Section 57: Transferor by delivery and transferee
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.
57. Transferor by delivery and transferee
(1) Where the holder of a bill payable to bearer negotiates it by delivery
without indorsing it, he is called a “transferor by delivery”.
(2) A transferor by delivery is not liable on the instrument.
(3) A transferor by delivery who negotiates a bill thereby warrants to his
immediate transferee being a holder for value that the bill is what it purports
to be, that he has a right to transfer it, and that at the time of transfer he is
not aware of any fact which renders it valueless.