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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Point in time view as at 16/04/1991.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
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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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