Search Legislation

Bills of Exchange Act 1882

 Help about what version

What Version

 Help about advanced features

Advanced Features

 Help about opening options

Opening OptionsExpand opening options

Changes over time for: Section 3

 Help about opening options

Alternative versions:

Status:

Point in time view as at 26/03/2015.

Changes to legislation:

There are currently no known outstanding effects for the Bills of Exchange Act 1882, Section 3. Help about Changes to Legislation

3 Bill of exchange defined. U.K.

(1)A bill of exchange is an unconditional order in writing, addressed by one person to another, signed by the person giving it, requiring the person to whom it is addressed to pay on demand or at a fixed or determinable future time a sum certain in money to or to the order of a specified person, or to bearer.

(2)An instrument which does not comply with these conditions, or which orders any act to be done in addition to the payment of money, is not a bill of exchange.

(3)An order to pay out a particular fund is not unconditional within the meaning of this section; but an unqualified order to pay, coupled with (a) an indication of a particular fund out of which the drawee is to re-imburse himself or a particular account to be debited with the amount, or (b) a statement of the transaction which gives rise to the bill, is unconditional.

(4)A bill is not invalid by reason—

(a)That it is not dated;

(b)That it does not specify the value given, or that any value has been given therefor;

(c)That it does not specify the place where it is drawn or the place where it is payable.

Modifications etc. (not altering text)

Back to top

Options/Help