105. Reasonable time.—In determining what is a reasonable time for presentment for acceptance or
payment, for giving notice of dishonour and for noting, regard shall be had to the nature of the instrument
and the usual course of dealing with respect to similar instruments; and, in calculating such time, public
holidays shall be excluded.
106. Reasonable time of giving notice of dishonour.—If the holder and the party to whom notice of
dishonour is given carry on business or live (as the case may be) in different places, such notice is given
within a reasonable time if it is dispatched by the next post or on the day next after the day of dishonour.
If the said parties carry on business or live in the same place, such notice is given within a reasonable
time if it is dispatched in time to reach its destination on the day next after the day of dishonour.
107. Reasonable time for transmitting such notice.—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
1. Ins. by Act 2 of 1885, s. 5.
2. Ins. by s. 6, ibid.
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transmits it within the same time after its receipt as he would have had to give notice if he had been the
holder.