Home  /  Negotiable Instruments Act  /  Section 66

Section 66: Presentment for payment of instrument payable after date or sight

Negotiable Instruments Act • Official Statutory Text & Practice Guide

Statutory Regulation
Legal Standard
Competent Court / Tribunal
Act 1881
Section 65 All 148 Sections of Negotiable Instruments Act Section 67

Legal Commentary & Landmark Judgments: Section 66

Section 66 regulates presentment for payment of an instrument payable at a specified period after date or sight, enacting that it must be presented for payment at maturity.

  • Presentment Exactly at Maturity: Time-bills and time-notes must be presented on the exact date of maturity (inclusive of grace days).
  • Premature Presentment Invalid: Presentment before maturity is legally inoperative and does not constitute due presentment under the Act.
  • Belated Presentment Fatal: Presentment after maturity discharges all indorsers and secondary parties under Section 64.
Key Landmark Precedents:
  • Gibb v. Mather (1832) 8 Bing 214: The classical authority holding that a time-bill must be presented on the very day it falls due to hold prior indorsers liable.
  • Ram Singh v. Gulab Rai: Affirmed that presentment on any date other than the statutory maturity date invalidates the dishonour process against sureties.
Courtroom Practice & Strategic Litigation Guidance:

Always audit the maturity calculation under Sections 22-25 before presenting a term bill. If a 90-day bill with 3 days of grace is presented on day 92, the presentment is void and the drawer can claim premature demand.

Section 65 All 148 Sections of Negotiable Instruments Act Section 67