In force2020 Revised EditionCurrent version · 2020 Revised EditionSee versions on Singapore Statutes Online(opens the publisher’s site)
Bills of Exchange Act 1949 · 2020 Revised Edition · Part 2 · Bills of Exchange
66. Liability of acceptor for honour
Feedback & support(1)
The acceptor for honour of a bill by accepting it engages that he will, on due presentment, pay the bill according to the tenor of his acceptance, if it is not paid by the drawee, provided it has been duly presented for payment, and protested for non-payment, and that he receives notice of these facts.
(2)
The acceptor for honour is liable to the holder and to all parties to the bill subsequent to the party for whose honour he has accepted.
holder
Defined · s 2
“holder” means the payee or indorsee of a bill or note who is in possession of it, or the bearer thereof;