BILLS OF EXCHANGE . [ 6 of 1883.] 721
No. 9 OF 1885.
An Ordinance entitled The Bills of Exchange Ordinance.
[4th May, 1885.]
PART I.
PRELIMINARY .
1. This ordinance may be cited as the Bills of Exchange Short title.
Ordinance, 1885.
2. In this ordinance, unless the context otherwise requires, - Interpreta-.
tion of terms.
Acceptance ” means an acceptance completed by delivery
or notification .
“ Action " means 66“ suit or action " and includes counter
claim 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 for the time being
in force relating to bankruptcy.
“ Bearer ” means the person in possession of aa bill or note
which is payable to bearer. )
" Bill” means bill of exchange, and " note " means promis
sory note .
“ Delivery " means transfer of possession, actual or con
structive, from one person to another.
“ 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 deliv.
ery.
“ Issue " means the first delivery of a bill or note, complete
in form to a personwho takes it as a holder.
“· Person ” includes a body ofpersons whether incorporated
or not .
" Value " means valuable consideration .
2
" Written ” includes printed, and “ writing " includes print.
PART II.
BILLS OF EXCHANGE.
Form and interpretation.
3. ( 1. ) A bill of exchange is an unconditional order in writ- Bill of
ing, addressed by one person to another,, signed by the person exchange
definea.
giving it, requiring the person to whom it is addressed to pay