1 BILLS OF EXCHANGE-FORM AND INTERPRETATION. Bills of Exchange defined-Notes and illustrations Inland and foreign bills distinguished .. Bill presumed to be inland unless the contrary appear.. If different parties to bill are the same person Certainty required as to payee-Fictitious payee Sum payable—interest-instalments-exchange.. NEGOTIATION OF BILLS- Date presumed to be correct-antedating-postdating .. Computation of time of payment-days of grace-holidays Payable at or after sight-at a month or months Referee in case of need-resort to him optional Liabilities may be negatived or limited, or duties waived Time for acceptance-before completion-if overdue General and qualified acceptances Examples of qualified acceptances Inchoate instruments-signature on blank paper THE CONSIDERATION FOR A BILL- .. Signature essential to liability Assumed name-firm signature .. Forged or unauthorized signature Payment of cheque on forged indorsement Procuration signatures-when principal bound Valuable consideration-antecedent debt Accommodation party to a bill.. Holder in due course defined.. Presumption of value and good faith-proof Bill for "patent right" Conditional indorsements not binding Rights of holder-action on bill-holder in due course When presentment for acceptance is necessary Presentment of bill payable at or after sight. Drawee allowed two days to decide as to acceptance LIABILITIES OF PARTIES- Holder's recourse against drawer and indorsers Qualified acceptance--holder may refuse If taken, assent of drawer and indorser necessary Presentment for payment-effect of not presenting Rules as to presentment-time-person Excuse for delay in presentment Presentment for payment dispensed with Notice of dishonor and effect of non-notice Rules as to notice of dishonor Delay in notice of dishonor excused Notice of dishonor dispensed with Noting or protest of inland bill-necessary in Quebec Liability of acceptor as to presentment .. Bill not an assignment of funds.. Liability of acceptor-estoppel Liability of drawer-estoppel Discharge by "payment in due course Prescription or Statute of Limitations Erroneous cancellation not a discharge Cheque defined-Provisions as to demand bill apply Presentment of cheque for payment |
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