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[Cites 0, Cited by 0] [Section 47] [Entire Act]

British India - Subsection

Section 47(1) in Bills of Exchange Act 1882

(1)A bill is dishonoured by non-payment (a) when it is duly presented for payment and payment is refused or cannot be obtained, or (b) when presentment is excused and the bill is overdue and unpaid.