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| South Africa NATIONAL LEGISLATION OVERVIEWS  |
||
Bills of Exchange Act, No. 34 of
1964
Long title
To consolidate and amend the laws relating to bills of exchange, cheques and promissory notes.
Table of contents
| SECTION | TITLE |
| DEFINITIONS | |
| 1. | Definitions |
| CHAPTER 1. BILLS OF EXCHANGE - FORM AND INTERPRETATION | |
| 2. | Definition
of and requirements for bill of exchange |
| 3. | Effect
if different parties to a bill are the same person, or drawee a
fictitious person or not having capacity to contract |
| 4. | Requirements
as to drawee |
| 5. | Requirements
as to payee |
| 6. | Negotiability of bills |
| 7. | Sum
payable |
| 8. | When
bill is payable on demand |
| 9. | When
a future time is determinable |
| 10. | Omission
of date in bill payable after date |
| 11. | Presumption
as to correctness of date, and antedating and post-dating, and date of
a nonbusiness day |
| 12. | Computation
of time of payment |
| 13. | [...repealed by Act
2000_056_004_20001206...] |
| 14. | Optional
stipulations by drawer or indorser |
| 15. | Definition
and requisites of acceptance |
| 16. | Time
for acceptance |
| 17. | General
and qualified acceptances |
| 18. | Inchoate instruments |
| 19. | Delivery
as requirement for contract on a bill |
| CAPACITY AND AUTHORITY OF PARTIES | |
| 20. | Capacity
of parties |
| 21. | Signature
as requirement for liability |
| 22. | Forged and unauthorized signatures |
| 23. | [...repealed by Act
2000_056_007_20001206] |
| 24. | Signature
as agent or in representative capacity |
| THE CONSIDERATION FOR A BILL | |
| 25. | Holder
for value [...substituted
by Act 2000_056_009_20001206] |
| 26. | Accommodation
bill or party |
| 27. | Holder
in due course |
| 28. | Presumption
as to value and good faith |
| NEGOTIATION OF BILLS | |
| 29. | Negotiation
of bill |
| 30. | Manner
of indorsing |
| 31. | Indorsement
in blank and special indorsement |
| 32. | Restrictive
indorsement |
| 33. | Conditional indorsement |
| 34. | Continuance
of negotiability, and negotiation of overdue or dishonoured bill |
| 35. | Negotiation
of bill to party already liable thereon |
| 36. | Rights
and powers of the holder |
| GENERAL DUTIES OF THE HOLDER |
|
| 37. | When presentment for acceptance is necessary, and delay in such presentment |
| 38. | Time
for presenting for acceptance bill payable after sight |
| 39. | Rules
as to presentment for acceptance, and excuses for non-presentment |
| 40. | Failure to accept within customary time |
| 41. | When
bill is dishonoured by non-acceptance, and consequences thereof |
| 42. | Duties
as to and consequences of qualified acceptance |
| 43. | Rules
as to presentment for payment |
| 43A. | Presentment
for payment by bank [...inserted by Act
2000_056_013_20001206] |
| 44. | When
presentment for payment may be delayed or dispensed with |
| 45. | When bill is
dishonoured by non-payment, and consequences thereof |
| 46. | Notice of
dishonour and effect of failure to give such notice |
| 47. | Rules as to notice of dishonour |
| 48. | When notice of
dishonour may be delayed or dispensed with |
| 49. | Protest of
bill, and consequences of failure to protest |
| 50. | Duties of
holder towards acceptor as regards presentment for payment,
protest and notice of dishonour, and towards payer on payment of bill |
| LIABILITIES OF PARTIES | |
| 51. | Liability of
drawee |
| 52. | Liability of
acceptor |
| 53. | Liability of
drawer and of indorser |
| 54. | Liability of
stranger signing bill |
| 54A. | Liability
of signer of aval [...inserted by Act
2000_056_017_20001206] |
| 55. | Damages recoverable from parties to dishonoured bill |
| 56. | Liability of
transferor by delivery |
| DISCHARGE OF BILL |
|
| 57. | Discharge by
payment in due course |
| 58. | Bank paying
demand draft where indorsement is forged |
| 59. | Discharge by
acceptor becoming holder |
| 60. | Discharge by
waiver |
| 61. | Discharge by cancellation of bill, and discharge of party by cancellation of his signature |
| 62. | Effect of
alteration of bill or acceptance |
| ACCEPTANCE AND PAYMENT FOR
HONOUR, AND PAYMENT BY REFEREE IN CASE OF NEED |
|
| 63. | [...repealed by Act
2000_056_020_20001206] |
| 64. | [...repealed by Act
2000_056_021_20001206] |
| 65. | [...repealed by Act
2000_056_022_20001206] |
| 66. | [...repealed by Act
2000_056_023_20001206] |
| LOST INSTRUMENTS |
|
| 67. | Holder's
rights if bill or note is lost or destroyed |
| 68. | Action upon
lost bill or note |
| BILL IN A SET |
|
| 69. | Rules
as to a bill in a set |
| CONFLICT OF LAWS | |
| 70. | Rules if laws
conflict |
| CHAPTER II. CHEQUES
- GENERALLY |
|
| 71. | Applicability
to cheques of certain provisions relating to certain other bills |
| 72. | Presentment of
cheque for payment |
| 72A. | Liability
of drawee who has certified cheque [...inserted by Act
2000_056_029_20001206] |
| 72B. | Prevention
of fraud [...inserted by Act
2000_056_029_20001206] |
| 73. | Revocation of
bank’s authority |
| 74. | [...repealed by Act
2000_056_031_20001206] |
| CROSSED CHEQUES |
|
| 75. | General and
special crossings on cheques |
| 75A. | Non-transferable
cheques [...inserted by Act
2000_056_033_20001206] |
| 76. | Crossings by
drawer, or after issue |
| 77. | Crossing
material part of cheque |
| 78. | Duties of
banks as to crossed cheques |
| 79. | Protection to
bank and drawer where cheque is crossed |
| 80. | Effect of
crossing and addition of words “not negotiable” on rights of holder |
| 81. | True owner of
stolen or lost crossed cheque marked “not negotiable”
entitled to compensation from certain subsequent possessors |
| 82. | Application of
sections 75 to 81 to certain documents other than cheques |
| UNINDORSED OR IRREGULARLY
INDORSED INSTRUMENTS |
|
| 83. | Effect of payment to or crediting of accounts by bankers of amounts of unendorsed or irregularly indorsed cheques and certain other documents |
| 84. | Rights of bank
if unendorsed or irregularly indorsed cheques or certain other
documents are delivered to them for collection |
| 85. | Evidential
value of payment of unendorsed or irregularly indorsed cheques or
certain other documents |
| 86. | Negotiability
of documents referred to in sections 83, 84 and 85 |
| CHAPTER III. PROMISSORY NOTES |
|
| 87. | Promissory note defined |
| 88. | Delivery a
requirement for coming into existence of note |
| 89. | Joint or joint
and several liability on notes |
| 90. | Time of
presentment for payment of note payable on demand and indorsed |
| 91. | Presentment of
note for payment |
| 92. | Liability of
maker |
| 93. | Application to
notes of provisions relating to bills |
| CHAPTER IV. SUPPLEMENTARY
PROVISIONS |
|
| 94. | Good faith |
| 95. | Signature |
| 96. | Computation of
time |
| 97. | [...repealed by Act
2000_056_045_20001206] |
| 98. | Protest when
notary not accessible |
| 99. | Certain
provisions of Act applicable to dividend warrants, coupons for interest
and postal and money orders |
| 100. | Laws that are
not affected by this Act |
| 101. | Repeal of laws |
| 102. | Short title |
| Sch.1. | FIRST
SCHEDULE. FORM OF PROTEST WHICH MAY IN TERMS OF SECTION NINETY-EIGHT BE
USED WHEN THE SERVICES OF A NOTARY CANNOT BE OBTAINED [s98] |
| Sch. 2. | SECOND SCHEDULE. LAWS REPEALED [s101] |
Legislation Text Access Point
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| As unamended Act 1964_034_000_19640515 | EXT.LINK | REQ.INFO | LINK |
| As amended by Act 1971_057_000_19710616 | N/A | REQ.INFO | LINK |
| As amended by Act 1977_058_000_19770506 | N/A | REQ.INFO | LINK |
| As amended by Act 1986_077_000_19860704 | N/A | REQ.INFO | LINK |
| As amended by Act 2000_056_000_20001206 | N/A | REQ.INFO | LINK |
| As amended by ... | N/A | REQ.INFO | LINK |
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