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Section 3: Bills of exchange

Bills Of Exchange Act · PART I: BILLS OF EXCHANGE

consolidated text (as at 2011, amended since). juris shows the text as it was consolidated; it does not confirm that this is the law in force today.

3. Bills of exchange (1) A bill of exchange is an unconditional order in writing, addressed by one person to another, dated and signed by the person giving it, requiring the person to whom it is addressed 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 which does not comply with these conditions, or which orders any act to be done in addition to the payment of money, is not a bill. (3) An order to pay out of a particular fund is not unconditional within the meaning of this section, but an unqualified order to pay coupled with— (a) an indication of a particular fund out of which the drawee is to reimburse himself or a particular account to be debited with the amount; or (b) a statement of the transaction which gives rise to the bill, is unconditional. (4) A bill is not invalid if it does not specify— (a) the value given, or that any value has been given for it; (b) the place where it is drawn or the place where it is payable.

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