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Bills of Exchange Act 1882

45 & 46 Vict. c. 61 · Enacted 18 August 1882 · Extends to United Kingdom

Up to date with all changes known to legislation.gov.uk, revised to 20 September 2023.

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

[18th August 1882]C1I1

Annotations to the whole text

Modifications

C1

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

Commencement

I1

Act wholly in force at Royal Assent

Contents

  1. Part I: Preliminary
  2. 1Short title.
  3. 2Interpretation of terms.
  4. Part II: Bills of Exchange
  5. Form and Interpretation
  6. 3Bill of exchange defined.
  7. 4Inland and foreign bills.
  8. 5Effect where different parties to bill are the same person.
  9. 6Address to drawee.
  10. 7Certainty required as to payee.
  11. 8What bills are negotiable.
  12. 9Sum payable.
  13. 10Bill payable on demand.
  14. 11Bill payable at a future time.
  15. 12Omission of date in bill payable after date.
  16. 13Ante-dating and post-dating.
  17. 14Computation of time of payment.
  18. 15Case of need.
  19. 16Optional stipulations by drawer or indorser.
  20. 17Definition and requisites of acceptance.
  21. 18Time for acceptance.
  22. 19General and qualified acceptances.
  23. 20Inchoate instruments.
  24. 21Delivery.
  25. Capacity and Authority of Parties
  26. 22Capacity of parties.
  27. 23Signature essential to liability.
  28. 24Forged or unauthorised signature.
  29. 25Procuration signatures.
  30. 26Person signing as agent or in representative capacity.
  31. The Consideration for a Bill
  32. 27Value and holder for value.
  33. 28Accommodation bill or party.
  34. 29Holder in due course.
  35. 30Presumption of value and good faith.
  36. Negotiation of Bills
  37. 31Negotiation of bill.
  38. 32Requisites of a valid indorsement.
  39. 33Conditional indorsement.
  40. 34Indorsement in blank and special indorsement.
  41. 35Restrictive indorsement.
  42. 36Negotiation of overdue or dishonoured bill.
  43. 37Negotiation of bill to party already liable thereon.
  44. 38Rights of the holder.
  45. General Duties of the Holder
  46. 39When presentment for acceptance is necessary.
  47. 40Time for presenting bill payable after sight.
  48. 41Rules as to presentment for acceptance, and excuses for non-presentment.
  49. 42Non-acceptance.
  50. 43Dishonour by non-acceptance and its consequences.
  51. 44Duties as to qualified acceptances.
  52. 45Rules as to presentment for payment.
  53. 46Excuses for delay or non-presentment for payment.
  54. 47Dishonour by non-payment.
  55. 48Notice of dishonour and effect of non-notice.
  56. 49Rules as to notice of dishonour.
  57. 50Excuses for non-notice and delay.
  58. 51Noting or protest of bill.
  59. 52Duties of holder as regards drawee or acceptor.
  60. Liabilities of Parties
  61. 53Funds in hands of drawee.
  62. 54Liability of acceptor.
  63. 55Liability of drawer or indorser.
  64. 56Stranger signing bill liable as indorser.
  65. 57Measure of damages against parties to dishonoured bill.
  66. 58Transferor by delivery and transferee.
  67. Discharge of Bill
  68. 59Payment in due course.
  69. 60Banker paying demand draft whereon indorsement is forged.
  70. 61Acceptor the holder at maturity.
  71. 62Express waiver.
  72. 63Cancellation.
  73. 64Alteration of bill.
  74. Acceptance and Payment for Honour
  75. 65Acceptance for honour supra protest.
  76. 66Liability of acceptor for honour.
  77. 67Presentment to acceptor for honour.
  78. 68Payment for honour supra protest.
  79. Lost Instruments
  80. 69Holder’s right to duplicate of lost bill.
  81. 70Action on lost bill.
  82. Bill in a Set
  83. 71Rules as to sets.
  84. Conflict of Laws
  85. 72Rules where laws conflict.
  86. Part III: Cheques on a Banker
  87. 73Cheque defined.
  88. 74Presentment of cheque for payment.
  89. 74APresentment of cheque for payment: alternative place of presentment.
  90. 74BPresentment of cheque for payment: alternative means of presentment by banker Repealed
  91. 74CCheques presented for payment under section 74B: disapplication of section 52(4). Repealed
  92. 75Revocation of banker’s authority.
  93. 75ASection 75A
  94. Crossed Cheques
  95. 76General and special crossings defined.
  96. 77Crossing by drawer or after issue.
  97. 78Crossing a material part of cheque.
  98. 79Duties of banker as to crossed cheques.
  99. 80Protection to banker and drawer where cheque is crossed.
  100. 81Effect of crossing on holder.
  101. 81ANon-transferable cheques.
  102. 82. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Repealed
  103. Part IV: Promissory Notes
  104. 83Promissory note defined.
  105. 84Delivery necessary.
  106. 85Joint and several notes.
  107. 86Note payable on demand.
  108. 87Presentment of note for payment.
  109. 88Liability of maker.
  110. 89Application of Part II to notes.
  111. Part 4A: Presentment of cheques and other instruments by electronic means
  112. 89APresentment of instruments by electronic means
  113. 89BInstruments to which section 89A applies
  114. 89CBanker's obligation in relation to accepting physical instrument for presentment
  115. 89DCopies of instruments and evidence of payment
  116. 89ECompensation in cases of presentment by electronic means
  117. 89FSupplementary
  118. Part V: Supplementary
  119. 90Good faith.
  120. 91Signature.
  121. 92Computation of time.
  122. 93When noting equivalent to protest.
  123. 94Protest when notary not accessible.
  124. 95Dividend warrants may be crossed.
  125. 96. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Repealed
  126. 97Savings.
  127. 98Saving of summary diligence in Scotland.
  128. 99Construction with other Acts, &c.
  129. 100Parole evidence allowed in certain judicial proceedings in Scotland.
  130. Schedule FIRSTSchedule FIRST
  131. Schedule SECONDSchedule SECOND