the-ordinances-of-the-legislative-counci-1890v2 — Page 160

750 [ 9 or 1885. ] BILLS OF EXCHANGE .


than to a banker or to the banker to whom the cheque is or
was crossed, or to his agent for collection being a banker, as
the case may be.
Protection to 80. Where the banker, on whom a crossed cheque is drawn,
banker and
drawer where
cheque is
in good faith and without negligence pays it, if crossed generally,
crossed.
to a banker, and if crossed specially, to the banker to whom it
is crossed, or his agent for collection being a banker, the banker
paying the cheque, and, if the cheque has come into the hands
of the payee, the drawer, shall respectively be entitled to the
same rights and be placed in the same position as if payment of
the cheque had been made to the true owner thereof.
Effect of
crossing on 81. Where a person takes aa crossed cheque which bears on
holler. it the words “ not negotiable," he shall not have and shall not
be capable of giving a better title to the cheque than that which
the person from whom he took it had.
Protection to
collecting 82. Where a banker in good faith and without negligence
banker. receives payment for a customer of a cheque crossed generally
or specially to himself, and the customer has no title or a
defective title thereto, the banker shall not incur any liability
to the true owner
received
of the cheque by reason only of having
payment
such .



PART IV .
PROMISSORY NOTES .
I'romissory
note defined . 83. ( 1.) A promissory note is 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.
( 2. ) An instrument in the form of a note payable to maker's
order is not a note within the meaning of this section unless
and until it is indorsed by the maker.
( 3. ) A note is not invalid by reason only that it contains
also a pledge of collateral security with authority to sell or
dispose thereof.
(4.) A note which is , or on the face of it purports to be, both
made and payable within this Colony is an inland note . Any
other note is a foreign note.
Delivery 84. A promissory note is inchoate and incomplete until
necessary .
delivery thereof to the payce or bearer.