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Section 62

Express waiver or renunciation

of Bills of Exchange Act 1949

ActIn forceProvision 62 of 107
Section 62
(1)

When the holder of a bill at or after its maturity absolutely and unconditionally renounces his rights against the acceptor, the bill is discharged.

The renunciation must be in writing, unless the bill is delivered up to the acceptor.

(2)

The liabilities of any party to a bill may, in like manner, be renounced by the holder before, at, or after its maturity; but nothing in this section shall affect the rights of a holder in due course without notice of renunciation.

Read in full context — Bills of Exchange Act 1949 →