Bills of Exchange. [Ch. 31. No. 5.

 

(5) Where a bill, either originally or by indorsement,
is expressed to be payable to the order of a specified person,
and not to him or his order, it is nevertheless pavable to him
or his order at his option.

9. (1) The sum payable by a bill is a sum certain within
the meaning of this Ordinance, although it is required to be
paid

(v7) with interest ;

(b) by stated instalments;

(c) by stated instalments, with a provision that
upon default in payment of any instalment the whole
shall become due;

(7) according to an indicated rate of exchange or
according to a rate of exchange to be ascertained as
directed by the bill.

(2) Where the sum payable is expressed in words and
uso in figures, and there is a discrepancy between the two,
the sum denoted by the words is the amount payable.

(3) Where a bill is expressed to be payable with
interest, unless the instrument otherwise provides, interest
runs from the date of the bill, and if the bill is undated from
the issue thereof,

10. (t) A billis payable on demand

(a) which is expressed to be payable on demand, or

at sight, or on presentation; or

(b) in which no time for payment is expressed.

(2) Where a bill is accepted or indorsed when it: is
overdue, it shall, as regards the acceptor who so accepts,
or any indorser who so indorses it, be deemed a bill payable
on demand.

M1. A bill is payable at a determinable future time within
the meaning of this Ordinance which is expressed to be
payable

(a) at a fixed period after date or sight;

(6) on or at a fixed period after the occurrence of a
specified event which is certain to happen, though the
time of happening may be uncertain.

Sum
pavable.

Bill payable
on demand.

Bill payable
at a future
time,