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Bills of Exchange Act, 1964 (Act No. 34 of 1964)

Chapter I

Bills of exchange - form and interpretation

16. Time for acceptance


(1) A bill may be accepted—
(a) before it has been signed by the drawer, or while otherwise incomplete;
(b) when it is overdue, or after it has already been dishonoured by non-acceptance or non-payment.


(2) If a bill payable after sight is dishonoured by non-acceptance, and the drawee subsequently accepts it, the holder is, in the absence of any different agreement, entitled to have the bill accepted as from the date of first presentment thereof to the drawee for acceptance.