1901_BILLS_OF_EXCHANGE_ORDINANCE__1885 — Page 1

460

G. t. 711/04

A.D. 1885.

*** of

Ordinance No. 9 of 1885. 45 § 40 Vict.

61.

Short title.

Interpreta
tion of terms.

See Ordinanco
No. 7 of 1891.

No. 2.] THE ORDINANCES OF HONGKONG: [A.D. 1885.

Length.

1 Chek (foot) equal to 14.8 English inches, divided into 10 Tsün or inches, and each inch into 10 Fan or tenths,

The contents of each measure to be not heaped, but flat and level with the rim of the vessel.

Measures of length, if made of wood or bamboo, shall (except yard measures imported from the United Kingdom) be tipped at the ends with metal, to the satisfaction of the examiner of weights and measures, or, in case of doubt, of a Police Magistrate, whose decision shall be final.

ORDINANCE No. 3 OF 1885.

AN ORDINANCE to codify the Law relating to Bills of Exchange,
Cheques, and Promissory Notes.

[4th May, 1885.]

BE it enacted by the Governor of Hongkong, with the advice of the
Legislative Council thereof, as follows:--

Preliminary Provisions.

1. This Ordinance may be cited as the Bills of Exchange Ordinance, 1885.

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2. In this Ordinance, unless the context otherwise requires,----

"Acceptance" means an acceptance completed by delivery or notification:

"Action" means action or suit and includes counterclaim 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 a bill or note which is payable to bearer:

"Bill" means bill of exchange, and "note" means promissory note:

...

3.-(1.) A bill of exchange is an unconditional order in writing, addressed to a person requiring him to pay 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 conditions, or which orders any act to be done in addition to the payment of money, is not a bill of exchange.

(3.) An unconditional promise in writing made by one person to another signed by the maker, engaging to pay 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 is a promissory note.

(4.) A bill or note is not invalid by reason only that it is not dated, or that it does not specify the value given, or that any value has been given therefor.

4.-(1.) A bill is payable to order if it is expressed to be so payable, or if it is payable to a particular person.

(2.) Any other bill is payable to bearer.

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"Delivery" means transfer of possession, actual or constructive, 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 delivery: "Issue" means the first delivery of a bill or note, complete in form,

(3.) Unless otherwise agreed, the holder of a bill may treat it as payable on demand.

5.-(1.) The drawer or any indorser of a bill may insert therein the name of a person to whom the holder may resort in case of need, that is to say, in case the bill is dishonoured by non-acceptance or non-payment.

(2.) When the holder of a bill, having inserted therein the name of a person to whom he may resort in case of need, presents the bill for acceptance or payment to such person, he is entitled to treat the bill as dishonoured by non-acceptance or non-payment.