BILLS OF EXCHANGE ACT 1882

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BILLS OF EXCHANGE ACT 1882 - SECT 71



71.(1) Where a bill is drawn in a set, each part of the set being numbered,
and containing a reference to the other parts the whole of the parts
constitute one bill.

(2) Where the holder of a set indorses two or more parts to different persons,
he is liable on every such part, and every indorser subsequent to him is
liable on the part he has himself indorsed as if the said parts were separate
bills.

(3) Where two or more parts of a set are negotiated to different holders in
due course, the holder whose title first accrues is as between such holders
deemed the true owner of the bill; but nothing in this sub-section shall
affect the rights of a person who in due course accepts or pays the part first
presented to him.

(4) The acceptance may be written on any part, and it must be written on one
part only.

If the drawee accepts more than one part, and such accepted parts get into the
hands of different holders in due course, he is liable on every such part as
if it were a separate bill.

(5) When the acceptor of a bill drawn in a set pays it without requiring the
part bearing his acceptance to be delivered up to him, and that part at
maturity is outstanding in the hands of a holder in due course, he is liable
to the holder thereof.

(6) Subject to the preceding rules, where any one part of a bill drawn in a
set is discharged by payment or otherwise, the whole bill is discharged.

Rules where laws conflict.

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Northern Irish Legislation

BILLS OF EXCHANGE ACT 1882 - SECT 71