BILLS OF EXCHANGE ACT 1882 - SECT 11 Bill payable at a future time.

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BILLS OF EXCHANGE ACT 1882 - SECT 11

Bill payable at a future time.

11. A bill is payable at a determinable future time within the meaning of
this Act which is expressed to be payable

(1)At a fixed period after date or sight.

(2)On or at a fixed period after the occurrence of a specified event which is
certain to happen, though the time of happening may be uncertain.

An instrument expressed to be payable on a contingency is not a bill, and the
happening of the event does not cure the defect.

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Northern Irish Legislation

BILLS OF EXCHANGE ACT 1882 - SECT 11