Q.21. What do you mean by Noting of the
Bill?
NOTING OF THE
BILL
When the bill of exchange is
dishonoured by the party, the holder of the bill has a legal right to take
action against them. In this regard he prepares a type of Public Notice. It is
known as Notery Public which is attached along with the bill and is again
presented for repayment. Usually this entry of the bill is made on a separate
attached with the bill. If the payment is not made i.e. refused again then the
date of the presentation the reference of the register with his signature is
entered in the notice. This is called Notice of the Bill.
PROTESTING OF
THE BILL
Sometimes due to refusal of payment a
certificate or document is issued by the notary public containing all the
information about the dishonour. This document is known as protest of the bill.
It contains
i. Attested copy of the bill.
ii. Signature of Notery Public.
iii. The name of the person whose
bill was protested.
iv. The date and amount of the
protest.
v. The cause of the protest.
vi. The reply of the drawee.
vii. The reason of absence of the
drawee and the accepted.
viii. The reason for the non-payment
of the bill.
ix. The certificate stamp of the
notery public.
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