CAP. 19]
Bills of Exchange.
【1964 Ed.
Bill payable on demand. 45 & 46 Vict. c. 61, s. 10.
Bill payable at future time.
45 & 46 Vict.
c. 61, s. 11.
Omission of date in bill payable after date.
45 & 46 Vict. c. 61, s. 12.
Ante-dating and post-dating. 45 & 46 Vict. c. 61, s. 13.
(d) according to an indicated rate of exchange or according to a rate of exchange to be ascertained as directed by the bill.
(2) Where the sum payable is expressed in words and also in figures, and there is a discrepancy between the two, the sum denoted by the words is the amount payable.
(3) Where a bill is expressed to be payable with interest, unless the instrument otherwise provides, interest runs from the date of the bill, and, if the bill is undated, from the issue thereof.
10. (1) A bill is payable on demand-
(a) which is expressed to be payable on demand, or at sight,
or on presentation; or
(b) in which no time for payment is expressed.
(2) Where a bill is accepted or indorsed when it is overdue, it shall, as regards the acceptor who so accepts or any indorser who so indorses it, be deemed a bill payable on demand.
11. (1) A bill is payable at a determinable future time within the meaning of this Ordinance which is expressed to be payable-
(a) at a fixed period after date or sight;
(b) on or at a fixed period after the occurrence of a specified event which is certain to happen, though the time of happening may be uncertain.
(2) An instrument expressed to be payable on a contingency is not a bill, and the happening of the event does not cure the defect.
12. Where a bill expressed to be payable at a fixed period after date is issued undated, or where the acceptance of a bill payable at a fixed period after sight is undated, any holder may insert therein the true date of issue or acceptance, and the bill shall be payable accordingly:
Provided that-
(a) where the holder in good faith and by mistake inserts a wrong date; and
(b) in every case where a wrong date is inserted,
if the bill subsequently comes into the hands of a holder in due course, the bill shall not be avoided thereby, but shall operate and be payable as if the date so inserted had been the true date.
13. (1) Where a bill or an acceptance or any indorsement on a bill is dated, the date shall, unless the contrary is proved, be deemed to be the true date of the drawing, acceptance, or indorsement, as the case may be.