Bills of Exchange Act 1681

1681 c. 86

Act concerning Bills of Exchange

Modifications etc. (not altering text)

C1 Short title given by Statute Law Revision (Scotland) Act 1964 (c. 80), Sch. 2

C2 This Act is listed in 12mo edition as 1681 c. 20

OUR Soveraigne Lord Considering how necessary it is for the flourishing of Trade That Bills or Letters of Exchange be duly payed and have ready Execution conform to the custom of other parts Doeth therefore with advice and consent of his Estates of Parliament Statute and Ordain that in case of any forraigne Bill of Exchange from or to this Realm duly protested for not acceptance or for not payment The said Protest having the Bill of Exchange prefixed shall be registrable within Six moneths after the date of the said Bill in case of Non-acceptance or after the falling due thereof in case of non-payment in the books of Councill and Session or other competent Judicatures at the instance of the person to whom the same is made payable or his ordor either against the Drawer or Indorser in case of ane protest for non-acceptance Or against the Accepter in case of a protest for Non-payment to the effect it may have the authoritie of the Judges therof interponed therto That . . . F1 executorials necessary may pass therupon for the whole Sums contained in the Bill as well exchange as principall in form as effeirs Sicklike and in the same manner as upon Registrat Bonds or Decreets of Registration proceiding upon consent of parties Providing always that if the saids Protests be not duly Registrat within Six Moneths in manner above provided Then and in that case The saids Bills and protests are not to have summar execution but only to be pursued by way of Ordinary Action as accords And Farther It is hereby Statute and Enacted that the Sums contained in all Bills of Exchange bear annualrent in case of not acceptance from the date thereof And in case of Acceptance and not payment from the day of their falling due ay and while the payment thereof And Farther His Majesty with advice foresaid hereby declares That notwithstanding of the foresaid summar Execution provided to follow upon Bills of Exchange for the Sums therein contained in manner above specified Yet it shall be leisom to the party charger to pursue for the Exchange if not contained in the saids Bills with re-exchange dammage Interest and all expences before the Ordinary Judge or in cais of Suspension to eek the same to the Charge at the discussing of the said Suspension To the effect that the same may be liquidat and Decreet given therfore either against the party principal or against him and his Cautioners as accords

Textual Amendments

F1 Words repealed by Debtors (Scotland) Act 1987 (c. 18, SIF 45:2), s. 108(2)(3), Sch. 7 paras. 5, 9(1), Sch. 8