721 [ 9 of 1885. ] BILLS OF EXCHANGE ,
Bill payable 11. A bill is payable at a determinable future time within the
at a future
time. meaning of this ordinance which is expressed to be payable
( 1. ) At a fixed period after date or sight.
( 2. ) 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 .
An instrument expressed to be payable on a contingency is
not a bill , and the happening of the event does not cure the
defect.
Omission of
bill 12. Where a bill expressed to be payable at a fixed period
jayableafter
date,
after date is issued undated, or where the acceptance of a bill
payable at a fixed period after sightis undated, any holder may
insert therein the true date of issue or acceptance, and the bill
shall be payable accordingly.
Provided that ( 1 ) where the holder in good faith and by
mistake inserts a wrong date, and ( 2 ) 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.
Ante- lating
and post
13. ( 1. ) Where a bill or an acceptance or any indorsement
dating. on a bill is dated , the date shall, unless the contrary be proved ,
be deemed to be the true date of the drawing, acceptance, or
indorsement, as the case may be.
( 2. ) A bill is not invalid by reason only that it is ante -dated
or post-dated, or that it bears date on a Sunday.
Computation 14. Where a bill is not payable on demand the day on which
of time of
payment.
it falls due is determined as follows:
( 1. ) Three days, called days of grace, are, in every case where
the bill itself does not otherwise provide, added to the time of
payment as fixed by the bill , and the bill is due and payable on
the last day of grace: provided that --
( a .) When the last day of grace falls on Sunday, Christmas
Day,Good Friday, or a day appointed by proclama
tion in the Gazette as a public fast or thanksgiving
day, the bill is, except in the case herein -after
provided for, due and payable on the preceding
business day ;
( 6. ) When the last day of grace is a bank holiday ( other
than Christmas Day or Good Friday ) or when the
last day of grace is a Sunday and the second day
of grace is aa bank holiday, the bill is due and payable
on the succeeding business day.