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as on a bill


Inland bill, draft, or order, for the payment of The same duty any sum of money, though not made payable

exchange for to the bearer or to order, if the same shall be the like sum delivered to the payee, or some person on his

payable to

bearer ori or her behalf.

order. Inland bill, draft, or order, for the payment of

The same duty any sum of money, weekly, monthly, or at any other stated periods, if made payable to the payable to bearer, or to order, or if delivered to the

bearer or

order, on de payee or some person on his or her behalf,

mand, for a where the total amount of the money thereby sum equal to

such total made payable shall be specified therein, or can be ascertained therefrom.

The same duty

as on a bill on And where the total amount of the money demand for thereby made payable shall be indefinite. the sum there.

in expressed

only. And the following instruments shall be deemed

and taken to be inland bills, drafts, or orders, for the payment of money, within the intent and meaning of this schedule, viz.

All drafts or orders for the payment of any sum of money, by a bill or promissory note, or for the delivery of any such bill or note in payment or satisfaction of any sum of money; where such drafts or orders shall require the payment or delivery to be made to the bearer, or to order, or shall be delivered to the payee, or some person on his or her behalf.

All receipts given by any banker or bankers, or other person or persons for money received, which shall entitle, or be intended to entitle, the person or persons paying the money, or the bearer of such receipts, to receive the like sum from


person or persons.
And all bills, drafts, or orders, for the pay-
ment of any sum of money out of any parti-
cular fund which may or may nots be availa-
ble, or upon any condition or contingency
which may or may not be performed or hap-

s See Firbank v. Bell, 1 B. & A. 36.

pen, if the same shall be made payable to the bearer, or to order, or if the same shall be delivered to the payee, or some person on his or her behalf.

A bill drawn payable to the order of the drawer in London, (where drawn,) upon a foreign merchant abroad and accepted by him payable in London, requires a stamp as an inland billt.

Foreign bill of exchange (or bill of exchange drawn in, but payable out of, Great Britain) if drawn singly and not in a set

The same duty as on an inland bill of the same amount and tenor.

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Foreign bills of exchange, drawn in sets, ac

cording to the custom of merchants, for every bill of each set, where the sum made paya

ble thereby shall not exceed 1001. Exceeding 1001, and not exceeding 2001. . 2001.

5001. 5002.

10001. 10001.

20001. 20001.

30001. Exceeding 30001.

0 1 6 0 3 0 0 4 0 0 5 0 0 7 6 0 10 0 0 15 0

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Exemptions from the preceding and all other Stamp Duties :

All bills of exchange, or bank post bills, issued by the governor and company of the Bank of England. All bills, orders, remittance bills, and remittance certificates, drawn by commissioned officers, masters and surgeons in the navy, or by any commissioner of the navy, under the act of the 35th year of his late Majesty's reign, for the more expeditious payment of the wages and pay of certain officers belonging to the navy. All bills drawn pursuant to any former act of

parliament by the commissioners of the navy, or by the commissioners for victualling the navy, or by the commissioners for managing the transport service, and for taking care of sick and wounded seamen, upon, and payable by the treasurer of the navy. All drafts or orders for the payment of any sum of

t Amner v. Clark, 2 Cr. M. & R. 469.

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money to the bearer on demand, and drawn upon any banker, or any person acting as a banker, who shall reside, or transact the business of a banker, within 15 miles of the place where such drafts or orders shall be issued, provided such place shall be specified in such drafts or orders; and provided the same shall bear date on or before the day on which the same shall be issued; and provided the same do not direct the payment to be made by bills or promissory notes.

The stamp duty is imposed upon the sum actually due at the time of taking the security, and not upon what may become due in future for the use of the money. missory note for the payment of 301. at three months after date, with interest from the date, requires a stamp applicable to a note not exceeding 30l. So where a note reserves interest from a day prior to the date, a stamp applicable to the principalt sum is sufficient. The legislature having in contemplation the mistakes which might arise in the use of stamps of an improper denomination, has by stat. 37 Geo. 3. c. 136, made provision for those mistakes ; for, by the fifth section of that statute, it is enacted, that bills and notes made after the passing this act, and liable to a stamp duty by stat. 31 Geo. 3. c. 25, if stamped with a stamp of a different denomination than is required by the last-mentioned act, may, if the same be of equal or superior value to the stamp required, be stamped by the commissioners on payment of the duty and penalty ; that is by sect. 6th of the 37th Geo. 3. c. 136, the penalty of forty shillings, if the bill or note is produced to the commissioners, before it is payable, and ten pounds, if so produced after it is payable. Since this statute of 37 Geo. 3, it has been determined that a promissory note drawn before the 37th Geo. 3. c. 136, upon a receipt stamp of equal value with that required for a promissory note, is not available in law. The act of 37 G. 3. c. 136, is a clear legislative declaration, that it is not sufficient, that a certain sum of money be paid on the instruments which are the subjects of taxation, but the stamp used must be of the proper denomination. Per Sir J. Mansfield, C. J. delivering the opinion of the court in Chamberlain v. Porter, 1 Bos. & Pul. N. R. 33. By stat. 31 Geo. 3. c. 25. s. 19, bills and notes were forbidden to be stamped after they were made. This provision is still in force. Stat. 35 G. 3. C. 63. s. 14, contains a similar provision as to marine assurances.

Hence a pro

r See stat. 9 Geo. 4. c. 49. s. 15.
s Pruessing v. Ing, 4 B. and A. 204.
1 Wills v. Noott, 4 Tyrw. 726.

u Chamberlain v. Porter, 1 Bos. and

Pul. N. R. 30.

By stat. 43 Geo. 3. c. 127. s. 6, it is enacted that every instruments, matter, or thing, although stamped or impressed with any stamp of greater value than the stamp required by law, shall be valid and effectual, provided such stamp

shail be of the denomination required by law for such instrument, &c.

An unstamped bill, or one improperly stamped, cannot be read to the juryy as evidence of the contract, or any part of it, in respect of which the plaintiff sues.

Where partners resident in Ireland signed and indorsed a copper-plate impression of a bill of exchange, leaving blanks for the date, sum, time when payable, and name of the drawee, and transmitted it to B. in England for his use, who filled up the blanks and negotiated it: held that this was to be considered a bill of exchange by relation from the time of the signing and indorsing in Ireland, and consequently that an English stamp was not necessary?. But a bill of exchangea drawn in England upon a person abroad, but accepted by him, payable in England, is an inland bill, and requires a stamp as such. Indorsee of a bill of exchange, against the acceptorb. It appeared at the trial, that the bill which was drawn on a proper stamp, was originally dated on the 2nd September, 1793, payable twenty-one days after date; and, while it continued in the hands of the drawer, it was altered with the consent of the acceptor, to be made payable fifty-one days after date, and afterwards with the like consent was again restored to twenty-one days after date, and the date brought forward from the 2nd to the 14th September. This last alteration was made on the 30th September, the bill being then over due according to the original tenor of it; after these alterations, it was negotiated, and came into the hands of plaintiff. Lord Kenyon, C. J. non-suited the plaintiff; and, on a motion to set aside the non-suit, the court were clearly of opinion, that the nonsuit was proper; for that, at the time when the last alteration was made, the operation of the bill, as it originally stood, was quite spent; that it was a new and distinct transaction between the parties; and that therefore there ought to have been a new stamp. The plaintiff declared as indorsee of a bill of exchange against the acceptor', and it appeared that the bill in question, which was drawn by Giles and Co., on the 3rd of June, 1807, payable to their own order, and accepted by the defendant at three months' date, was exchanged by him with Giles and Co. for their acceptance of a bill drawn by the defendant for the same sum at eighty-five days, payable to his order, the object being that Giles and Co. should put the defendant in cash before his acceptance became due. On the 23rd of June, before Giles and Co, or the defendant had passed the respective securities to any other person, it was agreed to procrastinate the payment of the bills by post-dating them the 23rd of June, instead of the 3rd. The court were of opinion, that the alteration rendered a new stamp necessary; observing, that the delivery of the bill by the drawer to the acceptor, and the re-delivery of it for a valuable consideration, such as the exchange of acceptances, has been held to be, since Cowley v. Dunlop, 7 T. K. 565, a negotiation of the bill; that the several drawers were mutual purchasers of each other's acceptances; and, as the alteration was made while the bill was in this course of negotiation, and after it had continued so twenty days, (during which time it was in the power of the drawer and payee to have passed it to any third person, it was in effect drawing a new bill. So where a promissory note, payable by the defendant to the plaintiff or orderd, was originally expressed to be for value received, but the day after it had been signed and delivered by defendant to plaintiff, it was by consent of the parties altered, by the addition of the words for the goodwill of the lease and trade of Mr. F. K. deceased ; it was holden, that as the alteration was material, as well because it was evidence of a fact which, if necessary to be inquired into, must otherwise have been proved by different evidence, as also because it pointed out the particular consideration for the note, and put the holder upon inquiring, whether that consideration had passed; and as such alteration was made after the note had issued, a new stamp was necessary. An alteration, made with the assent of the defendant, the acceptor, and before the bill was negotiated, has been holdene not to be a re-issuing, so as to require a fresh stamp. An objection, on the ground of the insufficiency of the stamp, cannot be taken after payment of money into courtf.

x See Farr v. Price, 1 East's R. 55, and

Taylor v. Hague, 2 East's R. 414. y Jardine v. Payne, 1 B. and Ad. 663.

in effect overruling Bishop v. Cham

bre, 1 Danson and Lloyd, 83. z Snaith v. Mingay, 1 M. and S. 87.

recognized by Parke, J. Holdsworth v. Hunter, 10 B. and C. 456.

a Amner v. Clark, 2 Cr. M. and R.

468; 1 Gale, 191. b Bowman v. Nichol, 5 T. R. 537. c Cardwell v. Martin, 9 East, 190. See

also Bathe v. Taylor, 15 East, 412. S. P.

Omission of Date.-Regularly, every bill of exchange ought to be dated: but in the following cases, where the day of the date was omitted in the declaration, the court said they would intend the bill to bear date on the day when it was

d Knill v. Williams, 10 East, 431.
e Leykariff v. Ashford, 12 Moore, 281.

f Israel v. Benjamin, 3 Campb. 40.

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