466
Capacity of parties.
No. 3. THE ORDINANCES OF HONGKONG : A.D. 1885.
tled to the bill that he has accepted it, the acceptance then becomes complete and irrevocable.
(2.) As between immediate parties, and as regards a remote party other than a holder in due course, the delivery-
(a) in order to be effectual, must be made either by or under the authority of the party drawing, accepting, or indorsing, as the case may be;
(b.) may be shown to have been conditional or for a special purpose only, and not for the purpose of transferring the property in the bill:
but if the bill is in the hands of a holder in due course, a valid delivery of the bill by all parties prior to him, so as to make them liable to him, is conclusively presumed.
(3.) Where a bill is no longer in the possession of a party who has signed it as drawer, acceptor, or indorser, a valid and unconditional delivery by him is presumed until the contrary is proved.
Capacity and Authority of Parties.
22.--(1.) Capacity to incur liability as a party to a bill is co-extensive with capacity to contract:
Provided that nothing in this section shall enable a corporation to make itself liable as drawer, acceptor, or indorser of a bill unless it is competent to it to do so under the law for the time being in force relating to corporations.
R. (1891) 1 Q.B. 413
Signature essential to liability.
Forged or unauthorized signature.
(2.) Where a bill is drawn or indorsed by an infant, minor, or corporation having no capacity or power to incur liability on a bill, the drawing or indorsement entitles the holder to receive payment of the bill, and to enforce it against any other party thereto.
23. No person is liable as drawer, indorser, or acceptor of a bill who has not signed it as such: Provided that
(1.) where a person signs a bill in a trade or assumed name, he is liable thereon as if he had signed it in his own name;
(2.) the signature of the name of a firm is equivalent to the signature by the person so signing of the names of all persons liable as partners in that firm.
24. Subject to the provisions of this Ordinance, where a signature on a bill is forged or placed thereon without the authority of the person whose signature it purports to be, the forged or unauthorized signature is wholly inoperative, and no right to retain the bill, or to give a discharge therefor, or to enforce payment thereof against any party thereto can be acquired through or under that signature, unless the party against whom it is sought to retain or enforce payment of the bill is precluded...
A.D. 1885
precluded... Provided unauthorized...
25. A si...
but a limited signature if of his authority...
26. (1.) ...
and ade...
behalf of a...
ally liable describing...
not exempt...
(2.) In d...
cipal or that most favoured...
27.----(1.) (a) and (b) a...
deen...
den (2.) Whe deemed to l...
to the bill v...
(3.) Whe...
contract or...
to the exten...
28. (1.) signed a bill therefor, an...
(2.) An...
value; and knew such...
1
29. (1.)
complete and namely,-
(a.) th...
with...
Was...
¡
¡
466
Capacity of parties.
No. 3. THE ORDINANCES OF HONGKONG : [A.D. 1885.
tled to the bill that he has accepted it, the acceptance then becomes complete and irrevocable.
(2.) As between immediate parties, and as regards a remote party other than a holder in due course, the delivery-
(a) in order to be effectual, must be made either by or under the authority of the party drawing, accepting, or indorsing, as the case may be ;
(6.) may be shown to have been conditional or for a special pur- pose only, and not for the purpose of transferring the property in the bill:
but if the bill is in the hands of a holder in due course, a valid delivery of the bill by all parties prior to him, so as to make them liable to him. is conclusively presumed.
(3.) Where a bill is no longer in the possession of a party who has signed it as drawer, acceptor, or indorser, a valid and unconditional de- livery by him is presumed until the contrary is proved.
Capacity and Authority of Parties.
22.--(1.) Capacity to incur liability as a party to a bill is co-extensive with capacity to contract :
Provided that nothing in this section shall enable a corporation to make itself liable as drawer, acceptor, or indorser of a bill unless it is competent to it to do so under the law for the time being in force relat-
R. (1891) 1 Q.B. 413 ing to corporations.
Signature essential to liability.
Forged or unauthorized signature.
(2.) Where a bill is drawn or indorsed by an infant, minor, or corpo- ration having no capacity or power to incur liability on a bill, the drawing or indorsement entitles the holder to receive payment of the bill, and to enforce it against any other party thereto.
23. No person is liable as drawer, indorser, or acceptor of a bill who has not signed it as such: Provided that
(1.) where a person signs a bill in a trade or assumed name, he is
liable thereon as if he had signed it in his own name;
(2.) the signature of the name of a firm is equivalent to the signature by the person so signing of the names of all persons liable as part- ners in that firm.
24. Subject to the provisions of this Ordinance, where a signature on a bill is forged or placed thereon without the authority of the person whose signature it purports to be, the forged or unauthorized signature is wholly inoperative, and no right to retain the bill, or to give a dis- charge therefor, or to enforce payment thereof against any party thereto can be acquired through or under that signature, unless the party against whom it is sought to retain or enforce payment of the bill is
A.D. 1885
precluded f Provided unauthorize
25. A si
but a limite signature if of his authe
26. (1.
oľ.
and ade
behalf of a
ally liable describing
not exempt
(2.) In d
cipal or tha most favou
27.----(1,
(x,) ar (b.) a
deen
den (2.) Whe deemed to l
to the bill v (3.) Whe
contract or
to the exten
28. (1.) signed a bi therefor, an (2.) An .
value ; and knew such
1
29. (1.)
complete an namely,-
(a.) th
with
Was
¡
¡
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