ISBN Publisher. International Law Book Services (ILBS). Year of Publication. Yearly print / cover colour might change. This Act may be cited as the Bills of Exchange Act Interpretation. 2. In this Act, unless the context otherwise requires– “acceptance” means an acceptance. 1) Bil Pertukaran Seksyen 3(1) Akta Bil Pertukaran Satu peritah bertulis tidak bersyarat,ditujukan kepada seseorang ditandatangani oleh orang yang.

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Bills of Exchange Act (Revised )

Laws of Malaysia ACT 2 Where the banker on whom a cheque is drawn which is so crossed nevertheless pays the same, or pays a cheque crossed generally otherwise than to a banker, or if crossed specially otherwise than to the banker to whom it is crossed, or his agent for collection being a banker, he is liable to the true owner of the cheque for any loss he may sustain owing to the cheque having been so paid: Laws of Malaysia ACT 2 An instrument expressed to be payable on a contingency is not a bill, and the happening of the event does not cure the defect.

Measure of damages against parties to dishonoured bill Bills of Exchange 13 Sum payable 9. General and special crossings defined Provided that– a where a person signs a bill in a trade or assumed name, he is liable thereon as if he had signed it in his own name; Bills of Exchange 19 b the signature of the name of a firm is equivalent to the signature by the person so signing of the names of all persons liable as partners in that firm.

Effect of “not negotiable” crossing on holder 81A.

Provided that– a where the holder in good faith and by mistake inserts a wrong date; and b in every case where a wrong date is inserted, if the bill subsequently comes into the hands of a holder in due course, the bill shall not be avoided thereby, but shall operate and be payable as if the date so inserted had been the true date. Provided that where an acceptance is written on a bill, and the drawee gives notice to or according to the directions of the person entitled to the bill that he has accepted it, the acceptance then becomes complete and irrevocable.

Liability of acceptor Provided that– i when the last day of grace falls on a Sunday, public holiday or bank holiday; Bills of Exchange 15 ii when the last day of grace of a bill drawn payable in a foreign currency falls on a Saturday, Sunday, public holiday or bank holiday, the bill shall be due and payable on the next succeeding business day; b where a bill is payable at a fixed period after date, after sight, or after the happening of a specified event, the time of payment is determined by excluding the day from which the time is to begin to run and by including the day of payment; c where a bill is payable at a pertukaean period after sight, the time begins to run from the date of the acceptance if the bill be accepted, and from the date of noting or protest if the bill be noted or protested for non-acceptance, or for non-delivery; d the 11949 “month” in a bill means calendar month.


Crossing a material part of cheques Special Provisions Relating to Endorsement, Etc. What bills are negotiable 9. Inland and foreign bills 5. pertukafan

Malaysian Legislation

Presentment of cheque through document image processing system Laws of Malaysia ACT 2 In particular the following alterations are material, namely, any alteration of date, the sum payable, the time of payment, the place of payment, and, where a bill has been accepted generally, the addition of a place of payment without the acceptor’s assent.

Crossed Cheques General and special crossings defined Negotiation of overdue or dishonoured bill Notwithstanding section 24, where a signature on a cheque is forged or placed thereon without the authority of the person whose signature it purports to be, and that person whose signature it purports to be knowingly or negligently contributes to the forgery or the making of the unauthorized signature, the signature shall operate and shall be deemed to be the signature of the person it purports to be in favour of any person who in good faith pays the cheque or takes the cheque for value.

Forged or unauthorized signature Bills of Exchange 23 Conditional indorsement Bills of Exchange 35 9 Protest is dispensed with by any circumstance which would dispense with notice of dishonour. Effect where different parties to bill are the same person 5. Aakta provisions of this Act as to crossed cheques shall apply to a warrant for payment of dividend and to a banker’s draft.


Where the banker, on whom a crossed cheque including a cheque which under section 81A or otherwise is not transferable is 19449, in good faith and without negligence pays it, if bli generally, to a banker, and if crossed specially, to the banker to whom it is crossed, or his agent for collection, being a banker, the banker paying the cheque, and if the cheque has come into the hands of the payee, the drawer, shall respectively be entitled to the same rights and be placed in the same position as if payment of the cheque has been made to the true owner thereof.

What is an unreasonable length of time for this purpose is a question of fact. When a bill payable to order on demand is drawn on a banker, and the banker on whom it is drawn pays the bills in good faith and in the ordinary course of business, it is not incumbent on the banker to show that the indorsement of the payee or any kata indorsement was made by or under the authority of the person whose indorsement it purports to be, and the banker is deemed to have paid the bill in due pertukran, although such indorsement has been forged or made without authority.

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Such a debt or liability is deemed valuable consideration whether the bill is payable on demand or at a future time. Optional stipulations by drawer or indorser Where a foreign bill has been accepted as to part, it must be protested as to the balance. Bills of Exchange 11 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.

Bills of Exchange 27 Non-acceptance Discharge of Bill Payment in due course Provided that where a cheque is presented for payment, atka does not at the time of presentment appear to be crossed, or to have had a crossing which has been obliterated, eprtukaran to have been added to or altered otherwise than as authorized by this Act, the banker paying the cheque in good faith and without negligence shall not be responsible or incur any liability, nor shall the payment be questioned by reason of the cheque having been crossed, or of the crossing having been obliterated or having been added to or altered otherwise than as authorized by this Act, and of payment having been made otherwise than to a banker or to the banker to whom the cheque is or was crossed, or to his agent for collection being a banker, as the case may be.

Bills of Exchange 21 2 In particular the title of a person who negotiates a bill is defective within the meaning of this Act when he obtained the bill, or the acceptance thereof, by fraud, duress, or force and fear, or other unlawful means, or for an illegal consideration, or when he negotiates it in breach of faith, or under such circumstances as amount to a fraud.

Address to drawee 7.

Laws of Malaysia ACT 4 The notarial act of honour must peryukaran founded on a declaration made by the payer for honour, or his agent in that behalf, declaring his intention to pay the bill for honour, and for whose honour he pays.

Payment in due course