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

Chapter I

Discharge of bill

62. Effect of alteration of bill or acceptance


(1) If a bill or an acceptance is materially altered the liability of all parties who were parties to the bill at the date of alteration and who did not assent to it, must be regarded as if the alteration had not been made, but any party who has himself made, authorized or assented to the alteration, and all subsequent indorsers are liable on the bill as altered.


(2) For the purposes of subsection (1) material alterations include any alteration of the date, the sum payable, the time of payment and the place of payment, and, if a bill has been accepted generally, the addition of a place of payment without the acceptor's assent.