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BILLS OF EXCHANGE ACT 1882 - SECT 8

What bills are negotiable.

8.(1) When a bill contains words prohibiting transfer, or indicating an
intention that it should not be transferable, it is valid as between the
parties thereto, but is not negotiable.

(2) A negotiable bill may be payable either to order or to bearer.

(3) A bill is payable to bearer which is expressed to be so payable, or on
which the only or last indorsement is an indorsement in blank.

(4) A bill is payable to order which is expressed to be so payable, or which
is expressed to be payable to a particular person, and does not contain words
prohibiting transfer or indicating an intention that it should not be
transferable.

(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 payable to him or his order at his option.


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© 1882 Crown Copyright

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