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

Chapter III

Purchase

(1)	Subject to the provisions of this chapter, and except as by this section provided, the provisions of this Act relating to bills apply with the necessary modifications to notes.

(2)	In applying those provisions the maker of a note shall be deemed to correspond with the acceptor of a bill, and the first indorser of a note shall be deemed to correspond with the drawer of an accepted bill payable to drawer's order.

(3)	The following provisions as to bills do not apply to notes, namely, the provisions relating to—

(a)	presentment for acceptance;

(b)	acceptance; and

(c)	bills in a set.

[Sub-section (3) substituted by section 43 of Act 56 of 2000.]