Presentment Law and Legal Definition
Presentment means making a demand for payment of a promissory note when it is due. Dishonor of a note is governed by the following rules: (1) If the note is payable on demand, the note is dishonored if presentment is duly made to the maker and the note is not paid on the day of presentment. A "deferred presentment transaction" as a transaction in which a person licensed by the department of financial institutions (licensee) cashes a customer's check without presenting the check for payment for up to 31 days. On the Internet, electronic bill presentment and payment (EBPP) is a process that enables bills to be created, delivered, and paid over the Internet. The service has applications for many industries, from financial service providers to telecommunications companies and utilities.
In another context, it refers to a report to a court by a Grand Jury, that a "public" crime (illegal act by public officials or affecting the public good) has been committed. The Grand Jury delivers a presentment on its own initiative without a request or presentation of evidence by the local prosecutor.
If, after hearing and reviewing evidence presented to it, a grand jury determines there is sufficient evidence of criminal activity, the grand jury issues a written document called a presentment. The presentment summarizes the evidence the grand jury has heard and recommends that prosecutors file specific charges against specific persons. Under some state law, a prosecutor is not required to follow the grand jury's recommendation that criminal charges be filed. In most cases, the prosecutor does follow the grand jury's recommendations and often uses the grand jury presentment as the basis of the "affidavit of probable cause" needed to file criminal charges.