BILLS OF EXCHANGE ACT 1882

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BILLS OF EXCHANGE ACT 1882 - SECT 72



72. Where a bill drawn in one country is negotiated, accepted, or payable in
another, the rights, duties, and liabilities of the parties thereto are
determined as follows:

(1)The validity of a bill as regards requisites in form is determined by the
law of the place of issue, and the validity as regards requisites in form of
the superventing contracts, such as acceptance, or indorsement, or acceptance
supra0 protest, is determined by the law of the place where such contract was
made.

Provided that

(a)Where a bill is issued out of the United Kingdom it is not invalid by
reason only that it is not stamped in accordance with the law of the place of
issue:

(b)Where a bill, issued out of the United Kingdom, conforms as regards
requisites in form, to the law of the United Kingdom, it may, for the purpose
of enforcing payment thereof, be treated as valid as between all persons who
negotiate, hold, or become parties to it in the United Kingdom.

(2)Subject to the provisions of this Act, the interpretation of the drawing,
indorsement, acceptance, or acceptance supra0 protest of a bill, is determined
by the law of the place where such contract is made.

Provided that where an inland bill is indorsed in a foreign country the
indorsement shall as regards the payer be interpreted according to the law of
the United Kingdom.

(3)The duties of the holder with respect to presentment for acceptance or
payment and the necessity for or sufficiency of a protest or notice of
dishonour, or otherwise, are determined by the law of the place where the act
is done or the bill is dishonoured.

Subs.(4) rep. by 1977 c.38 s.32(4) sch.5 Pt.I

(5)Where a bill is drawn in one country and is payable in another, the due
date thereof is determined according to the law of the place where it is
payable.

Cheque defined.

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Northern Irish Legislation

BILLS OF EXCHANGE ACT 1882 - SECT 72