1964 Ed.]
Bills of Exchange.
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(b) subject to the provisions of this Ordinance, the interpretation of the drawing, indorsement, acceptance, or acceptance suprà protest of a bill is determined by the law of the place where such contract is made:
Provided that where an inland bill is indorsed in a foreign country, the indorsement shall, as regards the payer, be interpreted according to the law of the Colony;
(c) the duties of the holder with respect to presentment for acceptance or payment and the necessity for or sufficiency of a protest or notice of dishonour, or otherwise, are determined by the law of the place where the act is done or the bill is dishonoured;
(d) where a bill is drawn out of but payable in the Colony and the sum payable is not expressed in the currency of the Colony, the amount, if the bill is paid in the Colony and in the currency of the Colony, shall, in the absence of any express stipulation, be calculated according to the rate of exchange for sight drafts in the Colony on the day on which the bill is actually paid; and (Replaced, 18 of 1921, s. 2)
(e) where a bill is drawn in one country and is payable in another, the due date thereof is determined according to the law of the place where it is payable.
PART III.
(Amended, 51 of 1911, and 63 of 1911, Schedule)
CHEQUES ON A BANKER.
73. (1) A cheque is a bill of exchange drawn on a banker payable on demand.
(2) Except as otherwise provided in this Part, the provisions of this Ordinance applicable to a bill of exchange payable on demand apply to a cheque.
74. Subject to the provisions of this Ordinance—
(a) where a cheque is not presented for payment within a reasonable time of its issue, and the drawer or the person on whose account it is drawn had the right, at the time of such presentment, as between him and the banker, to have the cheque paid and suffers actual damage through the delay, he is discharged to the extent of such damage, that is to say, to the extent to which such drawer or person is a creditor of such banker to a larger amount than he would have been had such cheque been paid;
(b) in determining what is a reasonable time, regard shall be had to the nature of the instrument, the usage of trade and of bankers, and the facts of the particular case;
Definition of cheque.
45 & 46 Vict. c. 61, s. 73.
Presentment of cheque for payment. 45 & 46 Vict. c. 61, s. 74.