentment for acceptance or payment may be made to another person: first, to the duly authorized agent of the drawee, maker, or acceptor, as the case may be; second, where the drawee, maker, or acceptor has died, to the legal representative of that deceased party; third, where the drawee, maker, or acceptor has been declared an insolvent, to the assignee of that insolvent party.

When Section 75 NI Act Applies

Presentment is for acceptance or payment of an instrument.
Presentment may be made to the duly authorized agent of the drawee, maker, or acceptor, as the case may be.
Where the drawee, maker, or acceptor has died, presentment may be made to the legal representative of that party.
Where the drawee, maker, or acceptor has been declared an insolvent, presentment may be made to the assignee of that party.

Example of Section 75 NI Act

Sandeep makes a promissory note for ₹75,000 payable to Shabnam in Kota. Before the note is presented for payment, Sandeep dies. Under Section 75 NI Act, because Sandeep (the maker) has died, Shabnam may present the promissory note for payment to Sandeep's legal representative.

FAQs on Section 75 NI Act

What is Section 75 NI Act?▼

Section 75 NI Act states to whom presentment for acceptance or payment may be made when dealing with an agent, a deceased party, or an insolvent party. Presentment may be made to the duly authorized agent of the drawee, maker, or acceptor, to the legal representative if that party has died, or to the assignee if that party has been declared an insolvent.

To whom may presentment be made if the maker, drawee, or acceptor has died?▼

To the legal representative of the deceased maker, drawee, or acceptor. Section 75 NI Act permits presentment for acceptance or payment to the legal representative where the drawee, maker, or acceptor has died.

To whom may presentment be made if the drawee, maker, or acceptor has been declared an insolvent?▼

To the assignee of the insolvent party. Section 75 NI Act allows presentment for acceptance or payment to be made to the assignee where the drawee, maker, or acceptor has been declared an insolvent.

Can presentment under Section 75 NI Act be made to any employee or representative of a living and solvent maker?▼

No, only to a duly authorized agent. Section 75 NI Act requires the agent to be the duly authorized agent of the drawee, maker, or acceptor.

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Disclaimer: This is for informational purposes only. Always consult a qualified advocate for legal advice.

Sources: Bare Act Text, Negotiable Instruments Act, 1881 (India Code) ·