62
No. 1 of 1863.
ADMIRALTY (VESTING OF PROPERTY).
by way of surrender to His Majesty), any property reserved or granted by the Governor for naval or public purposes and held or accepted by the said Commissioners or Lord High Admiral under any grant, lease, licence, or appropriation made by the Governor in that behalf.
1864.
[Originally No. 13 of 1864.
Law Rev. Ord., 1924.]
*
Short title.
*
Consideration for guarantee need not appear by writing. 19 & 20 Vict. c. 97, s. 3.
Right of surety who discharges liability to assignment of all securities held by creditor. 19 & 20 Vict. c. 97, s. 5.
No. 1 of 1864.
An Ordinance to amend the laws of trade and commerce. [13th Sept., 1864.]
1. This Ordinance may be cited as the Mercantile Law Amendment Ordinance, 1864.
2. No special promise made by any person to answer for the debt, default, or miscarriage of another person, being in writing and signed by the party charged therewith or some other person by him thereunto lawfully authorised, shall be deemed invalid to support an action, suit, or other proceeding to charge the person by whom such promise has been made, by reason only that the consideration for such promise does not appear in writing or by necessary inference from a written document.
3. Every person who, being surety for the debt or duty of another or being liable with another for any debt or duty, pays such debt or performs such duty shall be entitled to have assigned to him, or to a trustee for him, every judgment, specialty, or other security which is held by the creditor in respect of such debt or duty, whether such judgment, specialty or other security is or is not deemed at law to have been satisfied by the payment of the debt or performance of the duty, and such person shall be entitled to stand in the place of the creditor, and to use all the remedies, and, if need be and upon a proper indemnity, to use the name, of the creditor in any action or other proceeding.
* As amended by Law Rev. Ord., 1923,
62
No. 1 of 1863.
ADMIRALTY (VESTING OF
PROPERTY).
by way of surrender to His Majesty), any property reserved or granted by the Governor for naval or public purposes and held or accepted by the said Commissioners or Lord High Admiral under any grant, lease, licence, or appropriation made by the Governor in that behalf.
1864.
[Originally No. 13 of 1864.
Law Rev. Ord., 1924.]
*
Short title.
*
Considera- tion for guarantee need not appear by writing. 19 & 20
Vict. c. 97, s. 3.
Right of
surety who discharges liability to
assignment, tics held by
of all securi-
creditor. 19 & 20
Vict. c. 97, s. 5.
No. 1 of 1864.
An Ordinance to amend the laws of trade and commerce. [13th Sept., 1864.]
1. This Ordinance may be cited as the Mercantile Law Amendment Ordinance, 1864.
2. No special promise made by any person to answer for the debt, default, or miscarriage of another person, being in writing and signed by the party charged therewith or some other person by him thereunto lawfully authorised, shall be deemed invalid to support an action, suit, or other proceed- ing to charge the person by whom such promise has been made, by reason only that the consideration for such promise does not appear in writing or by necessary inference from a written document.
3. Every person who, being surety for the debt or duty of another or being liable with another for any debt or duty, pays such debt or performs such duty shall be entitled to have assigned to him, or to a trustee for him, every judg- ment, specialty, or other security which is held by the creditor in respect of such debt or duty, whether such judgment, specialty or other security is or is not deemed at law to have been satisfied by the payment of the debt or performance of the duty, and such person shall be entitled to stand in the place of the creditor, and to use all the remedies, and, if need be and upon a proper indemnity, to use the name, of the creditor in any action or other pro-
* As amended by Law Rev. Ord., 1923,
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