Statistics Act, 1999
R 385
Bills of Exchange Act, 1964 (Act No. 34 of 1964)Chapter IBills of exchange - form and interpretation17. General and qualified acceptances |
| (1) | An acceptance is either— |
| (a) | general; or |
| (b) | qualified. |
| (2) |
| (a) | A general acceptance assents without qualification to the order of the drawer. |
| (b) | An acceptance to pay at a particular place shall be deemed to be a general acceptance, unless it expressly states that the bill is to be paid there only and not elsewhere. |
| (3) |
| (a) | A qualified acceptance in express terms varies the effect of the bill as drawn. |
| (b) | In particular an acceptance is qualified if it— |
| (i) | is a conditional acceptance, that is to say, if it makes payment by the acceptor dependent on the fulfilment of a condition therein stated; |
| (ii) | is a partial acceptance, that is to say, an acceptance to pay part only of the amount for which the bill is drawn; |
| (iii) | is an acceptance to pay only at a particular specified place and not elsewhere; |
| (iv) | qualifies the time of payment; |
| (v) | is the acceptance of one or more of the drawees but not of all. |
