(1)Where a promissory note is in the body of it made payable at a particular place, it must be presented for payment at that place in order to render the maker liable. In any other case, presentment for payment is not necessary in order to render the maker liable.
(2)Presentment for payment is necessary in order to render the indorser of a note liable.
(3)Where a note is in the body of it made payable at a particular place, presentment at that place is necessary in order to render an indorser liable; but when a place of payment is indicated by way of memorandum only, presentment at that place is sufficient to render the indorser liable, but a presentment to the maker elsewhere, if sufficient in other respects, shall also suffice.
[F1(4)This section is subject to Part 4A (presentment by electronic means).]
Textual Amendments
F1S. 87(4) inserted (26.3.2015, 31.7.2016 in so far as not already in force) by Small Business, Enterprise and Employment Act 2015 (c. 26), ss. 13(5), 164(4)