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Bills of Exchange Act 1882

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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Point in time view as at 16/04/1991.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. Help about Changes to Legislation

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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