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Section 148Sec./Art. 148
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Where presentment is excused.- Presentment for acceptance is excused, and a bill may be treated as dishonored by nonacceptanee, in either of the following cases:
(a) Where the drawee is dead, or has absconded, or is a fictitious person or a person not having capacity to contract by bill.
(b) Where, after the exercise of reasonable diligence, presentment can not be made.
(c) Where, although presentment has been irregular, acceptance has been refused on some other ground.
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