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Chalmers and Guest on Bills of Exchange, Cheques and Promissory Notes 18th Ed

ISBN13: 9780414034051
New Edition ISBN: 9780414067233
Previous Edition ISBN: 9781847037190
Published: December 2016
Publisher: Sweet & Maxwell Ltd
Country of Publication: UK
Format: Hardback
Price: £352.00

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This 18th edition of Chalmers & Guest provides an annotated guide to the Bills of Exchange Act 1882 and the Cheques Act 1957, and offers legal practitioners comprehensive guidance to the to the law and practice relating to bills of exchange, cheques and promissory notes.

The 18th Edition

1. Offers comprehensive guidance to the to the law and practice relating to bills of exchange, cheques and promissory notes
2. Sets out the relevant legislation, principally the Bills of Exchange Act 1882, section-by-section to explain in detail what the legislation says and to provide opinion and guidance on how to comply with its terms
3. Offers frequent illustrations to describe common situations where a legal problem might arise, i.e. the book presents the reader with a scenario and works through the legal consequences.
4. Deals with the legal capacity to enter into a contract
5. Explains how consideration is required, and how the rules around consideration vary from the normal rules of contract law
6. Covers the ability to transfer a bill from one person to another
7. Goes through the general duties of the holder, such as what a holder must do to fix maturity of the instrument
8. Sets out the liabilities of Parties and answers questions about who has to pay and who can be sued
9. Deals with the effect of discharge and the circumstances where payment is not sufficient to discharge the bill
10. Considers acceptance and payment for honour, addressing the circumstances where the bill isn’t accepted or where the acceptor becomes insolvent
11. Examines what happens when a bill is lost or destroyed
12. Addresses the law where bills are split into parts
13. Explains the applicable rules where the parties to a bill come from different countries
14. Describer what a cheque is and the main exceptions where the Act does not apply to cheques
15. Deals with crossed cheques
16. Looks at the law relating to Promissory Notes rather than orders
17. Goes through a variety of general rules, e.g. good faith, computation of time, signature/company seals, bankruptcy
18. Looks at the protection of bankers paying unindorsed or irregularly indorsed cheques, the rights of bankers collecting cheques not indorsed by holders, and unindorsed cheques as evidence of payment
19. Covers conflict of laws
20. Offers frequent illustrations to describe common situations where a legal problem might arise by presenting a scenario and working through the legal consequences
21. Refers to case law throughout to support statements and guidance
22. Reflects changes introduced by Small Business, Enterprise and Employment Act 2015 on bills of exchange and cheques- specifically related to electronic payment of bill
23. Reflects provisions specific to Northern Ireland
24. Presents a selection of precedent material for use in communications and court proceedings

Banking and Finance


Form and Interpretation
3. Bills of Exchange defined
4. Inland and foreign bills 
5. Effect where different parties to bill are the same person 
6. Address to drawee 
7. Certainty required as to payee 
8. What bills are negotiable 
9.  Sum payable 
10. Bill payable on demand 
11. Bill payable at a future time 
12. Omission of date in payable after date 
13. Ante-dating and post-dating 
14. Computation of time of payment 
15. Case of need 
16. Optional stipulations by drawer of indorser 
17. Definition and requisites of acceptance 
18. Time of acceptance 
19. General and qualified acceptances 
20. Inchoate instruments 
21. Delivery
Capacity and Authority of Parties
22. Capacity of parties 
23. Signature essential to liability 
24. Forged or unauthorised signature 
25. Procuration signatures 
26. Person signing as agent or in a representative capacity 
The Consideration for a Bill
27. Value and holder for value 
28. Accommodation bill or party 
29. Holder in due course 
30. Presumption of value and good faith 
Negotiation of Bills
31. Negotiation of Bill 
32. Requisites of a valid indorsement
33. Conditional indorsement 
34. Indorsement in blank and special indorsement 
35. Restrictive indorsement 
36. Negotiation of overdue or dishonoured bill 
37. Negotiation of bill to party already liable thereon 
38. Rights of the holder 
General Duties of the Holder
39. When presentment for acceptance is necessary 
40. Time for presenting bill payable after sight 
41. Rules as to presentment for acceptance, and excuses for
42. Non-acceptance 
43. Dishonour by non-acceptance, and its consequences 
44. Duties as to qualified acceptances 
45. Rules as to presentment for payment 
46. Excuses for delay or non-presentment for payment 
47. Dishonour by non-payment 
48. Notice of dishonour and effect of non-notice 
49. Rules as to notice of dishonour 
50. Excuses for non-notice and delay 
51. Noting or protest of a bill 
52. Duties of holder as regards drawee or acceptor
Liabilities of Parties
53. Funds in hands of drawee 
54. Liability of acceptor 
55. Liability of drawer or indorser 
56. Stranger signing bill liable as indorser 
57. Measure of damages against parties to dishonoured bill 
58. Transferor by delivery and transferee 
Discharge of Bill
59. Payment in due course 
60. Banker paying demand draft whereon indorsement is
61. Acceptor the holder at maturity 
62. Express waiver 
63. Cancellation 
64. Alteration of bill 
Acceptance and Payment for Honour
65. Acceptance for honour suprà protest 
66. Liability of acceptor for honour 
67. Presentment to acceptor for honour 
68. Payment for honour suprà protest
Lost Instruments
69. Holder’s right to duplicate of lost bill 
70. Action on lost bill 
Bill in a Set
71. Rules as to sets 
Conflict of Laws
72. Rules where laws conflict 

73. Cheque defined 
74. Presentment of cheque for payment 
74A. Presentment of cheque for payment: alternative place of presentment  74B. Presentment of cheque for payment: alternative means of presentment by banker 
74C. Cheques presented for payment under section 
74B:  disapplication of section 52(4) 
75. Revocation of banker’s authority 
75A.Countermanded cheques in Scotland 
Crossed Cheques
76. General and special crossings defined 
77. Crossing by drawer or after issue 
78. Crossing a material part of a cheque 
79. Duties of banker as to crossed cheques 
80. Protection to banker and drawer where cheque is crossed 
81. Effect of crossing on holder 
81A. Non-transferable cheques 
82. Protection to collecting banker 

83. Promissory note defined 
84. Delivery necessary 
85. Joint and several notes 
86. Note payable on demand 
87. Presentment of note for payment 
88. Liability of maker 
89. Application of Part II to notes 

90. Good faith 
91. Signature 
92. Computation of time 
93. When noting equivalent to protest 
94. Protest when notary not accessible 
95. Dividend warrants may be crossed 
96. Repeal 
97. Savings 
98. Saving of summary diligence in Scotland 
99. Construction with other Acts, &c. 
100. Parole evidence allowed in certain judicial proceedings in Scotland
Schedules to the Act I. Form of protest which may be used when the services of a notary cannot be obtained II. Enactments repealed 

1. Protection of bankers paying unindorsed or irregularly indorsed cheques, etc. 
2. Rights of bankers collecting cheques not indorsed by holders 
3. Unindorsed cheques as evidence of payment 
4. Protection of bankers collecting payment of cheques, etc. 
5. Application of certain provisions of Bills and Exchange Act 1882 to instruments not being bills of exchange 
6. Construction, saving and repeal 
7. Provisions as to Northern Ireland 
8. Short title and commencement 
9. Schedule