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
Valuable consideration for a bill may be constituted by —
any consideration sufficient to support a simple contract;
an antecedent debt or liability; and such a debt or liability is deemed valuable consideration whether the bill is payable on demand or at a future time.
Where value has at any time been given for a bill the holder is deemed to be a holder for value as regards the acceptor and all parties to the bill who became parties prior to such time.
Where the holder of a bill has a lien on it arising either from contract or by implication of law, he is deemed to be a holder for value to the extent of the sum for which he has a lien.
holder
“holder” means the payee or indorsee of a bill or note who is in possession of it, or the bearer thereof;
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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