धारा 59

This section deals with the notice of dishonor of a negotiable instrument. According to Section 59 of the Negotiable Instruments Act, 1881, 'when a promissory note, bill of exchange or cheque is dishonored by non-acceptance or non-payment, the holder shall cause a notice of dishonor to be given to the drawer and to each endorser, and any person to whom the instrument is delivered for presentment.' The section further explains that the notice of dishonor must be given within a reasonable time after the dishonor. The section also provides that the notice can be given by the holder or by his agent. The Madras High Court has held that the notice of dishonor must be given to the drawer and the endorser within a reasonable time (Canara Bank v. S. R. S. Engineering, AIR 1992 Mad 135).