Collection has been received with no instructions to NOTE and/or PROTEST the bill. When the remitting bank has been advised that collection remains unpaid/unaccepted. The remitting bank has then instructed us to NOTE/PROTEST the bill.
Our question: Is this acceptable as it appears to contradict the above article?
Article 24 URC 522
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MichaelFlanagan
- Posts: 15
- Joined: Fri Apr 05, 2019 5:14 pm
Article 24 URC 522
Without liability/responsibility:
I personally do not see how giving amended instructions contradicts the above article. Nonetheless, I believe a presenting bank would be entitled to refuse to carry them out, under advice. Whatever, if Australian law is modelled on the UK Bills of Exchange Act 1882 isn’t it too late to protest? If I understand S51(4) correctly noting, or in the absence of noting, protest must take place no later than the day following dishonour.
[edited 3/17/03 10:49:49 AM]
I personally do not see how giving amended instructions contradicts the above article. Nonetheless, I believe a presenting bank would be entitled to refuse to carry them out, under advice. Whatever, if Australian law is modelled on the UK Bills of Exchange Act 1882 isn’t it too late to protest? If I understand S51(4) correctly noting, or in the absence of noting, protest must take place no later than the day following dishonour.
[edited 3/17/03 10:49:49 AM]