Explanation:

- Section 90: Deals with the effect of material alteration in negotiable instruments. It does not address dishonour by non-payment.

- Section 91: Covers dishonour by non-acceptance. It describes what happens if a bill of exchange is not accepted, not about non-payment.

- Section 92: This section is about dishonour by non-payment. It states that a promissory note, bill of exchange, or cheque is dishonoured by non-payment when the person primarily liable makes default in payment at maturity. (Correct Answer)

- Section 93: Talks about notice of dishonour. It specifies the requirement for giving notice when a negotiable instrument is dishonoured.