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Bills of Exchange Act 1882

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Changes over time for: Section 5

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Point in time view as at 16/04/1991.

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There are currently no known outstanding effects for the Bills of Exchange Act 1882, Section 5. Help about Changes to Legislation

5 Effect where different parties to bill are the same person.U.K.

(1)A bill may be drawn payable to, or to the order of, the drawer; or it may be drawn payable to, or to the order of, the drawee.

(2)Where in a bill drawer and drawee are the same person, or where the drawee is a fictitious person or a person not having capacity to contract, the holder may treat the instrument, at his option, either as a bill of exchange or as a promissory note.

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