722 [ 9 of 1885. ] BILLS OF EXCHANGE .
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 which does not comply with these condi
tions, or which orders any act to be done in addition to the
payment of money, is not a bill of exchange.
(3. ) An order to pay out of a particular fund is not uncondi
tional within the meaning of this section ; but an unqualified
order to pay, coupled with ( a ) an indication of a particular fund
out of which the drawee is to re - imburse himself or a particular
account to be debited with the amount, or ( b ) a statement of
the transaction which gives rise to the bill, is unconditional.
( 4. ) A bill is not invalid by reason
( a . ) That it is not dated ;
( 6. ) That it does not specify the value given, or that any
value has been given therefor ;
( c.) That it does not specify the place where it is drawn
or the place where it is payable.
Inland and
foreign bills,
4. ( 1. ) An inland bill is a bill which is or on the face of it
purports to be ( a ) both drawn and payable within this Colony,
or () drawn within this Colony, upon some person resident
therein. Any other bill is a foreign bill.
( 2. ) Unless the contrary appear on the face of the bill the
holder may treat it as an inland bill .
Effect where 5. ( 1. ) A bill may be drawn payable to, or to the order of,
different
parties to
bill are the
the drawer ; or it may be drawn payable to, or to the order of,
the drawee .
same person .
( 2. ) Where in a bill , drawer and drawee are the saine person,
or where the drawee is a fictitious person or a person not having
capacity to contract , the holder may treat the instrument, at
his option, either as a bill of exchange or as a promissory note.
Address to
drawee.
6. ( 1. ) The drawee must be named or otherwise indicated
in a bill with reasonable certainty.
( 2. ) A bill may be addressed to two or more drawees whether
they are partners or not, but an order addressed to two drawees
in the alternative or to two or more drawees in succession is
not a bill of exchange.
Certainty 7. ( 1. ) Where a bill is not payable to bearer, thepayee must
required as be named or otherwise indicated therein with reasonable certainty.
to payee .
( 2. ) A bill may be made payable to two or more payees
jointly, or it may be made payable in the alternative to one of
two, or one or some of several payees. A bill may also be made
payable to the holder of an office for the time being.