Special Investigating Units and Special Tribunals Act, 1996
R 385
Bills of Exchange Act, 1964 (Act No. 34 of 1964)Chapter ICapacity and authority of parties24. Signature as agent or in representative capacity |
| (1) | If a person signs a bill as drawer, acceptor or indorser and adds words to his signature indicating that he signs for or on behalf of a principal, or in a representative capacity, or if he signs as drawer and the name of the principal appears with his signature, he is not personally liable thereon: Provided that if such person had in fact no authority to sign for or on behalf of the person indicated as principal, or in a representative capacity, he shall be personally liable on the said bill. |
[Sub-section (1) amended by section 8 of Act 56 of 2000.]
| (2) | In determining whether a signature on a bill is that of a principal or that of the agent by whom it was written, the construction most favourable to the validity of the instrument shall be adopted. |
