107. A party receiving notice of dishonour, who seeks to enforce his right against a prior party, transmits the notice within a reasonable time if he transmits it within the same time after its receipt as he would have had to give notice if he had been the holder.
Negotiable Instruments Act, 1881
Section 107: Reasonable time for transmitting such notice
Chapter X — Of Reasonable Time
Source: official text of the Negotiable Instruments Act, 1881.