धारा 45

According to Section 45 of the Negotiable Instruments Act, 1881, a bill of exchange is deemed to be accepted if the drawee, after being presented with the bill, fails to refuse acceptance within a reasonable time. The section states that 'a bill of exchange is deemed to be accepted if the drawee, after being presented with the bill, fails to refuse acceptance within a reasonable time'. The section further explains that what constitutes a reasonable time is a question of fact which depends on the circumstances of each case. The Supreme Court has held in 'Bank of India vs. Rangachari' (1992) that the reasonable time for acceptance is a question of fact which depends on the circumstances of each case.