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
The holder of a bill may refuse to take a qualified acceptance, and if he does not obtain an unqualified acceptance, may treat the bill as dishonoured by non-acceptance.
holder
“holder” means the payee or indorsee of a bill or note who is in possession of it, or the bearer thereof;
Where a qualified acceptance is taken, and the drawer or an indorser has not expressly or impliedly authorised the holder to take a qualified acceptance, or does not subsequently assent thereto, such drawer or indorser is discharged from his liability on the bill. This subsection does not apply to a partial acceptance, whereof due notice has been given. Where a foreign bill has been accepted as to part, it must be protested as to the balance.
acceptance
“acceptance” means an acceptance completed by delivery or notification;
When the drawer or indorser of a bill receives notice of a qualified acceptance, and does not, within a reasonable time, express his dissent to the holder, he is deemed to have assented thereto.
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;
Part
Part
Part