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Revised Statute from The UK Statute Law Database

Bills of Exchange Act 1882 (c. 61)

This version of this statute is extracted from the UK Statute Law Database (SLD). It is not necessarily in the form in which it was originally enacted but is a revised version, which means that any subsequent amendments to the text and other effects are incorporated with annotations.

There are effects on this legislation that have not yet been applied to SLD for the following years: 2007 and 2009. See the Tables of Legislative effects and the Update status of legislation page on the SLD website.

Royal arms

Bills of Exchange Act 1882

1882 CHAPTER 61 45_and_46_Vict

Contents

Go to Preamble

  1. Part I

    Preliminary

    1. 1. Short title

    2. 2. Interpretation of terms

  2. Part II

    Bills of Exchange

    1. Form and Interpretation

      1. 3. Bill of exchange defined

      2. 4. Inland and foreign bills

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

      4. 6. Address to drawee

      5. 7. Certainty required as to payee

      6. 8. What bills are negotiable

      7. 9. Sum payable

      8. 10. Bill payable on demand

      9. 11. Bill payable at a future time

      10. 12. Omission of date in bill payable after date

      11. 13. Ante-dating and post-dating

      12. 14. Computation of time of payment

      13. 15. Case of need

      14. 16. Optional stipulations by drawer or indorser

      15. 17. Definition and requisites of acceptance

      16. 18. Time for acceptance

      17. 19. General and qualified acceptances

      18. 20. Inchoate instruments

      19. 21. Delivery

    2. Capacity and Authority of Parties

      1. 22. Capacity of parties

      2. 23. Signature essential to liability

      3. 24. Forged or unauthorised signature

      4. 25. Procuration signatures

      5. 26. Person signing as agent or in representative capacity

    3. The Consideration for a Bill

      1. 27. Value and holder for value

      2. 28. Accommodation bill or party

      3. 29. Holder in due course

      4. 30. Presumption of value and good faith

    4. Negotiation of Bills

      1. 31. Negotiation of bill

      2. 32. Requisites of a valid indorsement

      3. 33. Conditional indorsement

      4. 34. Indorsement in blank and special indorsement

      5. 35. Restrictive indorsement

      6. 36. Negotiation of overdue or dishonoured bill

      7. 37. Negotiation of bill to party already liable thereon

      8. 38. Rights of the holder

    5. General Duties of the Holder

      1. 39. When presentment for acceptance is necessary

      2. 40. Time for presenting bill payable after sight

      3. 41. Rules as to presentment for acceptance, and excuses for non-presentment

      4. 42. Non-acceptance

      5. 43. Dishonour by non-acceptance and its consequences

      6. 44. Duties as to qualified acceptances

      7. 45. Rules as to presentment for payment

      8. 46. Excuses for delay or non-presentment for payment

      9. 47. Dishonour by non-payment

      10. 48. Notice of dishonour and effect of non-notice

      11. 49. Rules as to notice of dishonour

      12. 50. Excuses for non-notice and delay

      13. 51. Noting or protest of bill

      14. 52. Duties of holder as regards drawee or acceptor

    6. Liabilities of Parties

      1. 53. Funds in hands of drawee

      2. 54. Liability of acceptor

      3. 55. Liability of drawer or indorser

      4. 56. Stranger signing bill liable as indorser

      5. 57. Measure of damages against parties to dishonoured bill

      6. 58. Transferor by delivery and transferee

    7. Discharge of Bill

      1. 59. Payment in due course

      2. 60. Banker paying demand draft whereon indorsement is forged

      3. 61. Acceptor the holder at maturity

      4. 62. Express waiver

      5. 63. Cancellation

      6. 64. Alteration of bill

    8. Acceptance and Payment for Honour

      1. 65. Acceptance for honour supra protest

      2. 66. Liability of acceptor for honour

      3. 67. Presentment to acceptor for honour

      4. 68. Payment for honour supra protest

    9. Lost Instruments

      1. 69. Holder’s right to duplicate of lost bill

      2. 70. Action on lost bill

    10. Bill in a Set

      1. 71. Rules as to sets

    11. Conflict of Laws

      1. 72. Rules where laws conflict

  3. Part III

    Cheques on a Banker

    1. 73. Cheque defined

    2. 74. Presentment of cheque for payment

    3. 74A. Presentment of cheque for payment: alternative place of presentment

    4. 74B. Presentment of cheque for payment: alternative means of presentment by banker

    5. 74C.Cheques presented for payment under section 74B: disapplication of section 52(4)

    6. 75. Revocation of banker’s authority

    7. 75A.

    8. Crossed Cheques

      1. 76. General and special crossings defined

      2. 77. Crossing by drawer or after issue

      3. 78. Crossing a material part of cheque

      4. 79. Duties of banker as to crossed cheques

      5. 80. Protection to banker and drawer where cheque is crossed

      6. 81. Effect of crossing on holder

      7. 81A.Non-transferable cheques

      8. 82.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

  4. Part IV

    Promissory Notes

    1. 83. Promissory note defined

    2. 84. Delivery necessary

    3. 85. Joint and several notes

    4. 86. Note payable on demand

    5. 87. Presentment of note for payment

    6. 88. Liability of maker

    7. 89. Application of Part II to notes

  5. Part V

    Supplementary

    1. 90. Good faith

    2. 91. Signature

    3. 92. Computation of time

    4. 93. When noting equivalent to protest

    5. 94. Protest when notary not accessible

    6. 95. Dividend warrants may be crossed

    7. 96.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

    8. 97. Savings

    9. 98. Saving of summary diligence in Scotland

    10. 99. Construction with other Acts, &c

    11. 100. Parole evidence allowed in certain judicial proceedings in Scotland

  6. FIRST SCHEDULE

  7. SECOND SCHEDULE

An Act to codify the law relating to Bills of Exchange, Cheques, and Promissory Notes.

[18th August 1882]

Annotations:

Modifications etc. (not altering text)

C1Act amended by Consumer Credit Act 1974 (c. 39, SIF 60), s. 125(2)

Commencement Information

I1Act wholly in force at Royal Assent

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