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

Chapter I

Capacity and authority of parties

24. Signature as agent or in representative capacity


(1) If a person signs a bill as drawer, acceptor or indorser and adds words to his signature indicating that he signs for or on behalf of a principal, or in a representative capacity, or if he signs as drawer and the name of the principal appears with his signature, he is not personally liable thereon: Provided that if such person had in fact no authority to sign for or on behalf of the person indicated as principal, or in a representative capacity, he shall be personally liable on the said bill.

[Sub-section (1) amended by section 8 of Act 56 of 2000.]


(2) In determining whether a signature on a bill is that of a principal or that of the agent by whom it was written, the construction most favourable to the validity of the instrument shall be adopted.