Section 62: Alteration of bill

62. Alteration of bill (1) (a) Subject to paragraph (b), where a bill or acceptance is materially altered without the assent of all parties liable on the bill, the bill is avoided except as against a party who has himself made, authorised, or assented to the alteration, and subsequent indorsers. (b) Where a bill has been materially altered, but the alteration is not apparent, and the bill is in the hands of a holder in due course, that holder may avail himself of the bill as if it had not been altered, and may enforce payment of it according to its original tenor. B7 – 23 [Issue 1] Bills of Exchange Act (2) In this section, “material alterations” includes any alteration of the date, the sum payable, the time of payment, the place of payment and where a bill has been accepted generally, the addition of a place of payment without the acceptor’s assent.