Section 52: Funds in hands of acceptor
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.
52. Funds in hands of acceptor
Where the acceptor of a bill has in his hands funds available for its payment, the bill operates as an assignment of the sum for which it is drawn in
favour of the holder from the time when the bill is presented to the acceptor.