Section 69: Rules as to sets

69. Rules as to sets (1) Where a bill is drawn in a set, each part of the set being numbered, and containing a reference to the other parts, the whole of the parts shall constitute one bill. (2) Where the holder of a set indorses 2 or more parts to different persons, he is liable on every such part and every indorser subsequent to him is liable on the part he has himself indorsed as if the parts were separate bills. (3) (a) The acceptance may be written on any part, and it shall be written on one part only. (b) Where the drawee accepts more than one part, and such accepted parts get into the hands of different holders in due course, he is liable on every such part as if it were a separate bill. (4) Where the acceptor of a bill drawn in a set pays it without requiring the part bearing his acceptance to be delivered up to him, and that part at maturity is outstanding in the hands of a holder in due course, he shall be liable to the holder. (5) Subject to subsections (1) to (4), where any one part of a bill drawn in a set is discharged by payment or otherwise the whole bill is discharged.