BILLS OF EXCHANGE

CHAPTER 48:02
BILLS OF EXCHANGE

ARRANGEMENT OF SECTIONS

    SECTION

PART I
PRELIMINARY

    1.    Short title

    2.    Interpretation

PART II
BILLS OF EXCHANGE

Form and Interpretation

    3.    Bill of exchange defined

    4.    Inland and foreign bills

    5.    Effect where different parties to bill are the same person

    6.    Address to drawee

    7.    Certainty required as to payee

    8.    What bills are negotiable

    9.    Sum payable

    10.    Bill payable on demand

    11.    Bill payable at a future time

    12.    Omission of date in bill payable after date

    13.    Ante-dating and post-dating

    14.    Computation of time of payment

    15.    Case of need

    16.    Optional stipulations by drawer or indorser

    17.    Definition and requisites of acceptance

    18.    Time for acceptance

    19.    General and qualified acceptances

    20.    Inchoate instruments

    21.    Delivery

Capacity and Authority of Parties

    22.    Capacity of parties

    23.    Signature essential to liability

    24.    Forged or unauthorized signature

    25.    Procuration signatures

    26.    Person signing as agent or in representative capacity

The Consideration for a Bill

    27.    Value and holder for value

    28.    Accommodation bill or party

    29.    Holder in due course

    30.    Presumption of value and good faith

Negotiation of Bills

    31.    Negotiation of bill

    32.    Requisites of a valid indorsement

    33.    Conditional indorsement

    34.    Indorsement in blank and special indorsement

    35.    Restrictive indorsement

    36.    Negotiation of overdue or dishonoured bill

    37.    Negotiation of bill to party already liable thereon

    38.    Rights of the holder

General Duties of the Holder

    39.    When presentment for acceptance is necessary

    40.    Time for presenting bill payable after sight

    41.    Rules as to presentment for acceptance, and excuses for non-presentment

    42.    Non-acceptance

    43.    Dishonour by non-acceptance and its consequences

    44.    Duties as to qualified acceptance

    45.    Rules as to presentment for payment

    46.    Excuses for delay or non-presentment for payment

    47.    Dishonour by non-payment

    48.    Notice of dishonour and effect of non-notice

    49.    Rules as to notice of dishonour

    50.    Excuses for non-notice and delay

    51.    Noting or protest of bill

    52.    Duties of holder as regards drawee or acceptor

Liabilities of Parties

    53.    Funds in hands of drawee

    54.    Liability of acceptor

    55.    Liability of drawer or indorser

    56.    Stranger signing bill liable as indorser

    57.    Measure of damages against parties to dishonoured bill

    58.    Transferor by delivery and transferee

Discharge of Bill

    59.    Payment in due course

    60.    Banker paying demand draft whereon indorsement is forged

    61.    Acceptor the holder at maturity

    62.    Express waiver

    63.    Cancellation

    64.    Alteration of bill

Acceptance and Payment for Honour

    65.    Acceptance for honour supra protest

    66.    Liability of acceptor for honour

    67.    Presentment to acceptor for honour

    68.    Payment for honour supra protest

Lost Instruments

    69.    Holder’s right to duplicate of lost bill

    70.    Action on lost bill

Bill in a Set

    71.    Rules as to sets

Conflict of Laws

    72.    Rules where laws conflict

PART III
CHEQUES ON A BANKER

    73.    Cheque defined

    74.    Presentment of cheque for payment

    75.    Revocation of banker’s authority

    76.    Rights of bankers collecting cheques not indorsed by holders

    77.    Unindorsed cheques as evidence of payment

    78.    Protection of bankers paying unindorsed or irregularly indorsed cheques, etc.

    79.    Protection of bankers collecting payment of cheques, etc.

Crossed Cheques

    80.    General and special crossings defined

    81.    Crossing by drawer or after issue

    82.    Crossing a material part of cheque

    83.    Duties of banker as to crossed cheques

    84.    Protection to banker and drawer where cheque is crossed

    85.    Effect of crossing on holder

    86.    Application of certain provisions of this Act to instruments not being bills of exchange

    87.    Government to be regarded as a customer of a banker

    88.    Construction

PART IV
PROMISSORY NOTES

    89.    Promissory note defined

    90.    Delivery necessary

    91.    Joint and several notes

    92.    Note payable on demand

    93.    Presentment of note for payment

    94.    Liability of maker

    95.    Application of Part II to notes

PART V
SUPPLEMENTARY

    96.    Good faith

    97.    Signature

    98.    Computation of time

    99.    When noting equivalent to protest

    100.    Protest when notary not accessible

    101.    Dividend warrants may be crossed

    102.    Savings

        Schedule

CHAPTER 48:02
BILLS OF EXCHANGE

15 of 1967

    An Act relating to Bills of Exchange, Cheques and Promissory Notes, and Matters Incidental thereto

PART I
PRELIMINARY

1.    Short title

…