the-ordinances-of-the-legislative-counci-1890v4 — Page 42

ORDINANCE No. 9 OF 1885. 1859


Bills of Exchange.


But if the bill be in the hands of a holder in due course a valid de

livery of the bill by all parties prior to him so as to make them liable to
him is conclusively presumed.

( 3. ) Where a bill is no longer in the possession of a party who has
signed it as drawer, acceptor, or indorser, a valid and unconditional de

livery by him is presumed until the contrary is proved .

Capacity and authority ofparties.

22. (1. ) Capacity to incur liability as a party to a bill is co -extensive Capacity of
parties.
with capacity to contract.

Provided that nothing in this section shall enable a corporation to

make itself liable as drawer, acceptor, or indorser of a bill unless it is
competent to it so to do under the law for the time being in force relating
to corporations .

( 2. ) Where a bill is drawn or indorsed by an infant, minor, or
corporation having no capacity or power to incur liability on a bill , the
drawing or indorsement entitles the holder to receive payment of the bill,
and to enforce it against any other party thereto .

23. No person is liable as drawer , indorser, or acceptor of a bill who Signature
essential to
has not signed it as such : Provided that liability.

( 1. ) Where a person signs a bill in a trade or assumed name , he is
liable thereon as if he had signed it in his own name :

( 2. ) The signature of the name of a firm is equivalent to the signature
by the person so signing of the names of all persons liable as partners in
that firm .

24. Subject to the provisions of this Ordinance , where a signature Forged or
unauthorised
on a bill is forged or placed thereon without the authority of the person signature.
whose signature it purports to be, the forged or unauthorised signature'
is wholly inoperative, and no right to retain the bill or to give a discharge
therefor or to enforce payment thereof against any party thereto can be
acquired through or under that signature, unless the party against whom
it is sought to retain or enforce payment of the bill is precluded from
setting up the forgery or want of authority.

Provided that nothing in this section shall affect the ratification of
an unauthorised signature not amounting to a forgery.