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Changes over time for: Section 54
Timeline of Changes
This timeline shows the different points in time where a change occurred. The dates will coincide with the earliest date on which the change (e.g an insertion, a repeal or a substitution) that was applied came into force. The first date in the timeline will usually be the earliest date when the provision came into force. In some cases the first date is 01/02/1991 (or for Northern Ireland legislation 01/01/2006). This date is our basedate. No versions before this date are available. For further information see the Editorial Practice Guide and Glossary under Help.
Status:
Point in time view as at 16/04/1991.
Changes to legislation:
There are currently no known outstanding effects for the Bills of Exchange Act 1882, Section 54.
Changes to Legislation
Revised legislation carried on this site may not be fully up to date. At the current time any known changes or effects made by subsequent legislation have been applied to the text of the legislation you are viewing by the editorial team. Please see ‘Frequently Asked Questions’ for details regarding the timescales for which new effects are identified and recorded on this site.
54 Liability of acceptor.U.K.
The acceptor of a bill, by accepting it—
(1)Engages that he will pay it according to the tenor of his acceptance:
(2)Is precluded from denying to a holder in due course:
(a)The existence of the drawer, the genuineness of his signature, and his capacity and authority to draw the bill;
(b)In the case of a bill payable to drawer’s order, the then capacity of the drawer to indorse, but not the genuineness or validity of his indorsement;
(c)In the case of a bill payable to the order of a third person, the existence of the payee and his then capacity to indorse, but not the genuineness or validity of his indorsement.
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