Sec.   70.   Effect   of   want   of   demand   on   principal   debtor.   - Presentment  for  payment  is  not  necessary  in  order  to  charge  the person primarily liable on the instrument; but if the instrument is, by its terms, payable at a special place, and he is able and willing to  pay  it  there  at  maturity,  such  ability  and  willingness  are equivalent  to  a  tender  of  payment  upon  his  part.  But  except  as herein otherwise provided, presentment for payment is necessary in order to charge the drawer and indorsers.
 

MEANING OF PRESENTMENT FOR PAYMENT

•      Production of a bill of exchange to the drawee for his acceptance, or to the  drawee  or  acceptor  for  payment  or  the  production  of  the promissory note to the person liable for payment of the same
1.    Personal demand for payment at the proper place
2.    With the bill or note in readiness to exhibit it as required and to receive payment and surrender it if the debtor is willing to pay
 

PRESENTMENT  FOR  PAYMENT  NOT  NECESSARY  TO  CHARGE  PERSONS PRIMARILY LIABLE

•      It cannot be validly claimed that it is presentment of the bill which is the operative  act that makes the acceptor liable under his acceptance
 

PAYABLE AT A SPECIAL PLACE

•      If the bill is payable at the PNB, is it necessary to make presentment for  payment  to X  in  order  to  charge  him?    No,  the  rule  is  the  same.  The only effect is that if, X is able and willing to pay the bill at the PNB at  maturity,  it  is  equivalent  to  a  tender  of  payment  on  the  part  of drawee X.
 
PRESENTMENT NECESSARY TO CHARGE PERSONS SECONDARILY LIABLE
 

NECESSARY STEPS TO CHARGE PERSONS SECONDARILY LIABLE IN BILLS OF EXCHANGE

1.    In the three steps required by law, presentment for acceptance to the drawee or negotiation within reasonable time after acquisition unless excused
2.    If the bill is dishonored by non-acceptance, notice of dishonor by non-acceptance  must  be  given  to  persons  secondarily  liable unless  excused  and  in  case  of  foreign  bills,  protest  for  dishonor by non-acceptance must be made unless excused

3.    But  if  the  bill  is  accepted,  or  if  the  bill  isn’t  required  to  be presented  for  acceptance,  it  must  be  presented  for  payment  to the persons primarily liable unless excused
4.    If  the  bill  is  dishonored  by  non-payment,  notice  of  dishonor  by non-payment must be also be given to person secondarily liable unless excused, and in case of foreign bills, protest for dishonor by non-pay7ment must be made unless excused
 

NECESSARY STEPS TO CHARGE PERSONS SECONDARILY LIABLE

•      Presentment for payment must be made within the period required to the person primarily liable unless excused
•      If the note is dishonored by non-payment, notice of dishonor by non-payment must be given to the person secondarily liable unless excused