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
Where the holder of a bill payable to bearer negotiates it by delivery without indorsing it, he is called a “transferor by delivery”.
holder
“holder” means the payee or indorsee of a bill or note who is in possession of it, or the bearer thereof;
A transferor by delivery is not liable on the instrument.
delivery
“delivery” means transfer of possession, actual or constructive, from one person to another;
A transferor by delivery who negotiates a bill thereby warrants to his immediate transferee being a holder for value that the bill is what it purports to be, that he has a right to transfer it, and that at the time of transfer he is not aware of any fact which renders it valueless.
Discharge of bill
bearer
“bearer” means the person in possession of a bill or note which is payable to bearer;
delivery
“delivery” means transfer of possession, actual or constructive, from one person to another;
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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