the-ordinances-of-the-legislative-counci-1890v4 — Page 40

ORDINANCE No. 9 OF 1885 . 1857


Bills of Eachange.


(2. ) Waiving as regards himself some or all of the holder's duties.

17. ( 1. ) The acceptance of a bill is the signification by the drawee Definition
and requisites
of his assent to the order of the drawer. of acceptance.

( 2. ) An acceptance is invalid unless it complies with the following
conditions , namely :

(a . ) It must be written cu the bill and be signed by the drawee
The mere signature of the drawee without additional
words is sufficient.


(b. ) It must not express that the drawce will perform his pro
mise by any other means than the payment of money.

18. A bill may be accepted . Time for
acceptance.
(1.) Before it has been signed by the drawer, or while otherwise
incomplete :

( 2. ) When it is overdue, or after it has been dishonoured by a pre
vious refusal to accept, or by non - payment :

(3. ) When a bill payable after sight is dishonoured by non- acceptance ,
and the drawee subsequently accepts it , the holder, in the absence of any
different agreement , is entitled to have the bill accepted as of the date of
first presentment to the drawee for acceptance.


19. ( 1. ) An acceptance is either ( a ) general or ( b ) qualified . General and
qualified
acceptances.
( 2. ) A general acceptance assents without qualification to the order

of the drawer. A qualified acceptance in express terms varies the effect
of the bill as drawn.


In particular an acceptance is qualified which is

(a. ) Conditional , that is to say, which makes payment by the
acceptor dependent on the fulfilment of a condition
therein stated :


(b. ) Partial, that is to say, an acceptance to pay part only of
the amount for which the bill is drawn :


(c.) Local, that is to say, an acceptance to pay only at a parti
cular specified place :