PRESENTMENT FOR ACCEPTABCE

Is only required for certain types bills of exchange.

Effects:
If presented even if not required:
GENEREAL EFFETCT: Drawee will not become a party to the
instrument. Hence, will not be held liable.
If required to be presented and didnt present it,
Drawee will not become a party PLUS those secondarily liable will be
discharged including the drawer.
So know how presentment is made. Comply with the requirement OTHERWISE,
its as if theres no presentment is made.

WHO made: By or on behalf of the holder or his authorized representative (Sec. 145).
When: At a reasonable hour on a business day before the instrument becomes
overdue. (Sec 146).
To WHOM: To Drawee or authorized to accept or refuse the acceptance.
There are entities requiring special attention i.e. Bill addressed to two or more
drawees:
If not partners: present to each.
If partners, anyone can be presented with the instrument.
If dead, present it to his personal representative.
Assignment:
Here, the Drawee made an arrangement with the creditor. So instead of giving
him (drawee) the money he borrowed, it will be given to someone who presents
the BOE (that he is supposed to accept). So this refers to either, creditor of
drawee himself or drawee being the creditor of someone else. So its not to
the drawee that you present the instrument. But to whom to he assigned.
Bankrupt and Insolvent: presentment is not excused but you are provided with options:
1. Drawee itself or trustee (bankrupt and insolvent) or 2. Assignee (for the benefit of
creditor).
Section 85 and 86: Time of maturity
If Sunday or holiday: next business day.
Presentment for acceptance vs. Presentment for payment
Presentment for acceptance:
Saturday if not a holiday - before 12 noon. If 12 noon already, presentment
is not made or irregular. Hence, Secondarily liable will be liable
Presentment for payment:

 Depends if time or demand instrument. If TIME, no option given. So, do it

on the next succeeding day. If demand, options are: Saturday 12 noon or
next succeeding day.
EXCUSE ON ITS DELAY
Acceptance should be made before instrument matures. If no sufficient time
(Sec. 147) to make presentment for acceptance and payment, presentment for
payment may be excused at least for the delay but not for the payment itself.
Example: If presented for acceptance in Cebu and to be paid in US the next day.
You dont have enough time to arrive at US the next day. So excused for the
delay of presentment for payment BUT, you have to do the presentment of
acceptance first. OW, those secondarily liable will be discharged. And if not
presented for payment, the same effect.
When excused, Sec 148 and does not only refer to excuse on its delay.