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Bills of Exchange Act, RSC 1985, c B-4

  • Short Title
    s. 1
    • 1 Short title
      s. 1
  • Interpretation
    s. 2
    • 2 Definitions
      s. 2
  • PART I — General
    s. 3
    • 3 Thing done in good faith
      s. 3
    • 4 Signature
      s. 4
    • 5 What required of corporation
      s. 5
    • 6(1) Computation of time
      s. 6(1)
    • 6(2) Saturdays
      s. 6(2)
    • 6(3) Cheques
      s. 6(3)
    • 6(4) Where bank not open for business
      s. 6(4)
    • 7 Crossing dividend warrants
      s. 7
    • 8 Bank Act not affected
      s. 8
    • 9 Common law of England
      s. 9
    • 10 Protest evidence
      s. 10
    • 11 Copy of protest, evidence
      s. 11
    • 12 Officer of bank not to act as notary
      s. 12
    • 13(1) Purchase of patent right
      s. 13(1)
    • 13(2) Absence of necessary words
      s. 13(2)
    • 14 Transferee to take with equities
      s. 14
    • 15 Offence and punishment
      s. 15
  • PART II — Bills of Exchange
    s. 16
    • Form and Interpretation of Bill
      s. 16
      • 16(1) Bill of exchange
        s. 16(1)
      • 16(2) Non-compliance with requisites
        s. 16(2)
      • 16(3) Unconditional order
        s. 16(3)
      • 17(1) Instrument payable on contingency
        s. 17(1)
      • 17(2) Addressed to two or more drawees
        s. 17(2)
      • 18(1) Payee, drawer or drawee
        s. 18(1)
      • 18(2) Two or more payees
        s. 18(2)
      • 18(3) Holder of office payee
        s. 18(3)
      • 19 Drawee to be named
        s. 19
      • 20(1) Transfer words
        s. 20(1)
      • 20(2) Negotiable bill
        s. 20(2)
      • 20(3) When payable to bearer
        s. 20(3)
      • 20(4) Certainty of payee
        s. 20(4)
      • 20(5) Fictitious payee
        s. 20(5)
      • 21(1) Bill payable to order
        s. 21(1)
      • 21(2) When payable to person or order
        s. 21(2)
      • 22(1) When payable on demand
        s. 22(1)
      • 22(2) Endorsed when overdue
        s. 22(2)
      • 23 Determinable future time
        s. 23
      • 24(1) Inland bill
        s. 24(1)
      • 24(2) Foreign bill
        s. 24(2)
      • 24(3) Presumption
        s. 24(3)
      • 25 Bill or note
        s. 25
      • 26 Valid bill
        s. 26
      • 27(1) Sum certain
        s. 27(1)
      • 27(2) Figures and words
        s. 27(2)
      • 27(3) With interest
        s. 27(3)
      • 28 True date presumption
        s. 28
      • 29 Undated bill payable after date
        s. 29
      • 30 Perfecting bill
        s. 30
      • 31(1) When completed
        s. 31(1)
      • 31(2) Reasonable time
        s. 31(2)
      • 32(1) Referee in case of need
        s. 32(1)
      • 32(2) Option
        s. 32(2)
      • 33 Stipulations
        s. 33
    • Acceptance
      s. 34
      • 34(1) Acceptance
        s. 34(1)
      • 34(2) Drawee’s name wrong
        s. 34(2)
      • 35(1) Acceptance
        s. 35(1)
      • 35(2) Mere signature
        s. 35(2)
      • 36(1) Acceptance
        s. 36(1)
      • 36(2) Acceptance after dishonour
        s. 36(2)
      • 37(1) Kinds
        s. 37(1)
      • 37(2) General
        s. 37(2)
      • 37(3) Qualified
        s. 37(3)
      • 37(4) Specified place
        s. 37(4)
    • Delivery
      s. 38
      • 38 When acceptance complete
        s. 38
      • 39(1) Requisites
        s. 39(1)
      • 39(2) Presumption
        s. 39(2)
      • 40 Parting with possession
        s. 40
    • Computation of Time, Non-juridical Days and Days of Grace
      s. 41
      • 41 Computation of time
        s. 41
      • 42 Non-juridical days
        s. 42
      • 43 Time of payment
        s. 43
      • 44 Sight bill
        s. 44
      • 45(1) Due date
        s. 45(1)
      • 45(2) Definition of “month”
        s. 45(2)
    • Capacity and Authority of Parties
      s. 46
      • 46(1) Capacity of parties
        s. 46(1)
      • 46(2) Corporations
        s. 46(2)
      • 47 Effect of disability on holder
        s. 47
      • 48(1) Forgery
        s. 48(1)
      • 48(2) Ratification
        s. 48(2)
      • 48(3) Recovery of amount paid on forged cheque
        s. 48(3)
      • 48(4) Default of notice
        s. 48(4)
      • 49(1) Recovery of amount paid on forged endorsement
        s. 49(1)
      • 49(2) Rights against prior endorsers
        s. 49(2)
      • 49(3) Notice of forgery
        s. 49(3)
      • 50 Procuration signatures
        s. 50
      • 51(1) Signing in representative capacity
        s. 51(1)
      • 51(2) Rule for determining capacity
        s. 51(2)
    • Consideration
      s. 52
      • 52(1) Valuable consideration
        s. 52(1)
      • 52(2) Form of bill
        s. 52(2)
      • 53(1) Holder for value
        s. 53(1)
      • 53(2) In case of lien
        s. 53(2)
      • 54(1) Accommodation bill
        s. 54(1)
      • 54(2) Liability of party
        s. 54(2)
    • Holder in Due Course
      s. 55
      • 55(1) Holder in due course
        s. 55(1)
      • 55(2) Title defective
        s. 55(2)
      • 56 Right of subsequent holder
        s. 56
      • 57(1) Presumption of value
        s. 57(1)
      • 57(2) Presumed holder in due course
        s. 57(2)
      • 58 Usurious consideration
        s. 58
    • Negotiation
      s. 59
      • 59(1) By transfer
        s. 59(1)
      • 59(2) By delivery
        s. 59(2)
      • 59(3) By endorsement
        s. 59(3)
      • 60(1) Without endorsement
        s. 60(1)
      • 60(2) Representative capacity
        s. 60(2)
      • 61(1) Endorsing
        s. 61(1)
      • 61(2) Allonge
        s. 61(2)
      • 61(3) Partial endorsement
        s. 61(3)
      • 62(1) Signature sufficient
        s. 62(1)
      • 62(2) Two or more payees
        s. 62(2)
      • 63 Misspelling payee’s name
        s. 63
      • 64 Presumption as to order of endorsement
        s. 64
      • 65 Disregarding condition
        s. 65
      • 66(1) Endorsement
        s. 66(1)
      • 66(2) In blank
        s. 66(2)
      • 66(3) Special
        s. 66(3)
      • 66(4) Application of Act
        s. 66(4)
      • 66(5) Conversion of blank endorsement
        s. 66(5)
      • 67(1) Restrictive endorsement
        s. 67(1)
      • 67(2) Idem
        s. 67(2)
      • 67(3) Rights of endorsee
        s. 67(3)
      • 67(4) If further transfer is authorized
        s. 67(4)
      • 68 When negotiability ceases
        s. 68
      • 69(1) Overdue bill
        s. 69(1)
      • 69(2) When demand bill overdue
        s. 69(2)
      • 69(3) Time
        s. 69(3)
      • 70 Presumption
        s. 70
      • 71 Taking bill with notice of dishonour
        s. 71
      • 72 Reissue of bill
        s. 72
    • Rights and Powers of Holder
      s. 73
      • 73 Rights and powers of holder
        s. 73
    • Presentment for Acceptance
      s. 74
      • 74(1) When presentment for acceptance necessary
        s. 74(1)
      • 74(2) Express stipulation
        s. 74(2)
      • 74(3) Other cases
        s. 74(3)
      • 75 Presentment excused
        s. 75
      • 76(1) Sight bill
        s. 76(1)
      • 76(2) If not presented
        s. 76(2)
      • 76(3) Reasonable time
        s. 76(3)
      • 77 Rules for presenting for acceptance
        s. 77
      • 78(1) Excuses
        s. 78(1)
      • 78(2) No excuse
        s. 78(2)
      • 79(1) Time for acceptance
        s. 79(1)
      • 79(2) Dishonour
        s. 79(2)
      • 79(3) Loss of rights
        s. 79(3)
      • 79(4) Date of acceptance
        s. 79(4)
      • 79(5) Refusing acceptance
        s. 79(5)
      • 80 Dishonour by non-acceptance
        s. 80
      • 81 Recourse
        s. 81
      • 82(1) Qualified acceptance
        s. 82(1)
      • 82(2) Presumption of assent
        s. 82(2)
      • 83(1) Qualified acceptance without authority
        s. 83(1)
      • 83(2) Partial acceptance
        s. 83(2)
    • Presentment for Payment
      s. 84
      • 84(1) Necessity for presentment
        s. 84(1)
      • 84(2) If not presented
        s. 84(2)
      • 84(3) Manner of presentment
        s. 84(3)
      • 85(1) Time for presentment
        s. 85(1)
      • 85(2) Reasonable time
        s. 85(2)
      • 86(1) By and to whom
        s. 86(1)
      • 86(2) Two acceptors
        s. 86(2)
      • 86(3) Personal representation
        s. 86(3)
      • 87 Proper place for presentment
        s. 87
      • 88 Sufficient presentment
        s. 88
      • 89(1) Presentment at post office
        s. 89(1)
      • 89(2) Through post office
        s. 89(2)
      • 90(1) Delay in presentment
        s. 90(1)
      • 90(2) Diligence
        s. 90(2)
      • 91(1) When presentment is dispensed with
        s. 91(1)
      • 91(2) Not dispensed with
        s. 91(2)
      • 92(1) When no place specified
        s. 92(1)
      • 92(2) If place specified
        s. 92(2)
      • 92(3) Delivery on payment
        s. 92(3)
      • 93(1) Time for presentment
        s. 93(1)
      • 93(2) Parties in different places
        s. 93(2)
      • 93(3) Excuses for delay
        s. 93(3)
      • 94(1) Dishonour by non-payment
        s. 94(1)
      • 94(2) Recourse
        s. 94(2)
    • Notice of Dishonour
      s. 95
      • 95(1) Notice of dishonour
        s. 95(1)
      • 95(2) Subsequent holder
        s. 95(2)
      • 95(3) Notice of subsequent dishonour
        s. 95(3)
      • 95(4) Notice to acceptor
        s. 95(4)
      • 96 Conditions for validity of notice
        s. 96
      • 97(1) How notice given
        s. 97(1)
      • 97(2) Misdescription
        s. 97(2)
      • 98(1) Form of notice
        s. 98(1)
      • 98(2) Verbal supplement
        s. 98(2)
      • 99(1) Notice by agent
        s. 99(1)
      • 99(2) Time for notice
        s. 99(2)
      • 100 Notice to antecedent parties
        s. 100
      • 101 Benefit of notice
        s. 101
      • 102(1) How notice addressed
        s. 102(1)
      • 102(2) Sufficiency of notice
        s. 102(2)
      • 102(3) Death of party
        s. 102(3)
      • 103 Miscarriage in post service
        s. 103
      • 104(1) Excuse for delay
        s. 104(1)
      • 104(2) Diligence
        s. 104(2)
      • 105(1) Notice dispensed with
        s. 105(1)
      • 105(2) Time of waiver
        s. 105(2)
      • 106 Dispensing with notice re drawer
        s. 106
      • 107 Dispensing with notice re endorser
        s. 107
    • Protest
      s. 108
      • 108 Necessity of protest
        s. 108
      • 109 Protest dispensed with
        s. 109
      • 110(1) Delay excused
        s. 110(1)
      • 110(2) Diligence
        s. 110(2)
      • 111(1) Foreign bill, non-acceptance
        s. 111(1)
      • 111(2) Non-payment
        s. 111(2)
      • 111(3) Balance
        s. 111(3)
      • 111(4) Discharge
        s. 111(4)
      • 112 Protest of inland bill
        s. 112
      • 113 Protest unnecessary
        s. 113
      • 114 Subsequent protest for non-payment
        s. 114
      • 115 Protest for better security
        s. 115
      • 116(1) Acceptance for honour
        s. 116(1)
      • 116(2) Protest for non-payment
        s. 116(2)
      • 117 Noting equivalent to protest
        s. 117
      • 118(1) Protest on day of dishonour
        s. 118(1)
      • 118(2) Extending protest
        s. 118(2)
      • 119 Protest on copy or particulars
        s. 119
      • 120(1) Place of protest
        s. 120(1)
      • 120(2) Where bill returned by post
        s. 120(2)
      • 120(3) Time of protest
        s. 120(3)
      • 121 Contents of protest
        s. 121
      • 122 When notary not accessible
        s. 122
      • 123(1) Expense
        s. 123(1)
      • 123(2) Notaries’ fees
        s. 123(2)
      • 124(1) Forms
        s. 124(1)
      • 124(2) Annexing copy or original of bill
        s. 124(2)
      • 125 How notice of protest given
        s. 125
    • Liabilities of Parties
      s. 126
      • 126 Equitable assignment
        s. 126
      • 127 Engagement by acceptance
        s. 127
      • 128 Estoppel
        s. 128
      • 129 Drawer
        s. 129
      • 130 Liability by signature
        s. 130
      • 131(1) Trade-name or assumed name
        s. 131(1)
      • 131(2) Firm name
        s. 131(2)
      • 132 Endorser
        s. 132
      • 133 Measure of damages
        s. 133
      • 134 Recovery of damages
        s. 134
      • 135 Re-exchange and interest
        s. 135
      • 136(1) Transferor by delivery
        s. 136(1)
      • 136(2) Liability of transferor
        s. 136(2)
      • 137 Warranty by transferor
        s. 137
    • Discharge of Bill
      s. 138
      • 138(1) Payment
        s. 138(1)
      • 138(2) Payment in due course
        s. 138(2)
      • 138(3) Accommodation bill
        s. 138(3)
      • 139 Payment by drawer or endorser
        s. 139
      • 140 Acceptor holding at maturity
        s. 140
      • 141(1) Renouncing rights
        s. 141(1)
      • 141(2) Against one party
        s. 141(2)
      • 141(3) In writing
        s. 141(3)
      • 141(4) Holder in due course
        s. 141(4)
      • 142(1) Cancellation of bill
        s. 142(1)
      • 142(2) Of any signature
        s. 142(2)
      • 142(3) Discharge of endorser
        s. 142(3)
      • 143 Unintentional cancellation
        s. 143
      • 144(1) Alteration of bill
        s. 144(1)
      • 144(2) Right of holder in due course
        s. 144(2)
      • 145 Material alteration
        s. 145
    • Acceptance and Payment for Honour
      s. 146
      • 146 Acceptance for honour under protest
        s. 146
      • 147 In part
        s. 147
      • 148 Deemed to be for honour of drawer
        s. 148
      • 149 Maturity of after-sight bill
        s. 149
      • 150 Requirements
        s. 150
      • 151(1) Liability of acceptor for honour
        s. 151(1)
      • 151(2) Liability to holder and others
        s. 151(2)
      • 152(1) Payment for honour under protest
        s. 152(1)
      • 152(2) If more than one offer
        s. 152(2)
      • 152(3) Refusal to receive payment
        s. 152(3)
      • 152(4) Entitled to bill
        s. 152(4)
      • 152(5) Liability for refusing
        s. 152(5)
      • 153(1) Attestation of payment for honour
        s. 153(1)
      • 153(2) Declaration
        s. 153(2)
      • 154 Discharge and subrogation
        s. 154
    • Lost Instruments
      s. 155
      • 155(1) Holder to have duplicate of lost bill
        s. 155(1)
      • 155(2) Refusal
        s. 155(2)
      • 156 Action on lost bill
        s. 156
    • Bill in a Set
      s. 157
      • 157(1) Bills in set
        s. 157(1)
      • 157(2) Acceptance
        s. 157(2)
      • 158(1) Endorsing more than one part
        s. 158(1)
      • 158(2) Negotiation to different holders
        s. 158(2)
      • 158(3) Accepting more than one part
        s. 158(3)
      • 158(4) Payments without delivery
        s. 158(4)
      • 158(5) Discharge
        s. 158(5)
    • Conflict of Laws
      s. 159
      • 159(1) Requisites of form
        s. 159(1)
      • 159(2) Unstamped bills
        s. 159(2)
      • 159(3) Conforming to the law of Canada
        s. 159(3)
      • 160 Law applicable
        s. 160
      • 161 Law as to duties of holder
        s. 161
      • 162 Currency
        s. 162
      • 163 Due date
        s. 163
    • Official Images and Electronic Presentment
      s. 163.1
      • 163.1 Definitions
        s. 163.1
      • 163.2 Status of official image
        s. 163.2
      • 163.3(1) Electronic presentment
        s. 163.3(1)
      • 163.3(2) Discharge by payment
        s. 163.3(2)
      • 163.4(1) Presumption
        s. 163.4(1)
      • 163.4(2) Admissibility
        s. 163.4(2)
      • 163.4(3) True copy of contents
        s. 163.4(3)
      • 163.5 Effect of destruction
        s. 163.5
      • 163.6(1) Warranty
        s. 163.6(1)
      • 163.6(2) Damages
        s. 163.6(2)
  • PART III — Cheques on a Bank
    s. 164
    • 164 Definition of “bank”
      s. 164
    • 165(1) Cheque
      s. 165(1)
    • 165(2) Provisions as to bills apply
      s. 165(2)
    • 165(3) Cheque for deposit to account
      s. 165(3)
    • 166(1) Presentment for payment
      s. 166(1)
    • 166(2) Reasonable time
      s. 166(2)
    • 167 Authority to pay
      s. 167
    • Crossed Cheques
      s. 168
      • 168(1) Crossed generally
        s. 168(1)
      • 168(2) Crossed specially
        s. 168(2)
      • 169(1) By drawer
        s. 169(1)
      • 169(2) By holder
        s. 169(2)
      • 169(3) Varying
        s. 169(3)
      • 169(4) Words may be added
        s. 169(4)
      • 169(5) By bank for collection
        s. 169(5)
      • 169(6) Changing crossing
        s. 169(6)
      • 169(7) Uncrossing
        s. 169(7)
      • 170(1) Material part
        s. 170(1)
      • 170(2) Altering crossing
        s. 170(2)
      • 171 Crossed to more than one bank
        s. 171
      • 172(1) Liability for improper payment
        s. 172(1)
      • 172(2) Payment in good faith and without negligence
        s. 172(2)
      • 173 Protection in such case
        s. 173
      • 174 “Not negotiable” cross
        s. 174
      • 175 Customer without title
        s. 175
  • PART IV — Promissory Notes
    s. 176
    • 176(1) Definition
      s. 176(1)
    • 176(2) Endorsed by maker
      s. 176(2)
    • 176(3) Pledge of collateral security
      s. 176(3)
    • 177(1) Inland note
      s. 177(1)
    • 177(2) Foreign note
      s. 177(2)
    • 178 Delivery
      s. 178
    • 179(1) Joint and several liability
      s. 179(1)
    • 179(2) Individual promise
      s. 179(2)
    • 180(1) Demand note presentment
      s. 180(1)
    • 180(2) Reasonable time
      s. 180(2)
    • 181 Endorser discharged
      s. 181
    • 182 Not deemed overdue
      s. 182
    • 183(1) Presentment at particular place
      s. 183(1)
    • 183(2) Liability of maker
      s. 183(2)
    • 183(3) Note payable generally
      s. 183(3)
    • 184(1) Liability of endorser
      s. 184(1)
    • 184(2) Presentment at particular place
      s. 184(2)
    • 184(3) Presentment elsewhere
      s. 184(3)
    • 185 Effect of being maker
      s. 185
    • 186(1) Application of Act to notes
      s. 186(1)
    • 186(2) Terms corresponding
      s. 186(2)
    • 186(3) Provisions inapplicable
      s. 186(3)
    • 187 Protest of foreign notes
      s. 187
  • PART V — Consumer Bills and Notes
    s. 188
    • 188 Definitions
      s. 188
    • 189(1) Consumer bill
      s. 189(1)
    • 189(2) Consumer note
      s. 189(2)
    • 189(3) Presumption as to issue
      s. 189(3)
    • 189(4) Application of Act to consumer bills and notes
      s. 189(4)
    • 190(1) Consumer bill or note to be marked
      s. 190(1)
    • 190(2) Effect where not marked
      s. 190(2)
    • 191 Rights of holder of consumer bill or note
      s. 191
    • 192(1) Obtaining signature to unmarked instrument
      s. 192(1)
    • 192(2) Transfer of unmarked consumer bill or note
      s. 192(2)
  • SCHEDULE
  • FORM 1
  • FORM 2
  • FORM 3
  • FORM 4
  • FORM 5
  • FORM 6
  • FORM 7
  • FORM 8
  • FORM 9
  • FORM 10
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