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THE HONGKONG GOVERNMENT GAZETTE, 9TH MAY, 1885.
Crossing
sautoriál puert of cheque.
Duties of banker us to
Crusant
cheques.
Protection to banker and drawer where chopar is crossed.
Efert of crossing on holder.
Protection tu collecting bruker.
78. A crossing authorised by this Ordinance is a material part of the cheque; it shall not be lawful for any person to obliterate or, except as authorised by this Ordinance, to add to or alter the crossing.
79. (1.) Where a cheque is crossed specially to more than one banker, except when crossed to an agent for collection being a banker, the banker on whom it is drawn shall refuse payment thereof.
(2.) Where the banker on whom a cheque is drawn which is so crossed nevertheless pays the same, or pays a cheque crossed generally otherwise than to a banker, or if crossed specially otherwise than to the banker to whom it is crossed, or his agent for collection being a banker, he is liable to the true owner of the cheque for any loss he may sustain owing to the cheque having been so paid.
Provided that where a cheque is presented for payment which does not at the time of presentment appear to be crossed, or to have had a crossing which has been obliterated, or to have been added to or altered otherwise than as authorised by this Ordinance, the banker paying the cheque in good faith and without negligence shall not be responsible or incur any liability, nor shall the payment be questioned by reason of the cheque having been crossed, or of the crossing having been obliterated or having been added to or altered otherwise than as authorised by this Ordinance, and of payment having been made otherwise than to a banker or to the banker to whom the cheque is or was crossed, or to his agent for collection being a banker, as the case may be.
80. Where the banker, on whom a crossed cheque is drawn, in good faith and without negligence pays it, if crossed generally, to a banker, and if crossed specially, to the banker to whom it is crossed, or his agent for collection being a banker, the banker paying the cheque, and, if the cheque has come into the hands of the payee, the drawer, shall respectively be entitled to the same rights and be placed in the same position as if payment of the cheque had been made to the true owner thereof.
81. Where a person takes a crossed cheque which bears on it the words "not negotiable," he shall not have and shall not be capable of giving a better title to the cheque than that which the person from whom he took it had.
82. Where a banker in good faith and without negligence receives payment for a customer of a cheque crossed generally or specially to himself, and the customer has no title or a defective title thereto, the banker shall not incur any liability to the true owner of the cheque by reason only of having received such payment.
Promissory
ore doined.
Delivery necessary.
Joint and
several netés,
PART IV.
PROMISSORY NOTES.
83. (1.) A promissory note is an unconditional promise in writing made by one person to another signed by the maker, engaging to pay, on demand or at a fixed or determinable future time, a sum certain in money, to, or to the order of, a specified person or to bearer.
(2.) An instrument in the form of a note payable to maker's order is not a note within the meaning of this section unless and until it is indorsed by the maker.
(3.) A note is not invalid by reason only that it contains also a pledge of collateral security with authority to sell or dispose thereof.
(4.) A note which is, or on the face of it purports to be, both made and payable within this Colony is an inland note. Any other note is a foreign note.
84. A promissory note is inchoate and incomplete until delivery thereof to the payee or bearer.
85. (1.) A promissory note may be made by two or more makers, and they may be liable thereon jointly, or jointly and severally according to its tenour.
(2.) Where a note runs "I promise to pay" and is signed by two or more persons, it is deemed to be their joint and several note.