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 a bill of exchange has been protested for dishonour by non-acceptance or protested for better security, and is not overdue, any person, not being a party already liable thereon may, with the consent of the holder, intervene and accept the bill supra protest, for the honour of any party liable thereon, or for the honour of the person for whose account the bill is drawn.
A bill may be accepted for honour for part only of the sum for which it is drawn.
An acceptance for honour supra protest in order to be valid must —
acceptance
“acceptance” means an acceptance completed by delivery or notification;
be written on the bill, and indicate that it is an acceptance for honour; and
be signed by the acceptor for honour.
Where an acceptance for honour does not expressly state for whose honour it is made, it is deemed to be an acceptance for the honour of the drawer.
Bills of Exchange
Where a bill payable after sight is accepted for honour, its maturity is calculated from the date of the noting for non-acceptance, and not from the date of the acceptance for honour.
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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