16
CurrentBill payable at a future time
Part IIBills of exchange
Division 1Form and interpretation
16 Bill payable at a future time
A bill is payable at a determinable future time within the meaning of this Act which is expressed to be payable:
(a)
at a fixed period after date or sight; or
(b)
on or at a fixed period after the occurrence of a specified event which is certain to happen, though the time of happening may be uncertain.
An instrument expressed to be payable on a contingency is not a bill, and the happening of the event does not cure the defect.
This Act’s bill:Second reading speech
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