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

Chapter I

Bills of exchange - form and interpretation

7. Sum payable


(1) The sum payable by a bill is a sum certain in money within the meaning of this Act although it is required to be paid—
(a) with interest;
(b) by stated instalments;
(c) by stated instalments, and upon default in payment of any instalment the whole becomes due by virtue of a provision to that effect in the bill; or
(d) according to a rate of exchange indicated, or to be ascertained as directed, by the bill.


(2) If the sum payable is expressed in words and also in figures, and there is a discrepancy between the two, the sum denoted by the words is the amount payable.


(3) If a bill is expressed to be payable with interest, interest runs, unless the instrument otherwise provides, from the date of the bill or, if it is undated, from the date of issue thereof.