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

Chapter I

Bills of exchange - form and interpretation

9. When a future time is determinable


(1) A bill is payable at a determinable future time within the meaning of this Act, if it is expressed to be payable—
(a) at the expiration of a fixed period after date or sight; or
(b) on, or at the expiration of a fixed period after, the occurrence of a specified event which is certain to happen, though the time of happening may be uncertain.


(2) An instrument expressed to be payable on, or after the occurrence of, a specified event which may or may not happen, is not a bill, and the happening of the event does not cure the defect.