Bills of Exchange Act, 1964 (Act No. 34 of 1964)

Chapter I

Purchase

(1)	If a bill is not payable to bearer, the payee must be named or otherwise indicated with reasonable certainty therein.

(2)	A bill may be drawn payable—

(a)	to two or more payees jointly;

(b)	to one of two, or one or some of several, payees, in the alternative; or

(c)	to the holder of an office.

(3)	If the payee is a fictitious or non-existing person, or a person not having capacity to contract, the bill may be treated as payable to bearer.

[Sub-section (3) substituted by section 2 of Act 56 of 2000.]