the-ordinances-of-the-legislative-counci-1890v4 — Page 38

ORDINANCE No. 9 OF 1885 . 1855


Bills of Exchange.


(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 Bill 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.

11. A bill is payable at a determinable future time within the mean Bill payable
at a future
ing of this Ordinance which is expressed to be payable time.


( 1. ) At a fixed period after date or sight.

(2. ) 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 .

An instrument expressed to be payable on a contingency is not a
bill , and the happening of the event does not cure the defect.

12. Where a bill expressed to be payable at a fixed period after Omission of
date in bill
date is issued undated, or where the acceptance of a bill payable at a payable after
date.
fixed period after sight is undated , any holder may insert therein the
true date of issue or acceptance, and the bill shall be payable accordingly.

Provided that ( 1 ) where the holder in good faith and by mistake
inserts a wrong date, and ( 2 ) in every case where a wrong date is inserted,
if the bill subsequently comes into the hands of a holder in due course
the bill shall not be avoided thereby, but shall operate and be payable as
if the date so inserted had been the true date.


13. ( 1. ) Where a bill or an acceptance or any indorsement on a Ante-dating
and post
bill is dated , the date shall, unless the contrary be proved , be deemed dating.
to be the true date of the drawing, acceptance, or indorsement, as the
case may be.

(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.