CAP. 19]
Originally
9 of 1885.
Fraser
3 of 1885.
45 & 46 Vict. c. 61.
Bills of Exchange.
CHAPTER 19.
BILLS OF EXCHANGE.
To codify the law relating to bills of exchange, cheques and promissory notes.
[4th May, 1885.]
Short title.
Interpretation.
(Cap. 149.)
PART I.
Preliminary Provisions.
1. This Ordinance may be cited as the Bills of Exchange Ordinance.
2. In this Ordinance-
"acceptance" means an acceptance completed by delivery or notification;
"action" means action or suit and includes counterclaim and set-off;
"banker" includes a body of persons, whether incorporated or not, who carry on the business of banking;
"bankrupt" includes any person whose estate is vested in a trustee or assignee under the law relating to bankruptcy;
"bearer" means the person in possession of a bill or note which is payable to bearer;
"bill" means bill of exchange, and "note" means promissory note;
"delivery" means transfer of possession, actual or constructive, from one person to another;
"general holiday" has the same meaning as in the Holidays Ordinance;
"holder" means the payee or indorsee of a bill or note who is in possession of it, or the bearer thereof;
"indorsement" means an indorsement completed by delivery;
"issue" means the first delivery of a bill or note, complete in form, to a person who takes it as a holder;
"person" includes a body of persons, whether incorporated or not;
"value" means valuable consideration.
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