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
Subject to the provisions of this Act, when a bill payable after sight is negotiated, the holder must either present it for acceptance or negotiate it within a reasonable time.
If he does not do so, the drawer and all indorsers prior to that holder are discharged.
holder
“holder” means the payee or indorsee of a bill or note who is in possession of it, or the bearer thereof;
In determining what is a reasonable time within the meaning of this section, regard shall be had to the nature of the bill, the usage of trade with respect to similar bills, and the facts of the particular case.
Bills of Exchange 26
acceptance
“acceptance” means an acceptance completed by delivery or notification;
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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