BILLS OF EXCHANGE ACT 1882

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BILLS OF EXCHANGE ACT 1882 - SECT 3



3.(1) A bill of exchange is an unconditional order in writing, addressed by
one person to another, signed by the person giving it, requiring the person to
whom it is addressed to pay on demand or at a fixed or determinable future
time a sum certain in money to or to the order of a specified person, or to
bearer.

(2) An instrument which does not comply with these conditions, or which orders
any act to be done in addition to the payment of money, is not a bill of
exchange.

(3) An order to pay out of a particular fund is not unconditional within the
meaning of this section; but an unqualified order to pay, coupled with (a) an
indication of a particular fund out of which the drawee is to re-imburse
himself or a particular account to be debited with the amount, or (b) a
statement of the transaction which gives rise to the bill, is unconditional.

(4) A bill is not invalid by reason

(a)That it is not dated;

(b)That it does not specify the value given, or that any value has been given
therefor;

(c)That it does not specify the place where it is drawn or the place where it
is payable.

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Northern Irish Legislation

BILLS OF EXCHANGE ACT 1882 - SECT 3