Bills of Exchange.
(5) Where a bill, either originally or by indorsement, is expressed to be payable to the order of a specified person, and not to him or his order, it is nevertheless payable to him or his order at his option.
[CAP. 19
9. (1) The sum payable by a bill is a sum certain within the meaning of this Ordinance, although it is required to be paid-
(a) with interest;
(b) by stated instalments;
(c) by stated instalments, with a provision that, upon default in payment of any instalment, the whole shall become due;
(d) according to an indicated rate of exchange or according to a rate of exchange to be ascertained as directed by the bill.
(2) Where the sum payable is expressed in words and also in figures, and there is a discrepancy between the two, the sum denoted by the words is the amount payable.
(3) Where a bill is expressed to be payable with interest, unless the instrument otherwise provides, interest runs from the date of the bill, and, if the bill is undated, from the issue thereof.
10. (1) A bill is payable on demand-
(a) which is expressed to be payable on demand, or at sight, or on presentation; or
(b) in which no time for payment is expressed.
(2) Where a bill is accepted or indorsed when it is overdue, it shall, as regards the acceptor who so accepts or any indorser who so indorses it, be deemed a bill payable on demand.
Bill payable on demand.
at future
11. (1) A bill is payable at a determinable future time within the meaning of this Ordinance which is expressed to be payable—
(a) at a fixed period after date or sight;
(b) 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.
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Bills of Exchange.
(5) Where a bill, either originally or by indorsement, is expressed to be payable to the order of a specified person, and not to him or his order, it is nevertheless payable to him or his order at his option.
[CAP. 19
9. (1) The sum payable by a bill is a sum certain Sum payable. within the meaning of this Ordinance, although it is
required to be paid-
(a) with interest;
(b) by stated instalments;
(c) by stated instalments, with a provision that, upon default in payment of any instalment, the whole shall become due;
(d) according to an indicated rate of exchange or according to a rate of exchange to be ascertained as directed by the bill.
(2) Where the sum payable is expressed in words and also in figures, and there is a discrepancy between the two, the sum denoted by the words is the amount payable.
(3) Where a bill is expressed to be payable with interest, unless the instrument otherwise provides, interest runs from the date of the bill, and, if the bill is undated, from the issue thereof.
10. (1) A bill is payable on demand-
(a) which is expressed to be payable on demand, or
at sight, or on presentation; or
(b) in which no time for payment is expressed.
(2) Where a bill is accepted or indorsed when it is overdue, it shall, as regards the acceptor who so accepts or any indorser who so indorses it, be deemed a bill pay- able on demand.
Bill payable
on
demand.
at future
11. (1) A bill is payable at a determinable future time Bill payable within the meaning of this Ordinance which is expressed time. to be payable—
(a) at a fixed period after date or sight;
(b) 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.
359
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