Hong Kong Ordinances
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BILLS OF EXCHANGE ORDINANCE - SECT 42
Non-acceptance
When a bill is duly presented for acceptance and is not accepted within the
customary time, the person presenting it must treat it as dishonoured by
non-acceptance. If he does not, the holder shall lose his right of recourse
against the drawer and indorsers. [cf. 1882 c. 61 s. 42 U.K.]
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