(1) A bill is dishonoured by non-acceptance—
(a) when it is duly presented for acceptance, and such an acceptance as is hereby prescribed is refused or cannot be obtained; or
(b) when presentment for acceptance is excused and the bill is not accepted.
(2) When a bill is dishonoured by non-acceptance, an immediate right of recourse against the drawer and indorsers accrues to the holder, and no presentment for payment is necessary.