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BILLS OF EXCHANGE ACT 1882 - SECT 2

Interpretation of terms.

2. In this Act, unless the context otherwise requires,

"Acceptance" means an acceptance completed by delivery or notification.

"Action" includes counter claim and set off.

"Banker" includes a body of persons whether incorporated or not who carry on
the business of banking.

"Bankrupt" includes any person whose estate is vested in a trustee or assignee
under the law for the time being in force relating to bankruptcy.

"Bearer" means the person in possession of a bill or note which is payable to
bearer.

"Bill" means bill of exchange, and "note" means promissory note.

"Delivery" means transfer of possession, actual or constructive, from one
person to another.

"Holder" means the payee or indorsee of a bill or note who is in possession of
it, or the bearer thereof.

"Indorsement" means an indorsement completed by delivery.

"Issue" means the first delivery of a bill or note, complete in form to a
person who takes it as a holder.

"Person" includes a body of persons whether incorporated or not.

"Value" means valuable consideration.

"Written" includes printed, and "writing" includes print.

Bill of exchange defined.

© 1882 Crown Copyright

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