Housing Development Agency Act, 2008
R 385
Bills of Exchange Act, 1964 (Act No. 34 of 1964)Chapter IBills of exchange - form and interpretation18. Inchoate instruments |
| (1) | If a person places his signature upon a blank paper and delivers such paper to any other person in order that it may be converted into a bill, it operates as a prima facie authority to fill it up as a complete bill for any amount, using the said signature for that of the drawer, the acceptor or an indorser. |
[Sub-section (1) substituted by section 5 of Act 56 of 2000.]
| (2) | If a bill is wanting in any material particular, the person in possession of it has in like manner a prima facie authority to fill up the omission in question in any way he thinks fit. |
| (3) | In order that any instrument referred to in subsection (1) or (2) may, when completed, be enforceable against any person who became a party thereto prior to its completion, it must be filled up within the time agreed on or, if no time is agreed on, within a reasonable time, and strictly in accordance with the authority given: Provided that if any such instrument after completion thereof is negotiated to a holder in due course it shall be valid and effectual for all purposes in his hands, and he may enforce it as if it had been filled up within the time allowed and strictly in accordance with the authority given. |
| (4) | For the purposes of subsection (3) the question what a reasonable time is, is a question of fact. |
