422
THE HONGKONG GOVERNMENT GAZETTE, 9TH MAY, 1885.
Holder's right to duplicate of lost bill.
Action on lost bill.
Rules as to sets.
Rules where laws conflict.
Lost Instruments.
69. Where a bill has been lost before it is overdue, the person who was the holder of it may apply to the drawer to give him another bill of the same tenour, giving security to the drawer if required to indemnify him against all persons whatever in case the bill alleged to have been lost shall be found again.
If the drawer on request as aforesaid refuses to give such duplicate bill, he may be compelled to do so.
70. In any action or proceeding upon a bill, the court or a judge may order that the loss of the instrument shall not be set up, provided an indemnity be given to the satisfaction of the court or judge against the claims of any other person upon the instrument in question.
Bill in a Set.
71. (1.) Where a bill is drawn in a set, each part of the set being numbered, and containing a reference to the other parts, the whole of the parts constitute one bill.
(2.) Where the holder of a set indorses two or more parts to different persons, he is liable on every such part, and every indorser subsequent to him is liable on the part he has himself indorsed as if the said parts were separate bills.
(3.) Where two or more parts of a set are negotiated to different holders in due course, the holder whose title first accrues is as between such holders deemed the true owner of the bill; but nothing in this sub-section shall affect the rights of a person who in due course accepts or pays the part first presented to him.
(4.) The acceptance may be written on any part, and it must be written on one part only.
If the drawee accepts more than one part and such accepted parts get into the hands of different holders in due course, he is liable on every such part as if it were a separate bill.
(5.) When the acceptor of a bill drawn in a set pays it without requiring the part bearing his acceptance to be delivered up to him, and that part at maturity is outstanding in the hands of a holder in due course, he is liable to the holder thereof.
(6.) Subject to the preceding rules, where any one part of a bill drawn in a set is discharged by payment or otherwise, the whole bill is discharged.
Conflict of Laws.
72. Where a bill drawn in one country is negotiated, accepted, or payable in another, the rights, duties, and liabilities of the parties thereto are determined as follows:
(1.) The validity of a bill as regards requisites in form is determined by the law of the place of issue, and the validity as regards requisites in form of the supervening contracts, such as acceptance, or indorsement, or acceptance suprà protest, is determined by the law of the place where such contract was made.
Provided that-
(a.) Where a bill is issued out of this Colony it is not invalid by reason only that it is not stamped in accordance with the law of the place of issue:
(b.) Where a bill, issued out of this Colony, conforms, as regards requisites in form, to the law of this Colony, it may, for the purpose of enforcing payment thereof, be treated as valid as between all persons who negotiate, hold, or become parties to it in this Colony.
(2.) 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 this Colony.
(3.) 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.
422
THE HONGKONG GOVERNMENT GAZETTE, 9TH MAY, 1885.
Holder's right to duplicate of Jost hill.
Action on lost. bill.
Rules as to sets.
Rules where laws conflict.
Lost Instruments.
69. Where a hill has been lost before it is overdue, the person who was the holder of it may apply to the drawer to give him another bill of the same tenour, giving security to the drawer if required to indemnify him against all per- sons whatever in case the bill alleged to have been lost shall be found again.
If the drawer on request as aforesaid refuses to give such duplicate bill, he may be compelled to do so.
770. In any action or proceeding upon a bill, the court or a judge may order that the loss of the instrument shall not be set up, provided an indemnity be given to the satis- faction of the court or judge against the claims of any other person upon the instrument in question.
Bill in a Set.
71. (1.) Where a bill is drawn in a set, each part of the set being numbered, and containing a reference to the other parts, the whole of the parts constitute one bill.
(2.) Where the holder of a set indorses two or more parts to different persons, he is liable on every such part, and every indorser subsequent to him is liable on the part, he has himself indorsed as if the said parts were separate bills.
(3.) Where two or more parts of a set are negotiated to different holders in due course, the holder whose title first accrues is as between such holders deemed the true owner of the bill; but nothing in this sub-section shall affect the rights of a person who in due course accepts or pays the part first presented to him.
(4.) The acceptance may be written on any part, and it must be written on one part only.
If the drawee accepts more than one part and such accepted parts get into the hands of different holders in due course, he is liable on every such part as if it were a separate bill.
(5.) When the acceptor of a bill drawn in a set pays it without requiring the part bearing his acceptance to be delivered up to him, and that part at maturity is outstanding in the hands of a holder in due course, he is liable to the holder thereof.
(6.) Subject to the preceding rules, where any one part of a bill drawn in a set is discharged by payment or other- wise, the whole bill is discharged.
Conflict of Laws.
72. Where a bill drawn in one country is negotiated, accepted, or payable in another, the rights, duties, and liabilities of the parties thereto are determined as follows:
(1.) The validity of a bill as regards requisites in form is determined by the law of the place of issue, and the validity as regards requisites in form of the supervening contracts, such as acceptance, or indorsement, or acceptance suprà protest, is determined by the law of the place where such contract was made.
Provided that-
(a.) Where a bill is issued out of this Colony it is not invalid by reason only that it is not stamped in accordance with the law of the place of issue:
(6.) Where a bill, issued out of this Colony, conforms, as regards requisites in form, to the law of this Colony, it may, for the purpose of en- forcing payment thereof, be treated as valid as between all persons who negotiate, hold, or become parties to it in this Colony. (2.) Subject to the provisions of this Ordinance, the in- terpretation 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 in- terpreted according to the law of this Colony.
(3.) The duties of the holder with respect to presentment for acceptance or payment and the necessity for or s sufficiency of a protest or notice of dishonour, or otherwise, are determi- ned by the law of the place where the act is done or the bill is dishonoured.
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