In force2023 Revised EditionCurrent version · 2023 Revised EditionSee versions on Attorney General's Chambers(opens the publisher’s site)
Bills of Exchange Act · 2023 Revised Edition · Part 2
Bills of Exchange Act · 2023 Revised Edition · Part 2
Official textFrom Attorney General's Chambers, unchanged
Capacity to incur liability as a party to a bill is co-extensive with capacity to contract:
Provided that nothing in this section shall enable a body corporate to make itself liable as drawer, acceptor, or indorser of a bill unless it is competent to it to do so under the law for the time being in force relating to companies.
Where a bill is drawn or indorsed by a minor or body corporate having no capacity or power to incur liability on a bill, the drawing or indorsement entitles the holder to receive payment of the bill, and to enforce it against any other party thereto.
Bills of Exchange
holder
“holder” means the payee or indorsee of a bill or note who is in possession of it, or the bearer thereof;
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