the-ordinances-of-the-legislative-counci-1890v4 — Page 39

1856 ORDINANCE No. 9 OF 1885 .


Bills ofExchange.


Computation 14. Where a bill is not payable on demand the day on which it
of time of
―――――
falls due is determined as follows :
payment.

( 1. ) 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


(a. ) When the last day of grace falls on Sunday, Christmas
Day, Good Friday, or a day appointed by proclamation
in the Gazette as a public fast or thanksgiving day, the
bill is , except in the case herein -after provided for, due
and payable on the preceding business day ;

(b. ) When the last day of grace is a bank holiday (other than
Christmas Day or Good Friday ) or when the last day of
grace is a Sunday and the second day of grace is a bank
holiday, the bill is due and payable on the succeeding
business day .


(2. ) 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 deter
mined by excluding the day from which the time is to begin to run and
by including the day of payment.

(3. ) 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 be accepted , and
from the date of noting or protest if the bill be noted or protested for
non-acceptance, or for non-delivery.

(4. ) The term " month " in a bill means calendar month.

Case of need. 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.


Optional 16. The drawer of a bill , and any indorser, may insert therein an
stipulations
by drawer or express stipulation
indorser.
(1. ) Negativing or limiting his own liability to the holder ;