Friday, October 29, 2010


You will find this section on Pages 21 & 22 of your Bills of Exchange Act 1909. Costs about $10-15 @ Information Victoria 505 Little Collins St.

Can you see the benefit in this section for dealing with presentments?

51 Excuses for delay or non-presentment for payment

  1. Delay in making presentment for payment is excused when the delay is caused by circumstances beyond the control of the holder, and not imputable to his default, misconduct, or negligence. When the cause of delay ceases to operate, presentment must be made with reasonable diligence.

  2. Presentment for payment is dispensed with:

    (a)where, after the exercise of reasonable diligence, presentment, as required by this Act, cannot be effected:

    (b)where the drawee is a fictitious person:

    Who is the bill addressed to, whether it's an infringement notice, or, a telephone bill, credit card bill, or the like? Is your name in ALL CAPS a real or fictional person?

    (c)as regards the drawer, where the drawee or acceptor is not bound, as between himself and the drawer, to accept or pay the bill, and the drawer has no reason to believe that the bill would be paid if presented:

    (d)as regards an indorser, where the bill was accepted or made for the accommodation of that indorser, and he has no reason to expect that the bill would be paid if presented:

    (e) by waiver of presentment, express or implied.


We will start with the Bills of Exchange Act 1909 Part 1-Preliminary 4 Interpretation of terms Page 1

Bill means bill of exchange

The word 'bill of exchange' is not defined in this section, and, as far as I am aware, within this piece of legislation, so we'll consult Butterworths Law Dictionary for further advice.

Bill of Exchange An unconditional order in writing addressed by one person (the 'drawer') to another (the 'drawee') signed by a drawer, requiring the drawee to pay on demand, or at a fixed future time, a sum of money to a specified person or to the bearer: (CTH) Bills of Exchange Act 1909 s8; Levine v Bank of Adelaide (1875) 9 SALR 119. A bill of exchange is a negotiable instrument. See also Acceptor; Accommodation Bill; Draft; Negotiable instrument.

Those of you that are keen can look up those further definitions in Butterworths or Blacks. There is also some Case decisions for any interested parties.

Bills of exchange legislation Legislation regulating bills of exchange. The (CTH) Bills of Exchange Act 1909 governed all bills of exchange, cheques, and promissory notes until 1 July 1987. Since then, it covers only bills of exchange and promissory notes: (CTH) Cheques Act 1986. See also Bill of exchange; Chalmers, Sir Mackenzie Dalzell; Cheque; Law Merchant; Promissory Note.

Upon checking Blacks Law Dictionary 9th Edition for further clarification.

Bill of exchange. See DRAFT (1).

draft, n. (17c) 1. An unconditional written order signed by one person (the drawer) directing another person (the drawee or payor) to pay a certain sum of money on demand or at a definite time to a third person (the payee) or to bearer. * A check is the most common example of a draft. -Also termed bill of exchange; letter of exchange. Cf. NOTE (1). [Cases: Banks and Banking<--137, 189; Bills and Notes <--1-27.]


Indorser The person who transfers a negotiable instrument by writing on it, usually by signing its back, and delivering it to the indorsee: for example (CTH) Bills of Exchange Act 1909 s 4. See also Delivery; Dishonour; Indorsee; Negotiable instrument.


Indorser. (18c) A person who transfers a negotiable instrument by indorsement; specif., one who signs a negotiable instrument other than as a maker, drawer, or acceptor.-Also spelled endorser.

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