Bills of Exchange Act 1882

Part IU.K. Preliminary

1 Short title.U.K.

This Act may be cited as the Bills of Exchange Act 1882.

2 Interpretation of terms. U.K.

In this Act, unless the context otherwise requires,—

  • “Acceptance” means an acceptance completed by delivery or notification.

  • “Action” includes counter claim and set off.

  • “Banker” includes a body of persons whether incorporated or not who carry on the business of banking.

  • “Bankrupt” includes any person whose estate is vested in a trustee or assignee under the law for the time being in force relating to bankruptcy.

  • “Bearer” means the person in possession of a bill or note which is payable to bearer.

  • “Bill” means bill of exchange, and “note” means promissory note.

  • “Delivery” means transfer of possession, actual or constructive, from one person to another.

  • “Holder” means the payee or indorsee of a bill or note who is in possession of it, or the bearer thereof.

  • “Indorsement” means an indorsement completed by delivery.

  • “Issue” means the first delivery of a bill or note, complete in form to a person who takes it as a holder.

  • “Person” includes a body of persons whether incorporated or not.

[F1“postal operator” has the meaning given by [F2section 27 of the Postal Services Act 2011].]

  • “Value” means valuable consideration.

  • “Written” includes printed, and “writing” includes print.

Textual Amendments

F1S. 2: Definition of “postal operator” inserted (26.3.2001) by S.I. 2001/1149, art. 3(1), Sch. 1 para. 4(2)

Modifications etc. (not altering text)