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Negotiable Instruments Act, 1881

Section 83: Discharge by allowing drawee more than forty-eight hours to accept

Chapter VII — Of Discharge from Liability on Notes, Bills and Cheques

83. If the holder of a bill of exchange allows the drawee more than [forty-eight] hours, exclusive of public holidays, to consider whether he will accept the same, all previous parties not consenting to such allowance are thereby discharge from liability to such holder.

Source: official text of the Negotiable Instruments Act, 1881.