An acceptance to pay at a particular place is a general acceptance unless it expressly states that the bill is to be paid there only and not elsewhere;

(d) Qualified as to time;

(e) The acceptance of some one or more of the drawees, but not of all.

18. (1) Where a simple signature on a blank paper to which a stamp has been affixed by the signer is delivered by him in order that it may be converted into a bill, it operates as a primâ facie authority to fill it up as a complete bill for any amount; such stamp will cover using the signature for that of the drawer or the acceptor or an endorser; and in like manner when a bill is wanting in any material particular, the person in possession of it has a primâ facie authority to fill up the omission in any way he thinks fit.

(2) In order that any such instrument, when completed, may be enforceable against any person who became a party thereto prior to its completion, it must be filled up within the time agreed on, or if no time be agreed on, then within a reasonable time, and strictly in accordance with the authority given. Reasonable time for the purpose is a question of fact:

Provided that if any such instrument, after completion, is negotiated to a holder in due course it shall be valid and effectual for all purposes in his hands, and he may enforce it as if it had been filled up within a reasonable time and strictly in accordance with the authority given.

19. (1) Every contract on a bill, whether it be the drawer's, the acceptor's or an endorser's, is incomplete and revocable until delivery of the instrument in order to give effect thereto :

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.

(2) As between immediate parties and as regards a remote party other than a holder in due course, the delivery—

(a) in order to be effectual, must be made either by or under the authority of the party drawing, accepting or endorsing, as the case may be;

(b) may be shown to have been conditional or for a special purpose only, and not for the purpose of transferring the property in the bill.

But if the bill be in the

hands of a holder in due course, a valid delivery of the bill by all parties prior to him so as to make them liable to him is conclusively presumed.

(3) Where a bill is no longer in the possession of a party who has signed it as a drawer, acceptor or endorser, a valid and unconditional delivery by him is presumed until the contrary is proved.

CAPACITY AND AUTHORITY OF PARTIES.

20. (1) Capacity to incur liability as a party to a bill is coextensive with capacity to contract; provided that to the validity of a bill accepted or endorsed by a woman the renunciation of the benefits senatus consultum velleianum and authentica si qua mulier shall not be requisite.

(2) Where a bill is drawn or endorsed by an infant or minor or corporation having no capacity or power to incur liability on a bill, the drawing or endorsement entitles the holder to receive payment of the bill and to enforce it against any other party thereto.

21. No person is liable as drawer, endorser or acceptor of a bill who has not signed it as such; provided that—

(1) 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.

(2) 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 of that firm.

22. Subject to the provisions of this Proclamation, where a signature on a bill is forged or placed thereon without the authority of the person whose signature it purports to be, the forged or unauthorised signature is wholly inoperative, and no right to retain the bill, or to give a discharge therefor, or to enforce payment thereof against any party thereto can be acquired through or under that signature, unless the party against whom it is sought to retain or enforce payment of the bill is precluded from setting up the forgery or want of authority; provided that nothing in this section. shall affect the ratification of an unauthorised signature not amounting to forgery.

23. A signature by procuration operates as notice that the agent has but a limited authority to sign, and the principal is only bound by such signature if the agent in so signing was acting within the actual limits of his authority.

24. (1) Where a person signs a bill as drawer, endorser or acceptor and adds words to his signature indicating that he signs for or on behalf of a principal, or in a representative character, he is not personally liable thereon; provided that if such person had no authority to sign for and on behalf of such principal or in a representative character he shall be personally liable on the said

bill.

(2) In determining whether a signature on a bill is that of a principal or that of the agent by whose hand it is written, the construction most favourable to the validity of the instrument shall be adopted.

THE CONSIDERATION OF A BILL.

25. (1) Valuable consideration for a bill may be constituted by

(a) any cause sufficient to support an action founded on contract or agreement;

(b) an antecedent debt or liability.

Such a debt or liability is deemed valuable consideration whether the bill is payable on demand or at a future time.

(2) Where value has at any time been given for a bill the holder is deemed to be a holder for value as regards the acceptor and all parties to the bill who became parties prior to such time.

(3) Where the holder of a bill has a lien on it arising either from contract or by implication of law he is deemed to be a holder for value to the extent of the sum for which he has a lien.

26. (1) An accommodation party to a bill is a person who has signed a bill as drawer, acceptor or endorser without receiving value therefor, and for the purpose of lending his name to some other person.

(2) An accommodation party is liable on the bill to a holder for value; and it is immaterial whether, when such holder took the bill, he knew such party to be an accommodation party or not.

27. (1) A holder in due course is a holder who has taken a bill complete and regular on the face of it under the following con ditions, namely:

(a) That he became the holder of it before it was overdue and without notice that it had previously been dishonoured, if such was the fact.

(b) That he took the bill in good faith and for value, and that at the time the bill was negotiated to him he had no notice of any defect in the title of the person who negotiated it.

(2) in particular the title of a person who negotiates a bill is defective within the meaning of this Proclamation when he obtained the bill or the acceptance thereof by fraud 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 fraud.

(3) A holder, whether for value or not, who derives his title to a bill through a holder in due course, and who is not himself a party to any fraud or illegality affecting it, has all the rights of that holder in due course as regards the acceptor and all. parties to the bill prior to that holder.

28. (1) Every party whose signature appears on a bill is primâ facie deemed to have become a party thereto for value.

(2) Every holder of a bill is prima facie deemed to be a holder in due course; but if in an action on a bill it is admitted or proved that the acceptance, issue or subsequent negotiation of the bill is affected with fraud or illegality, the burden of proof is shifted unless and until the holder proves that subsequent to the alleged fraud or illegality value has in good faith been given for the bill.

NEGOTIATION OF BILLS.

29. (1) A bill is negotiated when it is transferred from one person to another in such a manner as to constitute the transferee the holder of the bill.

(2) A bill payable to bearer is negotiated by delivery.

(3) A bill payable to order is negotiated by the endorsement. of the holder, completed by delivery.

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(4) When the holder of a bill payable to his order transfers it for value without endorsing it the transfer gives the transferee such title as the transferor had in the bill, and the transferee in addition acquires the right to have the endorsement of the transferor.

(5) When any person is under obligation to endorse a bill in a representative capacity he may endorse the bill in such terms as to negative personal liability.

30. An endorsement in order to operate as a negotiation must comply with the following conditions, namely:

(1) It must be written on the bill itself and be signed by the endorser. The simple signature of the endorser on the bill without additional words is sufficient.

An endorsement written on the allonge or on a copy" of a bill issued or negotiated in a country where copies are recognised is deemed to be written on the bill itself.

(2) It must be an endorsement of the entire bill. A partial endorsement (that is to say, an endorsement which purports to transfer to the endorsee a part only of the amount payable, or which purports to transfer the bill to two or more endorsees severally) does not operate as a negotiation of the bill.

(3) Where a bill is payable to the order of two or more payees or endorsees who are not partners, all must endorse unless the one endorsing has authority to endorse for the others.

(4) Where in a bill payable to order the payee or endorsee is wrongly designated or his name is mis-spelt, he shall endorse the bill as therein described, adding his proper signature.

(5) Where there are two or more endorsements on a bill, each endorsement is deemed to have been made in the order in which it appears on the bill until the contrary is proved.

(6) An endorsement may be made in blank or special. It may also contain terms making it restrictive.