Singapore legislation

Section 17

of Bills of Exchange Act 1949

Section 17

Definition and requisites of acceptance

(1)

The acceptance of a bill is the signification by the drawee of his assent to the order of the drawer.

(2)

An acceptance is invalid unless it complies with the following conditions, namely:

(a)

it must be written on the bill and be signed by the drawee; the mere signature of the drawee without additional words is sufficient;

(b)

it must not express that the drawee will perform his promise by any other means than the payment of money.