Negotiable Instruments Act Section 63 — Drawee’s time for deliberation

CHAPTER IV OF NEGOTIATION

General

Summary

When a bill of exchange is presented for acceptance, the person who is asked to accept it (the drawee) can request time to think it over. If they do, the holder of the bill must give them 48 hours to decide, not counting public holidays. This means the drawee has that full period to make up their mind before they are expected to accept or refuse.

Official Text

The holder must, if so required by the drawee of a bill of exchange presented to him for acceptance, allow the drawee 2[forty-eight] hours (exclusive of public holidays) to consider whether he will accept it.