Chapter V - Of Presentment
Section 67
Section 67: Presentment of a note payable by instalments
Section 67 specifies presentment for each instalment of a promissory note and the effect of non-payment on that presentment.
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Need advice on Section 67?
This article is for general information. Refer to the Negotiable Instruments Act, 1881 official text for the official provisions. If you need professional advice for your situation, contact Bizeneed.
Statutory text
Bare law
A promissory note payable by instalments must be presented for payment on the third day after the date fixed for payment of each instalment; and non-payment on such presentment has the same effect as non-payment of a note at maturity.
Key rule and applicability
The note is presented for payment on the third day after each instalment’s fixed payment date. Non-payment on that presentment has the same effect as non-payment of a note at maturity.
Limits and related provisions
Apply the rule to the stated promissory note, not every commercial instalment contract. Keep each instalment’s date and presentment separate, and check the Act’s relevant holiday and presentment provisions when fixing the actual procedural step.
Hypothetical business example
Hypothetical: a qualifying note fixes an instalment for 10 June. Its section 67 presentment point is the third day after that date, subject to the relevant legal calendar analysis; the holder records the instalment-specific demand and response.
Practical decision flow
Read the note’s instalment schedule and identify each fixed date.
Calculate and record the section 67 presentment day for each instalment.
Preserve the demand and non-payment evidence before assessing the maturity-equivalent consequences.
Practical checklist
Do
- Read the note’s instalment schedule and identify each fixed date.
- Calculate and record the section 67 presentment day for each instalment.
- Preserve the demand and non-payment evidence before assessing the maturity-equivalent consequences.
Avoid
- Apply the rule to the stated promissory note, not every commercial instalment contract. Keep each instalment’s date and presentment separate, and check the Act’s relevant holiday and presentment provisions when fixing the actual procedural step.
Glossary
- Instalment
- One of the scheduled parts of the note’s payment obligation.
- Presentment record
- Evidence of the payment demand for the particular instalment.
Frequently asked questions
Is presentment tied only to the last instalment?
No. The text refers to each instalment.
What timing does the section state?
The third day after the date fixed for payment of each instalment.
What is the stated effect of non-payment?
It has the same effect as non-payment of a note at maturity.
Need help applying this provision to your situation?
Contact BizeneedLast updated 10 October 2026