1964 Ed.]
Bills of Exchange.
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9
(2) A bill is not invalid by reason only that it is ante-dated or post-dated, or that it bears date on a Sunday or any other general holiday. (Amended, 5 of 1912, s. 8)
14. Where a bill is not payable on demand, the day on which it falls due is determined as follows-
three days, called days of grace, are, in every case where the bill itself does not otherwise provide, added to the time of payment as fixed by the bill, and the bill is due and payable on the last day of grace:
Provided that-
(i) when the last day of grace is a general holiday other than Sunday, Christmas Day or Good Friday, or when the last day of grace and also the second day of grace are general holidays the bill is due and payable on the succeeding business day;
(ii) when the last day of grace falls on a Sunday, Christmas Day or Good Friday which is not immediately preceded by another general holiday the bill is due and payable on the preceding business day; (Amended, 5 of 1912, s. 8)
(b) where a bill is payable at a fixed period after date, after sight, or after the happening of a specified event, the time of payment is determined by excluding the day from which the time is to begin to run and by including the day of payment;
(c) where a bill is payable at a fixed period after sight, the time begins to run from the date of the acceptance if the bill is accepted, and from the date of noting or protest if the bill is noted or protested for non-acceptance or for non-delivery;
(d) the term "month" in a bill means calendar month.
15. The drawer of a bill and any indorser 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. Such person is called the referee in case of need. It is in the option of the holder to resort to the referee in case of need or not, as he may think fit.
16. The drawer of a bill and any indorser may insert therein an express stipulation-
(a) negativing or limiting his own liability to the holder;
(b) waiving, as regards himself, some or all of the holder's duties.
Computation of time of payment.
45 & 46 Vict. c. 61, s. 14.
Referee in case of need.
45 & 46 Vict. c. 61, s. 15.
Optional stipulations by drawer or indorser.
45 & 46 Vict. c. 61, s. 16.
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CAP. 19]
1964 Ed.]
Bills of Exchange.
[CAP. 19
9
(2) A bill is not invalid by reason only that it is ante-dated or post-dated, or that it bears date on a Sunday or any other general holiday. (Amended, 5 of 1912, s. 8)
14. Where a bill is not payable on demand, the day on which it falls due is determined as follows-
three days, called days of grace, are, in every case where the bill itself does not otherwise provide, added to the time of payment as fixed by the bill, and the bill is due and payable on the last day of grace:
Provided that-
(i) when the last day of grace is a general holiday other than Sunday, Christmas Day or Good Friday, or when the last day of grace and also the second day of grace are general holidays the bill is due and payable on the succeeding business day;
(ii) when the last day of grace falls on a Sunday, Christmas Day or Good Friday which is not immediately preceded by another general holiday the bill is due and payable on the preceding business day; (Amended, 5 of 1912, s. 8)
(b) where a bill is payable at a fixed period after date, after sight, or after the happening of a specified event, the time of payment is determined by excluding the day from which the time is to begin to run and by including the day of payment;
(c) where a bill is payable at a fixed period after sight, the time begins to run from the date of the acceptance if the bill is accepted, and from the date of noting or protest if the bill is noted or protested for non-acceptance or for non-delivery;
(d) the term "month" in a bill means calendar month.
15. The drawer of a bill and any indorser 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. Such person is called the referee in case of need. It is in the option of the holder to resort to the referee in case of need or not, as he may think fit.
16. The drawer of a bill and any indorser may insert therein an express stipulation-
(a) negativing or limiting his own liability to the holder; (b) waiving, as regards himself, some or all of the holder's
duties.
Computation of time of payment.
45 & 46 Vict. c. 61, s. 14.
Referee in case of need.
45 & 46 Vict. c. 61, s. 15.
Optional stipulations by drawer or indorser.
45 & 46 Vict. c. 61, 1. 16.
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