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Bills of Exchange Act 1976

LAWS OF WESTERN SAMOA

BILLS OF EXCHANGE

ANALYSIS

Title
1. Short title
2. Interpretation

PART I
BILLS OF EXCHANGE

Forms and Interpretation

3. Bill of exchange" defined
4. Inland and foreign bills
5. How bills may he drawn
6. Address to drawee
7. Certainty required as to payee
8. What bills are negotiable
9. Sum payable
10. Bill payable on demand
11. Bill payable at a future time
12. Omission of date in bill payable after date
13. Antedating and postdating
14. Computation of time payment
15. Referee in case of need
16. Optional stipulations by drawer or indorser
17. Definition and requisites of acceptance
18. Time for acceptance
19. General and qualified acceptances
20. Inchoate instruments
21. Delivery

Capacity and Authority of Parties

22. Capacity of parties
23. Signature essential to liability
24. Forged or unauthorised signature
25. Signature by procuration
26. Person signing as agent or representative

The Consideration for a Bill

27. Value and holder for value
28. Accommodation party
29. Holder in due course
30. Presumption of value and good faith

Negotiation of Bills

31. Negotiation of bill
32. Requisition of a valid indorsement
33. Conditional indorsement
34. Indorsement in blank, and special indorsement
35. Restrictive indorsement
36. Negotiation of overdue or dishonoured bill
37. Negotiation of bill to party already liable thereon
38. Rights of the holder

General Duties of the Holder

39. When presentment for acceptance is necessary
40. Time for presenting bill payable after sight
41. Rules as to presentment for acceptance, and excuses for non-presentment
42. Non-acceptance
43. Dishonour by non-acceptance, and its consequences
44. Qualified acceptance
45. Rules as to presentment for payment
46. Excuses for delay or non-presentment for payment
47. Dishonour by non-payment
48. Notice of dishonour
49. Rules as to notice of dishonour
50. Excuses for want of notice and delay
51. Noting or protest of bill
52. Duties of holder as regards drawee or acceptor

Liabilities of Parties

53. Funds in hands of drawee
54. Liability of acceptor
55. Liability of drawer or indorser
56. Stranger signing bill liable as indorser
57. Measure of damages against parties to dishonoured bill

Presumption of value and good faith

58. Transferor and transferee by delivery

Discharge of Bill

59. Payment in due course
60. Bank paying on demand draft bearing forged indorsement
61. Where acceptor the holder at maturity