Bills of Exchange

Link to law: http://rgd.legalaffairs.gov.tt/Laws2/Alphabetical_List/lawspdfs/82.31.pdf

Bills of Exchange
BILLS OF EXCHANGE ACT

CHAPTER 82:31

LAWS OF TRINIDAD AND TOBAGO

Current Authorised Pages
Pages Authorised

(inclusive) by L.R.O.
1–49 ..

L.R.O.

Act
14 of 1884

Amended by
31 of 1907
33 of 1920
18 of 1926
4 of 1933
8 of 1934

36 of 1942
45 of 1979

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Note on Subsidiary Legislation

This Chapter contains no subsidiary legislation.

Note on Adaptation
Under paragraph 6 of the Second Schedule to the Law Revision Act (Ch. 3:03) the Commission
amended certain references to public officers in this Chapter. The Minister’s approval of the
amendments was signified by LN 52/1980, but no marginal reference is made to this Notice
where any such amendment is made in the text.

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Bills of Exchange Chap. 82:31 3

CHAPTER 82:31

BILLS OF EXCHANGE ACT

ARRANGEMENT OF SECTIONS

SECTION

1. Short title.
2. Interpretation.

PART I

BILLS OF EXCHANGE
FORM AND INTERPRETATION

3. Bill of exchange defined.
4. Inland and foreign bills.
5. Effect where different parties to bill are the same person.
6. Address to drawee.
7. Certainty required as to payee.
8. What bills are negotiable.
9. Sum payable.

10. Bill payable on demand.
11. Bill payable at a future time.
12. Omission of date in bill payable after date.
13. Antedating and post-dating.
14. Computation of time of payment.
15. Case of need.
16. Optional stipulations by drawer or indorser.
17. Definition and requisites of acceptance.
18. Time of acceptance.
19. General and qualified acceptances.
20. Inchoate instruments.
21. Delivery.

CAPACITY AND AUTHORITY OF PARTIES

22. Capacity of parties.
23. Signature essential to liability.
24. Forged or unauthorised signature.

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25. Procuration signatures.
26. Person signing as agent or in representative capacity.

THE CONSIDERATION FOR A BILL

27. Value and holder for value.
28. Accommodation bill or party.
29. Holder in due course.
30. Presumption of value and good faith.

NEGOTIATION OF BILLS

31. Negotiation of bill.
32. Requisites of a valid indorsement.
33. Conditional indorsement.
34. Indorsement in blank and special indorsement.
35. Restrictive indorsement.
36. Negotiation of overdue or dishonoured bill.
37. Negotiation of bill to party already liable thereon.
38. Rights of the holder.

GENERAL DUTIES OF THE HOLDER

39. When presentment for acceptance is necessary.
40. Time for presenting bill payable after sight.
41. Rules as to presentment for acceptance, and excuses for

non-presentment.
42. Non-acceptance.
43. Dishonour by non-acceptance and its consequences.
44. Duties as to qualified acceptances.
45. Rules as to presentment for payment.
46. Excuses for delay or non-presentment for payment.
47. Dishonour by non-payment.
48. Notice of dishonour and effect of non-notice.
49. Rules as to notice of dishonour.
50. Excuses for non-notice and delay.
51. Noting or protest of bill.
52. Duties of holder as regards drawee or acceptor.

ARRANGEMENT OF SECTIONS—Continued
SECTION

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LIABILITIES OF PARTIES

53. Bill not assignment of funds in hands of drawee.
54. Liability of acceptor.
55. Liability of drawer or indorser.
56. Stranger signing bill liable as indorser.
57. Measure of damages against parties to dishonoured bill.
58. Transferor by delivery and transferee.

DISCHARGE OF BILL

59. Payment in due course.
60. Banker paying demand draft whereon indorsement is forged.
61. Acceptor the holder at maturity.
62. Express waiver.
63. Cancellation.
64. Alteration of bill.

ACCEPTANCE AND PAYMENT FOR HONOUR

65. Acceptance for honour supra protest.
66. Liability of acceptor for honour.
67. Presentment to acceptor for honour.
68. Payment for honour supra protest.

LOST INSTRUMENTS

69. Holder’s right to duplicate of lost bill.
70. Action on lost bill.

BILL IN A SET

71. Rules as to sets.

CONFLICT OF LAWS

72. Rules where laws conflict.

PART II

CHEQUES ON A BANKER
73. Cheque defined.
74. Presentment of cheque for payment.
75. Revocation of banker’s authority.

SECTION

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ARRANGEMENT OF SECTIONS—Continued
SECTION

CROSSED CHEQUES
76. General and special crossings defined.
77. Crossing by drawer or after issue.
78. Crossing, a material part of cheque.
79. Duties of banker as to crossed cheques.

Protection to banker and drawer where cheque is crossed.
80. Protection to collecting banker.
81. Effect of words “not negotiable”.
82. Cheques drawn on a bank by itself.

PART III

PROMISSORY NOTES
83. Promissory note defined.
84. Delivery necessary.
85. Joint and several notes.
86. Note payable on demand.
87. Presentment of note for payment.
88. Liability of maker.
89. Application of Part I to notes.

PART IV

SUPPLEMENTARY
90. Good faith.
91. Signature.
92. Computation of time for act due to be done on non-business days.
93. When noting equivalent to protest.
94. Protest when Notary not accessible.
95. What signatures to be attested.
96. Savings.

SCHEDULE.

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Bills of Exchange Chap. 82:31 7

CHAPTER 82:31

BILLS OF EXCHANGE ACT

An Act relating to Bills of Exchange, Cheques, and
Promissory Notes.

[13TH SEPTEMBER 1884]

1. This Act may be cited as the Bills of Exchange Act.

2. In this Act—
“acceptance” means an acceptance completed by delivery

or notification;
“action” includes counter-claim and set-off;
“banker” includes a body of persons whether incorporated or not

who carry on the business of banking;
“bankrupt” includes any person whose estate is vested in a trustee

or assignee under the law for the time being in force relating
to bankruptcy;

“bearer” means the person in possession of a bill or note which
is payable to bearer;

“bill” means bill of exchange;
“delivery” means transfer of possession, actual or constructive,

from one person to another;
“holder” means the payee or indorsee of a bill or note who is in

possession of it, or the bearer thereof;
“indorsement” means an indorsement completed by delivery;
“issue” means the first delivery of a bill or note complete in form

to a person who takes it as a holder;
“note” means promissory note;
“value” means valuable consideration.

PART I

BILLS OF EXCHANGE
FORM AND INTERPRETATION

3. (1) A bill of exchange is an unconditional order in writing,
addressed by one person to another, signed by the person giving it,

1950 Ed.
Ch. 31 No. 5.
14 of 1884.

Commencement.

Short title.

Interpretation.

Bill of exchange
defined.

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8 Chap. 82:31 Bills of Exchange

requiring the person to whom it is addressed to pay on demand, or
at a fixed or determinable future time, a sum certain in money to,
or to the order of, a specified person, or to bearer.

(2) An instrument which does not comply with these
conditions, or which orders any act to be done in addition to the
payment of money, is not a bill of exchange.

(3) An order to pay out of a particular fund is not
unconditional within the meaning of this section; but an unqualified
order to pay, coupled with (a) an indication of a particular fund
out of which the drawee is to reimburse himself or a particular
account to be debited with the amount, or (b) a statement of the
transaction which gives rise to the bill, is unconditional.

(4) A bill is not invalid by reason—
(a) that it is not dated;
(b) that it does not specify the value given, or that

any value has been given therefor;
(c) that it does not specify the place where it is drawn

or the place where it is payable.

4. (1) An inland bill is a bill which is or on the face of it
purports to be (a) both drawn and payable within Trinidad and
Tobago, or (b) drawn within Trinidad and Tobago upon some person
resident therein. Any other bill is a foreign bill.

(2) Unless the contrary appear on the face of the bill the
holder may treat it as an inland bill.

5. (1) A bill may be drawn payable to, or to the order of, the
drawer, or it may be drawn payable to, or to the order of, the drawee.

(2) Where in a bill drawer and drawee are the same person,
or where the drawee is a fictitious person or a person not having
capacity to contract, the holder may treat the instrument, at his
option, either as a bill of exchange or as a promissory note.

6. (1) The drawee must be named or otherwise indicated in
a bill with reasonable certainty.

Inland and
foreign bills.

Effect where
different parties
to bill are the
same person.

Address to
drawee.

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(2) A bill may be addressed to two or more drawees
whether they are partners or not, but an order addressed to two
drawees in the alternative or to two or more drawees in succession
is not a bill of exchange.

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

(2) A bill may be made payable to two or more payees
jointly, or it may be made payable in the alternative to one of two,
or one or some of several payees. A bill may also be made payable
to the holder of an office for the time being.

(3) Where the payee is a fictitious or non-existing person
the bill may be treated as payable to bearer.

8. (1) When a bill contains words prohibiting transfer, or
indicating an intention that it should not be transferable, it is valid
as between the parties thereto, but is not negotiable.

(2) A negotiable bill may be payable either to order or
to bearer.

(3) A bill is payable to bearer which is expressed to be so
payable, or on which the only or last indorsement is an indorsement
in blank.

(4) A bill is payable to order which is expressed to be so
payable, or which is expressed to be payable to a particular person,
and does not contain words prohibiting transfer or indicating an
intention that it should not be transferable.

(5) Where a bill, either originally or by indorsement, is
expressed to be payable to the order of a specified person, and not
to him or his order, it is nevertheless payable to him or his order at
his option.

9. (1) The sum payable by a bill is a sum certain within the
meaning of this Act, although it is required to be paid—

(a) with interest;
(b) by stated instalments;

Certainty
required as
to payee.

What bills are
negotiable.

Sum payable.

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(c) by stated instalments, with a provision that upon
default in payment of any instalment the whole
shall become due;

(d) according to an indicated rate of exchange or
according to a rate of exchange to be ascertained
as directed by the bill.

(2) Where the sum payable is expressed in words and also
in figures, and there is a discrepancy between the two, the sum
denoted by the words is the amount payable.

(3) Where a bill is expressed to be payable with interest,
unless the instrument otherwise provides, interest runs from the
date of the bill, and if the bill is undated from the issue thereof.

10. (1) A bill is payable on demand—
(a) which is expressed to be payable on demand, or

at sight, or on presentation; or
(b) in which no time for payment is expressed.

(2) Where a bill is accepted or indorsed when it is overdue,
it shall, as regards the acceptor who so accepts, or any indorser
who so indorses it, be deemed a bill payable on demand.

11. A bill is payable at a determinable future time within the
meaning of this Act which is expressed to be payable—

(a) at a fixed period after date or sight;
(b) on or at a fixed period after the occurrence of a

specified event which is certain to happen, though
the time of happening may be uncertain.

An instrument expressed to be payable on a contingency is not
a bill, and the happening of the event does not cure the defect.

12. Where a bill expressed to be payable at a fixed period after
date is issued undated, or where the acceptance of a bill payable at
a fixed period after sight is undated, any holder may insert therein
the true date of issue or acceptance and the bill shall be payable
accordingly; but (a) where the holder in good faith and by mistake

Bill payable
on demand.

Bill payable at a
future time.

Omission of
date in bill
payable after
date.

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inserts a wrong date, and (b) in every case where a wrong date is
inserted, if the bill subsequently comes into the hands of a holder
in due course, the bill shall not be avoided thereby, but shall operate
and be payable as if the date so inserted had been the true date.

13. (1) Where a bill or an acceptance or any indorsement on
a bill is dated, the date shall, unless the contrary be proved, be
deemed to be the true date of the drawing, acceptance, or
indorsement, as the case may be.

(2) A bill is not invalid by reason only that it is antedated
or post-dated, or that it bears date on a Sunday.

14. (1) Where a bill is not payable on demand, the bill is
payable on the last day of the time of payment as fixed by the bill
or, if that is a non-business day, on the succeeding business day.

(2) Subsection (1) shall apply only to bills and notes made
after the date on which that subsection comes into force and the
time of payment of bills and notes made before that date shall
continue to be determined by the provisions of this Act in force
immediately before that date.

(3) If the President so declares by Order, subsection (2)
shall cease to have effect as from such date as may be specified in
the Order.

(4) Where a bill is payable at a fixed period after date,
after sight or after the happening of a specified event, the time of
payment is determined by excluding the day from which the time
is to begin to run and by including the day of payment.

(5) Where a bill is payable at a fixed period after sight,
the time begins to run from the date of the acceptance if the bill be
accepted, and from the date of noting or protest if the bill be noted
or protested for non-acceptance, or for non-delivery.

(6) The term “month” in a bill means calendar month.

15. The drawer of a bill and any indorser may insert therein
the name of a person to whom the holder may resort in case of

Antedating and
post-dating.

Computation
of time of
payment.
[45 of 1979].

Case of need.

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need, that is to say, in case the bill is dishonoured by non-acceptance
or non-payment. Such person is called the referee in case of need.
It is in the option of the holder to resort to the referee in case of
need or not as he may think fit.

16. The drawer of a bill, and any indorser, may insert therein
an express stipulation—

(a) negativing or limiting his own liability to
the holder;

(b) waiving as regards himself some or all of the
holder’s duties.

17. (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:

(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.

18. A bill may be accepted—
(a) before it has been signed by the drawer, or while

otherwise incomplete;
(b) when it is overdue, or after it has been

dishonoured by a previous refusal to accept, or
by non-payment;

(c) when a bill payable after sight is dishonoured by
non-acceptance, and the drawee subsequently
accepts it, the holder, in the absence of any
different agreement, is entitled to have the bill
accepted as of the date of first presentment to the
drawee for acceptance.

19. (1) An acceptance is either (a) general or (b) qualified.

Optional
stipulations by
drawer or
indorser.

Definition and
requisites of
acceptance.

Time of
acceptance.

General and
qualified
acceptances.

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(2) A general acceptance assents without qualification to
the order of the drawer. A qualified acceptance in express terms
varies the effect of the bill as drawn.

In particular an acceptance is qualified which is—
(a) conditional, that is to say, which makes payment

by the acceptor dependent on the fulfilment of a
condition therein stated;

(b) partial, that is to say, an acceptance to pay part
only of the amount for which the bill is drawn;

(c) local, that is to say, an acceptance to pay only at a
particular specified place; an acceptance to pay
at a particular place is a general acceptance, unless
it expressly states that the bill is to be paid there
only and not elsewhere;

(d) qualified as to time;
(e) the acceptance of some one or more of the

drawees, but not of all.

20. (1) Where a simple signature on a blank paper defining
an amount not to be exceeded is delivered by the signer in order
that it may be converted into a bill, it operates as a prima facie
authority to fill it up as a complete bill for any amount not exceeding
the defined limit, using the signature for that of the drawer, or the
acceptor, or an indorser; and, in like manner, when a bill is wanting
in any material particular, the person in possession of it has a prima
facie authority to fill up the omission in any way he thinks fit.

(2) In order that any such instrument when completed may
be enforceable against any person who became a party thereto prior
to its completion, it must be filled up within a reasonable time,
and strictly in accordance with the authority given. Reasonable
time for this purpose is a question of fact. However, if any such
instrument after completion is negotiated to a holder in due course
it shall be valid and effectual for all purposes in his hands, and he
may enforce it as if it had been filled up within a reasonable time
and strictly in accordance with the authority given.

Inchoate
instruments.

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21. (1) Every contract on a bill, whether it be the drawer’s,
the acceptor’s, or an indorser’s, is incomplete and revocable, until
delivery of the instrument in order to give effect thereto; but
where an acceptance is written on a bill, and the drawee gives
notice to or according to the directions of the persons entitled to
the bill that he has accepted it, the acceptance then becomes
complete and irrevocable.

(2) As between immediate parties, and as regards a remote
party other than a holder in due course, the delivery—

(a) in order to be effectual must be made either by or
under the authority of the party drawing, accepting
or indorsing, as the case may be;

(b) may be shown to have been conditional or for a
special purpose only, and not for the purpose of
transferring the property in the bill.

But if the bill be in the hands of a holder in due course, a valid
delivery of the bill by all parties prior to him so as to make them
liable to him is conclusively presumed.

(3) Where a bill is no longer in the possession of a party
who has signed it as drawer, acceptor, or indorser, a valid and
unconditional delivery by him is presumed until the contrary
is proved.

CAPACITY AND AUTHORITY OF PARTIES

22. (1) Capacity to incur liability as a party to a bill is co-
extensive with capacity to contract.

However, nothing in this section shall enable a corporation to
make itself liable as drawer, acceptor or indorser of a bill unless it
is competent to do so under the law for the time being in force
relating to corporations.

(2) Where a bill is drawn or indorsed by an infant, minor
or corporation having no capacity or power to incur liability on a
bill, the drawing or indorsement entitles the holder to receive
payment of the bill, and to enforce it against any other party thereto.

Delivery.

Capacity of
parties.

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23. No person is liable as drawer, indorser or acceptor of a
bill who has not signed it as such.

However—
(a) where a person signs a bill in a trade or assumed

name, he is liable thereon as if he had signed it in
his own name;

(b) the signature of the name of a firm is equivalent
to the signature by the person so signing of the
names of all persons liable as partners in that firm.

24. Subject to this Act, where a signature on a bill is forged or
placed thereon without the authority of the person whose signature
it purports to be, the forged or unauthorised signature is wholly
inoperative, and no right to retain the bill or to give a discharge
therefor or to enforce payment thereof against any party thereto
can be acquired through or under that signature, unless the party
against whom it is sought to retain or enforce payment of the bill
is precluded from setting up the forgery or want of authority.

Nothing in this section shall affect the ratification of an
unauthorised signature not amounting to a forgery.

25. A signature by procuration operates as notice that the agent
has but a limited authority to sign, and the principal is only bound
by such signature if the agent in so signing was acting within the
actual limits of his authority.

26. (1) Where a person signs a bill as drawer, indorser or
acceptor, and adds words to his signature, indicating that he
signs for or on behalf of a principal, or in a representative
character, he is not personally liable thereon; but the mere
addition to his signature of words describing him as an agent, or as
filling a representative character, does not exempt him from
personal liability.

(2) In determining whether a signature on a bill is that
of the principal or that of the agent by whose hand it is written, the
construction most favourable to the validity of the instrument
shall be adopted.

Signature
essential to
liability.

Forged or
unauthorised
signature.

Procuration
signatures.

Person signing
as agent or in
representative
capacity.

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THE CONSIDERATION FOR A BILL

27. (1) Valuable consideration for a bill may be constituted by—
(a) any consideration sufficient to support a

simple contract;
(b) an antecedent debt or liability. Such a debt or

liability is deemed valuable consideration whether
the bill is payable on demand or at a future time.

(2) Where value has at any time been given for a bill, the
holder is deemed to be a holder for value as regards the acceptor
and all parties to the bill who became parties prior to such time.

(3) Where the holder of a bill has a lien on it, arising either
from contract or by implication of law, he is deemed to be a holder
for value to the extent of the sum for which he has a lien.

28. (1) An accommodation party to a bill is a person who has
signed a bill as a drawer, acceptor or indorser, without receiving
value therefor, and for the purpose of lending his name to some
other person.

(2) An accommodation party is liable on the bill to a
holder for value; and it is immaterial whether, when such holder
took the bill, he knew such party to be an accommodation
party or not.

29. (1) A holder in due course is a holder who has taken a
bill, complete and regular on the face of it, under the following
conditions:

(a) that he became the holder of it before it was
overdue, and without notice that it had been
previously dishonoured, if such was the fact;

(b) that he took the bill in good faith and for value,
and that at the time the bill was negotiated to him
he had no notice of any defect in the title of the
person who negotiated it.

(2) In particular the title of a person who negotiates a bill
is defective within the meaning of this Act when he obtained the

Value and
holder for value.

Accommodation
bill or party.

Holder in
due course.

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bill, or the acceptance thereof, by fraud, duress, or force and fear,
or other unlawful means, or for an illegal consideration, or when
he negotiates it in breach of faith, or under such circumstances as
amount to a fraud.

(3) A holder (whether for value or not) who derives his
title to a bill through a holder in due course, and who is not himself
a party to any fraud or illegality affecting it, has all the rights of
that holder in due course as regards the acceptor and all parties to
the bill prior to that holder.

30. (1) Every party whose signature appears on a bill is
prima facie deemed to have become a party thereto for value.

(2) Every holder of a bill is prima facie deemed to be a
holder in due course; but if in an action on a bill it is admitted or
proved that the acceptance, issue, or subsequent negotiation of the
bill is affected with fraud, duress, or force and fear, or illegality,
the burden of proof is shifted, unless and until the holder proves
that, subsequent to the alleged fraud or illegality, value has in good
faith been given for the bill.

NEGOTIATION OF BILLS

31. (1) A bill is negotiated when it is transferred from one
person to another in such a manner as to constitute the transferee
the holder of the bill.

(2) A bill payable to bearer is negotiated by delivery.

(3) A bill payable to order is negotiated by the indorsement
of the holder completed by delivery.

(4) Where the holder of a bill payable to his order transfers
it for value without indorsing it, the transfer gives the transferee
such title as the transferor had in the bill, and the transferee in
addition acquires the right to have the indorsement of the transferor.

(5) Where any person is under obligation to indorse a bill
in a representative capacity, he may indorse the bill in such terms
as to negative personal liability.

Presumption
of value and
good faith.

Negotiation
of bill.

UNOFFICIAL VERSION


UPDATED TO DECEMBER 31ST 2014

MINISTRY OF LEGAL AFFAIRS www.legalaffairs.gov.tt

LAWS OF TRINIDAD AND TOBAGO

18 Chap. 82:31 Bills of Exchange

32. An indorsement in order to operate as a negotiation must
comply with the following conditions:

(a) it must be written on the bill itself and be signed
by the indorser; the simple signature of the
indorser on the bill, without additional words, is
sufficient; an indorsement written on an allonge,
or on a “copy” of a bill issued or negotiated in a
country where “copies” are recognised, is deemed
to be written on the bill itself;

(b) it must be an indorsement of the entire bill; a
partial indorsement, that is to say, an indorsement
that purports to transfer to the indorsee a part only
of the amount payable, or that purports to transfer
the bill to two or more indorsees severally, does
not operate as a negotiation of the bill;

(c) where a bill is payable to the order of two or more
payees or indorsees who are not partners, all must
indorse, unless the one indorsing has authority to
indorse for the others;

(d) where, in a bill payable to order, the payee or
indorsee is wrongly designated, or his name is
misspelt, he may indorse the bill as therein
described, adding, if he thinks fit, his proper
signature;

(e) where there are two or more indorsements on a
bill, each indorsement is deemed to have been
made in the order in which it appears on the bill,
until the contrary is proved;

(f) an indorsement may be made in blank or special;
it may also contain terms making it restrictive.

33. Where a bill purports to be indorsed conditionally, the
condition may be disregarded by the payer, and payment to the
indorsee is valid whether the condition has been fulfilled or not.

34. (1) An indorsement in blank specifies no indorsee, and a
bill so indorsed becomes payable to bearer.

Requisites of
a valid
indorsement.

Conditional
indorsement.

Indorsement in
blank and
special
indorsement.

UNOFFICIAL VERSION


UPDATED TO DECEMBER 31ST 2014

MINISTRY OF LEGAL AFFAIRS www.legalaffairs.gov.tt

L.R.O.

LAWS OF TRINIDAD AND TOBAGO

Bills of Exchange Chap. 82:31 19

(2) A special indorsement specifies the person to whom,
or to whose order, the bill is to be payable.

(3) The provisions of this Act relating to a payee apply
with the necessary modifications to an indorsee under a special
indorsement.

(4) When a bill has been indorsed in blank, any holder
may convert the blank indorsement into a special indorsement by
writing above the indorser’ s signature a direction to pay the bill to
or to the order of himself or some other person.

35. (1) An indorsement is restrictive which prohibits the
further negotiation of the bill or which expresses that it is a mere
authority to deal with the bill as thereby directed and not a transfer
of the ownership thereof, as, for example, if a bill be indorsed
“Pay D. only,” or “Pay D. for the account of X.,” or “Pay D. or
order for collection.”

(2) A restrictive indorsement gives the indorsee the right
to receive payment of the bill and to sue any party thereto that his
indorser could have sued, but gives him no power to transfer his
rights as indorsee unless it expressly authorises him to do so.

(3) Where a restrictive indorsement authorises further
transfer, all subsequent indorsees take the bill with the same rights
and subject to the same liabilities as the first indorsee under the
restrictive indorsement.

36. (1) Where a bill is negotiable in its origin, it continues
to be negotiable until it has been (a) restrictively indorsed or
(b) discharged by payment or otherwise.

(2) Where an overdue bill is negotiated, it can only be
negotiated subject to any defect of title affecting it at its maturity,
and thenceforward no person who takes it can acquire or give a
better title than that which the person from whom he took it had.

(3) A bill payable on demand is deemed to be overdue
within the meaning and for the purposes of this section, when it
appears on the face of it to have been in circulation for an

Restrictive
indorsement.

Negotiation of
overdue or
dishonoured
bill.

UNOFFICIAL VERSION


UPDATED TO DECEMBER 31ST 2014

MINISTRY OF LEGAL AFFAIRS www.legalaffairs.gov.tt

LAWS OF TRINIDAD AND TOBAGO

20 Chap. 82:31 Bills of Exchange

unreasonable length of time. What is an unreasonable length of
time for this purpose is a question of fact.

(4) Except where an indorsement bears date after the
maturity of the bill, every negotiation is prima facie deemed to
have been effected before the bill was overdue.

(5) Where a bill which is not overdue has been
dishonoured, any person who takes it with notice of the dishonour
takes it subject to any defect of title attaching thereto at the time of
dishonour, but nothing in this subsection shall affect the rights of a
holder in due course.

37. Where a bill is negotiated back to the drawer, or to a prior
indorser, or to the acceptor, such party may, subject to this Act, re-
issue and further negotiate the bill, but he is not entitled to enforce
payment of the bill against any intervening party to whom he was
previously liable.

38. The rights and powers of the holder of a bill are as follows:
(a) he may sue on the bill in his own name;
(b) where he is a holder in due course, he holds the

bill free from any defect of title of prior parties,
as well as from mere personal defences
available to prior parties among themselves, and
may enforce payment against all parties liable
on the bill;

(c) where his title is defective (i) if he negotiates the
bill to a holder in due course, that holder obtains
a good and complete title to the bill, and (ii) if he
obtains payment of the bill, the person who pays
him in due course gets a valid discharge for
the bill.

GENERAL DUTIES OF THE HOLDER

39. (1) Where a bill is payable after sight, presentment
for acceptance is necessary in order to fix the maturity of
the instrument.

Negotiation of
bill to party
already liable
thereon.

Rights of
the holder.

When
presentment for
acceptance is
necessary.

UNOFFICIAL VERSION


UPDATED TO DECEMBER 31ST 2014

MINISTRY OF LEGAL AFFAIRS www.legalaffairs.gov.tt

L.R.O.

LAWS OF TRINIDAD AND TOBAGO

Bills of Exchange Chap. 82:31 21

(2) Where a bill expressly stipulates that it shall be
presented for acceptance, or where a bill is drawn payable elsewhere
than at the residence or place of business of the drawee, it must be
presented for acceptance before it can be presented for payment.

(3) In no other case is presentment for acceptance
necessary in order to render liable any party to the bill.

(4) Where the holder of a bill, drawn payable elsewhere
than at the place of business or residence of the drawee, has not
time, with the exercise of reasonable diligence, to present the bill
for acceptance before presenting it for payment on the day that it
falls due, the delay caused by presenting the bill for acceptance
before presenting it for payment is excused, and does not discharge
the drawer and indorsers.

40. (1) Subject to this Act, when a bill payable after sight is
negotiated, the holder must either present it for acceptance or
negotiate it within a reasonable time.

(2) If he does not do so, the drawer and all indorsers prior
to that holder are discharged.

(3) In determining what is a reasonable time within the
meaning of this section, regard shall be had to the nature of the
bill, the usage of trade with respect to similar bills, and the facts of
the particular case.

41. (1) A bill is duly presented for acceptance which is
presented in accordance with the following rules:

(a) the presentment must be made by or on behalf of
the holder to the drawee or to some person
authorised to accept or refuse acceptance on his
behalf at a reasonable hour on a business day and
before the bill is overdue;

(b) where a bill is addressed to two or more drawees,
who are not partners, presentment must be made
to them all, unless one has authority to accept for
all, then presentment may be made to him only;

Time for
presenting bill
payable
after sight.

Rules as to
presentment for
acceptance, and
excuses for non-
presentment.

UNOFFICIAL VERSION


UPDATED TO DECEMBER 31ST 2014

MINISTRY OF LEGAL AFFAIRS www.legalaffairs.gov.tt

LAWS OF TRINIDAD AND TOBAGO

22 Chap. 82:31 Bills of Exchange

(c) where the drawee is dead, presentment may be
made to his personal representative;

(d) where the drawee is bankrupt, presentment may
be made to him or to his trustee;

(e) where authorised by agreement or usage, a
presentment through the Post Office is sufficient.

(2) Presentment in accordance with these rules is excused,
and a bill may be treated as dishonoured by non-acceptance—

(a) where the drawee is dead, or bankrupt, or is a
fictitious person or a person not having capacity
to contract by bill;

(b) where, after the exercise of reasonable diligence,
such presentment cannot be effected;

(c) where, although the presentment has been
irregular, acceptance has been refused on some
other ground.

(3) The fact that the holder has reason to believe that
the bill, on presentment, will be dishonoured does not
excuse presentment.

42. When a bill is duly presented for acceptance, and is not
accepted within the customary time, the person presenting it must
treat it as dishonoured by non-acceptance. If he does not, the holder
shall lose his right of recourse against the drawer and indorsers.

43. (1) A bill is dishonoured by non-acceptance—
(a) when it is duly presented for acceptance, and such

an acceptance as is prescribed by this Act is
refused or cannot be obtained; or

(b) when presentment for acceptance is excused and
the bill is not accepted.

(2) Subject to this Act, when a bill is dishonoured by
non-acceptance, an immediate right of recourse against the drawer
and indorsers accrues to the holder, and no presentment for payment
is necessary.

Non-acceptance.

Dishonour by
non-acceptance
and its
consequences.

UNOFFICIAL VERSION


UPDATED TO DECEMBER 31ST 2014

MINISTRY OF LEGAL AFFAIRS www.legalaffairs.gov.tt

L.R.O.

LAWS OF TRINIDAD AND TOBAGO

Bills of Exchange Chap. 82:31 23

44. (1) The holder of a bill may refuse to take a qualified
acceptance, and, if he does not obtain an unqualified acceptance,
may treat the bill as dishonoured by non-acceptance.

(2) Where a qualified acceptance is taken, and the drawer
or an indorser has not expressly or impliedly authorised the holder
to take a qualified acceptance or does not subsequently assent
thereto, such drawer or indorser is discharged from his liability
on the bill.

This subsection does not apply to a partial acceptance, whereof
due notice has been given. Where a foreign bill has been accepted
as to part, it must be protested as to the balance.

(3) When the drawer or indorser of a bill receives notice
of a qualified acceptance, and does not, within a reasonable time,
express his dissent to the holder, he shall be deemed to have
assented thereto.

45. Subject to this Act, a bill must be duly presented for
payment. If it is not so presented, the drawer and indorsers shall
be discharged.

A bill is duly presented for payment which is presented in
accordance with the following rules:

(a) where the bill is not payable on demand,
presentment must be made on the day it falls due;

(b) where the bill is payable on demand, then, subject
to this Act, presentment must be made within a
reasonable time after its issue in order to render
the drawer liable, and within a reasonable time
after its indorsement, in order to render the
indorser liable; in determining what is a
reasonable time, regard shall be had to the nature
of the bill, the usage of trade with regard to similar
bills, and the facts of the particular case;

(c) presentment must be made by the holder or by
some person authorised to receive payment on
his behalf at a reasonable hour on a business day,

Duties as to
qualified
acceptances.

Rules as to
presentment for
payment.

UNOFFICIAL VERSION


UPDATED TO DECEMBER 31ST 2014

MINISTRY OF LEGAL AFFAIRS www.legalaffairs.gov.tt

LAWS OF TRINIDAD AND TOBAGO

24 Chap. 82:31 Bills of Exchange

at the proper place as defined below, either to the
person designated by the bill as payer, or to some
person authorised to pay or refuse payment on
his behalf, if with the exercise of reasonable
diligence such person can there be found;

(d) a bill is presented at the proper place—
(i) where a place of payment is specified in

the bill and the bill is there presented;
(ii) where no place of payment is specified,

but the address of the drawee or
acceptor is given in the bill, and the bill is
there presented;

(iii) where no place of payment is specified, and
no address given, and the bill is presented
at the drawee’s or acceptor’s place of
business if known, and if not, at his
ordinary residence if known;

(iv) in any other case, if presented to the drawee
or acceptor wherever he can be found, or if
presented at his last known place of
business or residence;

(e) where a bill is presented at the proper place, and,
after the exercise of reasonable diligence, no
person authorised to pay or refuse payment can
be found there, no further presentment to the
drawee or acceptor is required;

(f) where a bill is drawn upon, or accepted by two
or more persons who are not partners, and no place
of payment is specified, presentment must be
made to them all;

(g) where the drawee or acceptor of a bill is dead,
and no place of payment is specified, presentment
must be made to a personal representative, if such
there be, and, with the exercise of reasonable
diligence he can be found;

UNOFFICIAL VERSION


UPDATED TO DECEMBER 31ST 2014

MINISTRY OF LEGAL AFFAIRS www.legalaffairs.gov.tt

L.R.O.

LAWS OF TRINIDAD AND TOBAGO

Bills of Exchange Chap. 82:31 25

Excuses for
delay or non-
presentment for
payment.

Dishonour by
non-payment.

Notice of
dishonour and
effect of
non-notice.

(h) where authorised by agreement or usage, a
presentment through the Post Office is sufficient.

46. (1) Delay in making presentment for payment is excused
when the delay is caused by circumstances beyond the control of
the holder, and not imputable to his default, misconduct or
negligence. When the cause of delay ceases to operate, presentment
must be made with reasonable diligence.

(2) Presentment for payment is dispensed with—
(a) where, after the exercise of reasonable diligence,

presentment, as required by this Act, cannot be
effected; the fact that the holder has reason to
believe that the bill will, on presentment, be
dishonoured, does not dispense with the necessity
for presentment;

(b) where the drawee is a fictitious person;
(c) as regards the drawer, where the drawee or

acceptor is not bound, as between himself and
the drawer, to accept or pay the bill, and the
drawer has no reason to believe that the bill would
be paid if presented;

(d) as regards an indorser, where the bill was accepted
or made for the accommodation of that indorser,
and he has no reason to expect that the bill would
be paid if presented;

(e) by waiver of presentment, expressed or implied.

47. (1) A bill is dishonoured by non-payment (a) when it is
duly presented for payment and payment is refused or cannot be
obtained, or (b) when presentment is excused and the bill is overdue
and unpaid.

(2) Subject to this Act, when a bill is dishonoured by
non-payment, an immediate right of recourse against the drawer
and indorsers accrues to the holder.

48. Subject to this Act, when a bill has been dishonoured by
non-acceptance or by non-payment, notice of dishonour must be

UNOFFICIAL VERSION


UPDATED TO DECEMBER 31ST 2014

MINISTRY OF LEGAL AFFAIRS www.legalaffairs.gov.tt

LAWS OF TRINIDAD AND TOBAGO

26 Chap. 82:31 Bills of Exchange

given to the drawer and each indorser, and any drawer or indorser
to whom such notice is not given is discharged.

However—
(a) where a bill is dishonoured by non-acceptance,

and notice of dishonour is not given, the rights of
a holder in due course, subsequent to the omission,
shall not be prejudiced by the omission;

(b) where a bill is dishonoured by non-acceptance,
and due notice of dishonour is given, it shall not
be necessary to give notice of a subsequent
dishonour by non-payment unless the bill shall
in the meantime have been accepted.

49. Notice of dishonour in order to be valid and effectual must
be given in accordance with the following rules:

(a) the notice must be given by or on behalf of the
holder, or by or on behalf of an indorser who, at
the time of giving it, is himself liable on the bill;

(b) notice of dishonour may be given by an agent
either in his own name, or in the name of any
party entitled to give notice whether that party be
his principal or not;

(c) when the notice is given by or on behalf of the
holder, it enures for the benefit of all subsequent
holders and all prior indorsers who have a right
of recourse against the party to whom it is given;

(d) where notice is given by or on behalf of an
indorser entitled to give notice as provided above,
it enures for the benefit of the holder and all
indorsers subsequent to the party to whom notice
is given;

(e) the notice may be given in writing or by personal
communication, and may be given in any terms
which sufficiently identify the bill, and intimate
that the bill has been dishonoured by non-
acceptance or non-payment;

Rules as to
notice of
dishonour.

UNOFFICIAL VERSION


UPDATED TO DECEMBER 31ST 2014

MINISTRY OF LEGAL AFFAIRS www.legalaffairs.gov.tt

L.R.O.

LAWS OF TRINIDAD AND TOBAGO

Bills of Exchange Chap. 82:31 27

(f) the return of a dishonoured bill to the drawer or
an indorser is, in point of form, deemed a
sufficient notice of dishonour;

(g) a written notice need not be signed, and an
insufficient written notice may be supplemented
and validated by verbal communication. A
mis-description of the bill shall not vitiate the
notice unless the party to whom the notice is given
is in fact misled thereby;

(h) where notice of dishonour is required to be given
to any person, it may be given either to the party
himself, or to his agent in that behalf;

(i) where the drawer or indorser is dead, and the party
giving notice knows it, the notice must be given
to a personal representative, if such there be, and
with the exercise of reasonable diligence he can
be found;

(j) where the drawer or indorser is bankrupt, notice
may be given either to the party himself or to
the trustee;

(k) where there are two or more drawers or indorsers
who are not partners, notice must be given to each
of them, unless one of them has authority to
receive such notice for the others;

(l) the notice may be given as soon as the bill is
dishonoured, and must be given within a
reasonable time thereafter.

In the absence of special circumstances, notice
is not deemed to have been given within a
reasonable time, unless—

(i) where the person giving and the person to
receive notice reside in the same place, the
notice is given or sent off in time to reach
the latter on the day after the dishonour of
the bill;

UNOFFICIAL VERSION


UPDATED TO DECEMBER 31ST 2014

MINISTRY OF LEGAL AFFAIRS www.legalaffairs.gov.tt

LAWS OF TRINIDAD AND TOBAGO

28 Chap. 82:31 Bills of Exchange

(ii) where the person giving and the person to
receive notice reside in different places,
the notice is sent off on the day after the
dishonour of the bill, if there be a post at a
convenient hour on that day, and if there
be no such post on that day, then by the
next post thereafter;

(m) where a bill when dishonoured is in the hands of
an agent, he may either himself give notice to the
parties liable on the bill, or he may give notice to
his principal. If he gives notice to his principal,
he must do so within the same time as if he were
the holder, and the principal upon receipt of such
notice has himself the same time for giving notice
as if the agent had been an independent holder;

(n) where a party to a bill receives due notice of
dishonour, he has, after the receipt of such notice,
the same period of time for giving notice to
antecedent parties that the holder has after
the dishonour;

(o) where a notice of dishonour is duly addressed and
posted, the sender is deemed to have given due
notice of dishonour, notwithstanding any
miscarriage by the Post Office.

50. (1) Delay in giving notice of dishonour is excused where
the delay is caused by circumstances beyond the control of the
party giving notice, and not imputable to his default, misconduct,
or negligence. When the cause of delay ceases to operate, the notice
must be given with reasonable diligence.

(2) Notice of dishonour is dispensed with—
(a) when, after the exercise of reasonable diligence,

notice as required by this Act cannot be given to
or does not reach the drawer or indorser sought
to be charged;

(b) by waiver, express or implied; notice of
dishonour may be waived before the time of

Excuses for
non-notice and
delay.

UNOFFICIAL VERSION


UPDATED TO DECEMBER 31ST 2014

MINISTRY OF LEGAL AFFAIRS www.legalaffairs.gov.tt

L.R.O.

LAWS OF TRINIDAD AND TOBAGO

Bills of Exchange Chap. 82:31 29

giving notice has arrived, or after the omission to
give due notice;

(c) as regards the drawer in the following cases,
namely, (i) where drawer and drawee are the
same person; (ii) where the drawee is a fictitious
person, or a person not having capacity to
contract; (iii) where the drawer is the person to
whom the bill is presented for payment; (iv) where
the drawee or acceptor is as between himself
and the drawer under no obligation to accept
or pay the bill; (v) where the drawer has
countermanded payment;

(d) as regards the indorser in the following cases,
namely, (i) where the drawee is a fictitious person,
or a person not having capacity to contract, and
the indorser was aware of the fact at the time he
indorsed the bill; (ii) where the indorser is the
person to whom the bill is presented for
payment; (iii) where the bill was accepted or
made for his accommodation.

51. (1) Where an inland bill has been dishonoured, it may, if
the holder thinks fit, be noted for non-acceptance or non-payment,
as the case may be; but it is not necessary to note or protest any
such bill in order to preserve the recourse against the drawer
or indorser.

(2) Where a foreign bill, appearing on the face of it to be
such, has been dishonoured by non-acceptance, it must be duly
protested for non-acceptance, and where such a bill that has not
been previously dishonoured by non-acceptance, is dishonoured
by non-payment, it must be duly protested for non-payment. If it
is not so protested, the drawer and indorsers are discharged. Where
a bill does not appear on the face of it to be a foreign bill, protest
thereof in case of dishonour is unnecessary.

(3) A bill that has been protested for non-acceptance may
be subsequently protested for non-payment.

Noting or
protest of bill.

UNOFFICIAL VERSION


UPDATED TO DECEMBER 31ST 2014

MINISTRY OF LEGAL AFFAIRS www.legalaffairs.gov.tt

LAWS OF TRINIDAD AND TOBAGO

30 Chap. 82:31 Bills of Exchange

(4) Subject to this Act, when a bill is noted or protested,
it may be noted on the day of its dishonour, and must be noted not
later than the next succeeding business day. When a bill has been
duly noted, the protest may be subsequently extended as of the
date of the noting.

(5) Where the acceptor of a bill becomes bankrupt or
insolvent or suspends payment before it matures, the holder may
cause the bill to be protested for better security against the drawer
and indorsers.

(6) A bill must be protested at the place where it
is dishonoured.

However—
(a) when a bill is presented through the Post Office,

and returned by post dishonoured, it may be
protested at the place to which it is returned and
on the day of its return if received during business
hours, and if not received during business hours,
then not later than the next business day;

(b) when a bill drawn payable at the place of business
or residence of some person other than the drawee
has been dishonoured by non-acceptance, it must
be protested for non-payment at the place where
it is expressed to be payable, and no further
presentment for payment to, or demand on, the
drawee is necessary.

(7) A protest must contain a copy of the bill, and must be
signed by the Notary making it, and must specify—

(a) the person at whose request the bill is protested;
(b) the place and date of protest, the cause or reason

for protesting the bill, the demand made, and the
answer given, if any, or the fact that the drawee
or acceptor could not be found.

(8) Where a bill is lost or destroyed, or is wrongly detained
from the person entitled to hold it, protest may be made on a copy
or written particulars thereof.

UNOFFICIAL VERSION


UPDATED TO DECEMBER 31ST 2014

MINISTRY OF LEGAL AFFAIRS www.legalaffairs.gov.tt

L.R.O.

LAWS OF TRINIDAD AND TOBAGO

Bills of Exchange Chap. 82:31 31

(9) Protest is dispensed with by any circumstance
which would dispense with notice of dishonour. Delay in noting
or protesting is excused when the delay is caused by
circumstances beyond the control of the holder, and not
imputable to his default, misconduct or negligence. When the cause
of delay ceases to operate, the bill must be noted or protested with
reasonable diligence.

52. (1) When a bill is accepted generally, presentment for
payment is not necessary in order to render the acceptor liable.

(2) When, by the terms of a qualified acceptance,
presentment for payment is required, the acceptor, in the absence
of an express stipulation to that effect, is not discharged by the
omission to present the bill for payment on the day that it matures.

(3) In order to render the acceptor of a bill liable, it is not
necessary to protest it, or that notice of dishonour should be given
to him.

(4) Where the holder of a bill presents it for payment, he
shall exhibit the bill to the person from whom he demands payment,
and when a bill is paid the holder shall forthwith deliver it up to
the party paying it.

LIABILITIES OF PARTIES

53. A bill, of itself, does not operate as an assignment of funds
in the hands of the drawee available for the payment thereof, and
the drawee of a bill who does not accept as required by this Act is
not liable on the instrument.

54. The acceptor of a bill by accepting it—
(a) engages that he will pay it according to the tenor

of his acceptance;
(b) is precluded from denying to a holder in

due course—
(i) the existence of the drawer, the genuineness

of his signature, and his capacity and
authority to draw the bill;

Duties of holder
as regards
drawee or
acceptor.

Bill not
assignment of
funds in hands
of drawee.

Liability of
acceptor.

UNOFFICIAL VERSION


UPDATED TO DECEMBER 31ST 2014

MINISTRY OF LEGAL AFFAIRS www.legalaffairs.gov.tt

LAWS OF TRINIDAD AND TOBAGO

32 Chap. 82:31 Bills of Exchange

(ii) in the case of a bill payable to drawer’s
order, the then capacity of the drawer to
indorse, but not the genuineness or validity
of his indorsement;

(iii) in the case of a bill payable to the order of
a third person, the existence of the payee
and his then capacity to indorse, but not
the genuineness or validity of his
indorsement.

55. (1) The drawer of a bill by drawing it—
(a) engages that on due presentment it shall be

accepted and paid according to its tenor, and that
if it be dishonoured he will compensate the holder
or any indorser who is compelled to pay it,
provided that the requisite proceedings on
dishonour be duly taken;

(b) is precluded from denying to a holder in due
course the existence of the payee and his then
capacity to indorse.

(2) The indorser of a bill by indorsing it—
(a) engages that on due presentment it shall be

accepted and paid according to its tenor, and that
if it be dishonoured he will compensate the holder
or a subsequent indorser who is compelled to pay
it, provided that the requisite proceedings on
dishonour be duly taken;

(b) is precluded from denying to a holder in due
course the genuineness and regularity in all
respects of the drawer’s signature and all previous
indorsements;

(c) is precluded from denying to his immediate or a
subsequent indorsee that the bill was at the time
of his indorsement a valid and subsisting bill, and
that he had then a good title thereto.

Liability of
drawer or
indorser.

UNOFFICIAL VERSION


UPDATED TO DECEMBER 31ST 2014

MINISTRY OF LEGAL AFFAIRS www.legalaffairs.gov.tt

L.R.O.

LAWS OF TRINIDAD AND TOBAGO

Bills of Exchange Chap. 82:31 33

56. Where a person signs a bill otherwise than as drawer or
acceptor, he thereby incurs the liabilities of an indorser to a holder
in due course.

57. Where a bill is dishonoured, the measure of damages,
which are deemed to be liquidated damages, shall be as follows:

(a) the holder may recover from any party liable on
the bill, and the drawer who has been compelled
to pay the bill may recover from the acceptor,
and an indorser who has been compelled to pay
the bill may recover from the acceptor or from
the drawer, or from a prior indorser—

(i) the amount of the bill;
(ii) interest thereon from the time of

presentment for payment, if the bill is
payable on demand, and from the maturity
of the bill in any other case;

(iii) the expenses of noting, or when protest is
necessary, and the protest has been
extended, the expenses of protest;

(b) in the case of a bill which has been dishonoured
abroad, in lieu of the above damages, the holder
may recover from the drawer or an indorser, and
the drawer or an indorser who has been compelled
to pay the bill may recover from any party liable
to him, the amount of the re-exchange with
interest thereon until the time of payment;

(c) where, by this Act, interest may be recovered as
damages, such interest may, if justice requires it,
be withheld wholly or in part, and where a bill is
expressed to be payable with interest at a given
rate, interest as damages may or may not be given
at the same rate as interest proper.

58. (1) Where the holder of a bill payable to bearer negotiates
it by delivery without indorsing it, he is called a “transferor
by delivery”.

Stranger signing
bill liable as
indorser.

Measure of
damages against
parties to
dishonoured
bill.

Transferor by
delivery and
transferee.

UNOFFICIAL VERSION


UPDATED TO DECEMBER 31ST 2014

MINISTRY OF LEGAL AFFAIRS www.legalaffairs.gov.tt

LAWS OF TRINIDAD AND TOBAGO

34 Chap. 82:31 Bills of Exchange

(2) A transferor by delivery is not liable on the instrument.
(3) A transferor by delivery who negotiates a bill thereby

warrants to his immediate transferee, being a holder for value, that
the bill is what it purports to be, that he has a right to transfer it,
and that at the time of transfer he is not aware of any fact which
renders it valueless.

DISCHARGE OF BILL

59. (1) A bill is discharged by payment in due course by or
on behalf of the drawee or acceptor.

“Payment in due course” means payment made at or after the
maturity of the bill to the holder thereof in good faith and without
notice that his title to the bill is defective.

(2) Subject to the provisions contained below when a bill
is paid by the drawer or an indorser it is not discharged; but—

(a) where a bill payable to, or to the order of, a third
party is paid by the drawer, the drawer may
enforce payment thereof against the acceptor, but
may not re-issue the bill;

(b) where a bill is paid by an indorser, or where a bill
payable to drawer’s order is paid by the drawer,
the party paying it is remitted to his former rights
as regards the acceptor or antecedent parties, and
he may, if he thinks fit, strike out his own and
subsequent indorsements, and again negotiate
the bill.

(3) Where an accommodation bill is paid in due course
by the party accommodated, the bill is discharged.

60. When a bill payable to order on demand is drawn on a
banker, and the banker on whom it is drawn pays the bill in good
faith and in the ordinary course of business, it is not incumbent on
the banker to show that the indorsement of the payee or any
subsequent indorsement was made by or under the authority of the
person whose indorsement it purports to be, and the banker is
deemed to have paid the bill in due course although such
indorsement has been forged or made without authority.

Payment in
due course.

Banker paying
demand draft
whereon
indorsement
is forged.

UNOFFICIAL VERSION


UPDATED TO DECEMBER 31ST 2014

MINISTRY OF LEGAL AFFAIRS www.legalaffairs.gov.tt

L.R.O.

LAWS OF TRINIDAD AND TOBAGO

Bills of Exchange Chap. 82:31 35

A draft or order drawn by a banker on the head office or a
branch of his bank in Trinidad and Tobago for a sum of money
payable to order on demand shall be deemed to be a bill for the
purposes of this section.

61. When the acceptor of a bill is or becomes the holder of it
at or after its maturity, in his own right, the bill is discharged.

62. (1) When the holder of a bill at or after its maturity
absolutely and unconditionally renounces his rights against the
acceptor the bill is discharged.

The renunciation must be in writing, unless the bill is delivered
up to the acceptor.

(2) The liabilities of any party to a bill may in like manner
be renounced by the holder before, at, or after its maturity; but
nothing in this section shall affect the rights of a holder in due
course without notice of the renunciation.

63. (1) Where a bill is intentionally cancelled by the holder
or his agent, and the cancellation is apparent thereon, the bill
is discharged.

(2) In like manner any party liable on a bill may be
discharged by the intentional cancellation of his signature by the
holder or his agent. In such case any indorser who would have had
a right of recourse against the party whose signature is cancelled,
is also discharged.

(3) A cancellation made unintentionally, or under a
mistake, or without the authority of the holder, is inoperative; but
where a bill or any signature thereon appears to have been cancelled,
the burden of proof lies on the party who alleges that the
cancellation was made unintentionally, or under a mistake, or
without authority.

64. (1) Where a bill or acceptance is materially altered without
the assent of all parties liable on the bill, the bill is avoided except
as against a party who has himself made, authorised or assented to
the alteration, and subsequent indorsers; but where a bill has been

Acceptor the
holder at
maturity.

Express waiver.

Cancellation.

Alteration of
bill.

UNOFFICIAL VERSION


UPDATED TO DECEMBER 31ST 2014

MINISTRY OF LEGAL AFFAIRS www.legalaffairs.gov.tt

LAWS OF TRINIDAD AND TOBAGO

36 Chap. 82:31 Bills of Exchange

materially altered but the alteration is not apparent, and the bill is
in the hands of a holder in due course, such holder may avail himself
of the bill as if it had not been altered, and may enforce payment
of it according to its original tenor.

(2) In particular the following alterations are material,
namely, any alteration of the date, the sum payable, the time of
payment, the place of payment, and, where a bill has been
accepted generally, the addition of a place of payment without the
acceptor’s assent.

ACCEPTANCE AND PAYMENT FOR HONOUR

65. (1) Where a bill of exchange has been protested for
dishonour by non-acceptance, or protested for better security, and
is not overdue, any person, not being a party already liable thereon,
may, with the consent of the holder, intervene and accept the bill
suprà protest, for the honour of any party liable thereon, or for the
honour of the person for whose account the bill is drawn.

(2) A bill may be accepted for honour for part only of the
sum for which it is drawn.

(3) An acceptance for honour suprà protest in order to be
valid must—

(a) be written on the bill, and indicate that it is an
acceptance for honour;

(b) be signed by the acceptor for honour.
(4) Where an acceptance for honour does not expressly

state for whose honour it is made, it is deemed to be an acceptance
for the honour of the drawer.

(5) Where a bill payable after sight is accepted for
honour, its maturity is calculated from the date of the noting for
non-acceptance and not from the date of the acceptance for honour.

66. (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.

Acceptance
for honour
suprà protest.

Liability of
acceptor for
honour.

UNOFFICIAL VERSION


UPDATED TO DECEMBER 31ST 2014

MINISTRY OF LEGAL AFFAIRS www.legalaffairs.gov.tt

L.R.O.

LAWS OF TRINIDAD AND TOBAGO

Bills of Exchange Chap. 82:31 37

(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.

67. (1) Where a dishonoured bill has been accepted for honour
suprà protest, or contains a reference in case of need, it must be
protested for non-payment before it is presented for payment to
the acceptor for honour or referee in case of need.

(2) Where the address of the acceptor for honour is in
the same place where the bill is protested for non-payment, the
bill must be presented to him not later than the day following its
maturity; and where the address of the acceptor for honour is in
some place other than the place where it was protested for
non-payment, the bill must be forwarded not later than the day
following its maturity for presentment to him.

(3) Delay in presentment or non-presentment is excused
by any circumstance which would excuse delay in presentment
for payment or non-presentment for payment.

(4) When a bill of exchange is dishonoured by the
acceptor for honour, it must be protested for non-payment by him.

68. (1) Where a bill has been protested for non-payment, any
person may intervene and pay it suprà protest for the honour of
any party liable thereon, or for the honour of the person for whose
account the bill is drawn.

(2) Where two or more persons offer to pay a bill for the
honour of different parties, the person whose payment will
discharge most parties to the bill shall have the preference.

(3) Payment for honour suprà protest, in order to operate
as such and not as a mere voluntary payment, must be attested by
a notarial act and honour which may be appended to the protest or
form an extension of it.

(4) The notarial act of honour must be founded on a
declaration made by the payer for honour, or his agent in that behalf,
declaring his intention to pay the bill for honour, and for whose
honour he pays.

Presentment to
acceptor for
honour.

Payment for
honour suprà
protest.

UNOFFICIAL VERSION


UPDATED TO DECEMBER 31ST 2014

MINISTRY OF LEGAL AFFAIRS www.legalaffairs.gov.tt

LAWS OF TRINIDAD AND TOBAGO

38 Chap. 82:31 Bills of Exchange

(5) Where a bill has been paid for honour, all parties
subsequent to the party for whose honour it is paid are discharged,
but the payer for honour is subrogated for, and succeeds to both
the rights and duties of, the holder as regards the party for whose
honour he pays, and all parties liable to that party.

(6) The payer for honour on paying to the holder the
amount of the bill and the notarial expenses incidental to its
dishonour is entitled to receive both the bill itself and the protest.
If the holder does not on demand deliver them up, he shall be
liable to the payer for honour in damages.

(7) Where the holder of a bill refuses to receive payment
suprà protest he shall lose his right of recourse against any party
who would have been discharged by such payment.

LOST INSTRUMENTS

69. Where a bill has been lost before it is overdue, the person
who was the holder of it may apply to the drawer to give him
another bill of the same tenor, giving security to the drawer, if
required, to indemnify him against all persons whatever in case
the bill alleged to have been lost is found again.

If the drawer on request as mentioned above refuses to give
such duplicate bill, he may be compelled to do so.

70. In any action or proceeding upon a bill, the Court or a
Judge may order that the loss of the instrument shall not be set up,
provided indemnity is given to the satisfaction of the Court or
Judge against the claims of any other person upon the instrument
in question.

BILL IN A SET

71. (1) Where a bill is drawn in a set, each part of the set
being numbered, and containing a reference to the other parts, the
whole of the parts constitute one bill.

(2) Where the holder of a set indorses two or more parts
to different persons, he is liable on every such part, and every
indorser subsequent to him is liable on the part he has himself
indorsed as if the said parts were separate bills.

Holder’s right
to duplicate of
lost bill.

Action on
lost bill.

Rules as to sets.

UNOFFICIAL VERSION


UPDATED TO DECEMBER 31ST 2014

MINISTRY OF LEGAL AFFAIRS www.legalaffairs.gov.tt

L.R.O.

LAWS OF TRINIDAD AND TOBAGO

Bills of Exchange Chap. 82:31 39

(3) Where two or more parts of a set are negotiated to
different holders in due course, the holder whose title first accrues
is as between such holders deemed the true owner of the bill; but
nothing in this subsection shall affect the rights of a person who in
due course accepts or pays the part first presented to him.

(4) The acceptance may be written on any part; and it
must be written on one part only.

If the drawee accepts more than one part, and such accepted
parts get into the hands of different holders in due course, he is
liable on every such part as if it were a separate bill.

(5) When the acceptor of a bill drawn in a set pays it
without requiring the part bearing his acceptance to be delivered
up to him, and that part at maturity is outstanding in the hands of a
holder in due course, he is liable to the holder thereof.

(6) Subject to the preceding rules, where any one part of
a bill drawn in a set is discharged by payment or otherwise, the
whole bill is discharged.

CONFLICT OF LAWS

72. Where a bill drawn in one country is negotiated, accepted,
or payable in another, the rights, duties and liabilities of the parties
thereto are determined as follows:

(a) the validity of a bill as regards requisites in form
is determined by the law of the place of issue,
and the validity as regards requisites in form of
the supervening contract, such as acceptance, or
indorsement, or acceptance suprà protest, is
determined by the law of the place where each
such contract was made; however—

(i) where a bill is issued out of Trinidad and
Tobago, it is not invalid by reason only that
it is not stamped in accordance with the law
of the place of issue;

(ii) where a bill issued out of Trinidad and
Tobago conforms, as regards requisites in

Rules where
laws conflict.

UNOFFICIAL VERSION


UPDATED TO DECEMBER 31ST 2014

MINISTRY OF LEGAL AFFAIRS www.legalaffairs.gov.tt

LAWS OF TRINIDAD AND TOBAGO

40 Chap. 82:31 Bills of Exchange

form, to the law of Trinidad and Tobago, it
may, for the purpose of enforcing payment
thereof, be treated as valid as between all
persons who negotiate, hold, or become
parties to it in Trinidad and Tobago;

(b) subject to this Act, the interpretation of the
drawing, indorsement, acceptance, or acceptance
suprà protest of a bill, is determined by the law
of the place where such contract is made; but
where an inland bill is indorsed in a foreign
country, the indorsement shall, as regards the
payer, be interpreted according to the law of
Trinidad and Tobago;

(c) the duties of the holder with respect to
presentment for acceptance or payment, and the
necessity for or sufficiency of a protest or notice
of dishonour, or otherwise, are determined by the
law of the place where the act is done or the bill
is dishonoured;

(d) where a bill is drawn out of but payable in
Trinidad and Tobago, and the sum payable is not
expressed in the currency of Trinidad and Tobago,
the amount shall, in the absence of some
expressed stipulation, be calculated according to
the rate of exchange for sight drafts at the place
of payment on the day the bill is payable;

(e) where a bill is drawn in one country and is
payable in another, the due date thereof is
determined according to the law of the place
where it is payable.

PART II

CHEQUES ON A BANKER

73. A cheque is a bill of exchange drawn on a banker payable
on demand.

Except as otherwise provided in this Part, the provisions of
this Act applicable to a bill of exchange payable on demand apply
to a cheque.

Cheque defined.

UNOFFICIAL VERSION


UPDATED TO DECEMBER 31ST 2014

MINISTRY OF LEGAL AFFAIRS www.legalaffairs.gov.tt

L.R.O.

LAWS OF TRINIDAD AND TOBAGO

Bills of Exchange Chap. 82:31 41

74. Subject to this Act—
(a) where a cheque is not presented for payment

within a reasonable time of its issue, and the
drawer or the person on whose account it is drawn
had the right at the time of such presentment as
between him and the banker to have the cheque
paid and suffers actual damage through the delay,
he is discharged to the extent of such damage,
that is to say, to the extent to which such drawer
or person is a creditor of such banker to a larger
amount than he would have been had such cheque
been paid;

(b) in determining what is a reasonable time, regard
shall be had to the nature of the instrument, the
usage of trade and of bankers, and the facts of the
particular case;

(c) the holder of such cheque as to which such drawer
or person is discharged shall be a creditor, in lieu
of such drawer or person, of such banker to the
extent of such discharge, and entitled to recover
the amount from him.

75. The duty and authority of a banker to pay a cheque drawn
on him by his customer are determined by—

(a) countermand of payment;
(b) notice of the customer’s death.

CROSSED CHEQUES

76. (1) Where a cheque bears across its face an addition of—
(a) the words “and company” or any abbreviation

thereof between two parallel transverse lines,
either with or without the words “not
negotiable”; or

(b) two parallel transverse lines simply, either with
or without the words “not negotiable”,

that addition constitutes a crossing, and the cheque is
crossed generally.

Presentment of
cheque for
payment.

Revocation of
banker’s
authority.

General and
special crossings
defined.

UNOFFICIAL VERSION


UPDATED TO DECEMBER 31ST 2014

MINISTRY OF LEGAL AFFAIRS www.legalaffairs.gov.tt

LAWS OF TRINIDAD AND TOBAGO

42 Chap. 82:31 Bills of Exchange

(2) Where a cheque bears across its face an addition of
the name of a banker, either with or without the words “not
negotiable”, that addition constitutes a crossing, and the cheque is
crossed specially and to that banker.

77. (1) A cheque may be crossed generally or specially by
the drawer.

(2) Where a cheque is uncrossed, the holder may cross it
generally or specially.

(3) Where a cheque is crossed generally, the holder may
cross it specially.

(4) Where a cheque is crossed generally or specially, the
holder may add the words “not negotiable”.

(5) Where a cheque is crossed specially, the banker to
whom it is crossed may again cross it specially to another banker
for collection.

(6) Where an uncrossed cheque, or a cheque crossed
generally, is sent to a banker for collection, he may cross it specially
to himself.

78. A crossing authorised by this Act is a material part of the
cheque; and no person shall obliterate or, except as authorised by
this Act, add to or alter the crossing.

79. (1) Where a cheque is crossed specially to more than
one banker, except when crossed to an agent for collection being
a banker, the banker on whom it is drawn shall refuse
payment thereof.

(2) Where the banker on whom a cheque is drawn which
is so crossed nevertheless pays the same, or pays a cheque crossed
generally otherwise than to a banker, or if crossed specially
otherwise than to the banker to whom it is crossed, or his agent for
collection being a banker, he is liable to the true owner of the
cheque for any loss he may sustain owing to the cheque having
been so paid.

Crossing by
drawer or
after issue.

Crossing, a
material part
of cheque.

Duties of banker
as to crossed
cheques.

UNOFFICIAL VERSION


UPDATED TO DECEMBER 31ST 2014

MINISTRY OF LEGAL AFFAIRS www.legalaffairs.gov.tt

L.R.O.

LAWS OF TRINIDAD AND TOBAGO

Bills of Exchange Chap. 82:31 43

(3) Where a cheque is presented for payment which does
not at the time of presentment appear to be crossed, or to have had
a crossing which has been obliterated, or to have been added to or
altered otherwise than as authorised by this Act, the banker paying
the cheque in good faith and without negligence shall not be
responsible or incur any liability, nor shall the payment be
questioned by reason of the cheque having been crossed, or of the
crossing having been obliterated or having been added to or altered
otherwise than as authorised by this Act, and of payment having
been made otherwise than to a banker or to the banker to whom
the cheque is or was crossed, or to his agent for collection being a
banker, as the case may be.

(4) Where the banker, on whom a crossed cheque is
drawn, in good faith and without negligence pays it, if crossed
generally, to a banker and if crossed specially, to the banker to
whom it is crossed, or his agent for collection being a banker, the
banker paying the cheque and, if the cheque has come into the
hands of the payee, the drawer shall respectively be entitled to the
same rights and be placed in the same position as if payment of the
cheque had been made to the true owner thereof.

80. (1) Where a banker in good faith and without negligence
receives payment for a customer of a cheque crossed generally
or specially to himself, and the customer has no title or a defective
title thereto, the banker shall not incur any liability to the true
owner of the cheque by reason only of having received
such payment.

(2) A banker receives payment of a crossed cheque for a
customer within the meaning of this section, notwithstanding that
he credits his customer’s account with the amount of the cheque
before receiving payment thereof.

81. Where a person takes a crossed cheque which bears on it
the words “not negotiable”, he shall not have, and shall not be
capable of giving, a better title to the cheque than that which the
person from whom he took it had.

Protection to
banker and
drawer where
cheque is
crossed.

Protection to
collecting
banker.

Effect of words
“not
negotiable”.

UNOFFICIAL VERSION


UPDATED TO DECEMBER 31ST 2014

MINISTRY OF LEGAL AFFAIRS www.legalaffairs.gov.tt

LAWS OF TRINIDAD AND TOBAGO

44 Chap. 82:31 Bills of Exchange

82. Sections 76 to 81 shall apply to a banker’s draft as if the
draft were a cheque.

For the purposes of this section, the expression “banker’s draft”
means a draft payable on demand drawn by or on behalf of a bank
upon itself, whether payable at the head office or some other office
of the bank.

PART III

PROMISSORY NOTES

83. (1) A promissory note is an unconditional promise in
writing made by one person to another signed by the maker,
engaging to pay, on demand or at a fixed or determinable future
time, a sum certain in money to, or to the order of, a specified
person or to bearer.

(2) An instrument in the form of a note payable to maker’s
order is not a note within the meaning of this section unless and
until it is indorsed by the maker.

(3) A note is not invalid by reason only that it contains
also a pledge of collateral security with authority to sell
or dispose thereof.

(4) A note which is, or on the face of it purports to be,
both made and payable within Trinidad and Tobago is an inland
note. Any other note is a foreign note.

84. A promissory note is inchoate and incomplete until delivery
thereof to the payee or bearer.

85. (1) A promissory note may be made by two or more
makers, and they may be liable thereon jointly, or jointly and
severally, according to its tenor.

(2) Where a note runs “I promise to pay” and is signed
by two or more persons, it is deemed to be their joint and
several note.

86. (1) Where a note payable on demand has been indorsed,
it must be presented for payment within a reasonable time of the
indorsement. If it be not so presented, the indorser is discharged.

Cheques drawn
on a bank
by itself.

Promissory note
defined.

Delivery
necessary.

Joint and
several notes.

Note payable
on demand.

UNOFFICIAL VERSION


UPDATED TO DECEMBER 31ST 2014

MINISTRY OF LEGAL AFFAIRS www.legalaffairs.gov.tt

L.R.O.

LAWS OF TRINIDAD AND TOBAGO

Bills of Exchange Chap. 82:31 45

(2) In determining what is a reasonable time, regard shall
be had to the nature of the instrument, the usage of trade and the
facts of the particular case.

(3) Where a note payable on demand is negotiated, it is
not deemed to be overdue, for the purpose of affecting the holder
with defects of title of which he had no notice, by reason that it
appears that a reasonable time for presenting it for payment has
elapsed since its issue.

87. (1) Where a promissory note is in the body of it made
payable at a particular place, it must be presented for payment at
that place in order to render the maker liable. In any other case,
presentment for payment is not necessary in order to render the
maker liable.

(2) Presentment for payment is necessary in order to
render the indorser of a note liable.

(3) Where a note is in the body of it made payable at a
particular place, presentment at that place is necessary in order to
render an indorser liable; but when a place of payment is indicated
by way of memorandum only, presentment at that place is sufficient
to render the indorser liable, but a presentment to the maker
elsewhere, if sufficient in other respects, shall also suffice.

88. The maker of a promissory note by making it—
(a) engages that he will pay it according to its tenor;
(b) is precluded from denying to a holder in due

course the existence of the payee and his then
capacity to indorse.

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

Presentment of
note for
payment.

Liability of
maker.

Application of
Part I to notes.

UNOFFICIAL VERSION


UPDATED TO DECEMBER 31ST 2014

MINISTRY OF LEGAL AFFAIRS www.legalaffairs.gov.tt

LAWS OF TRINIDAD AND TOBAGO

46 Chap. 82:31 Bills of Exchange

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

(a) presentment for acceptance;
(b) acceptance;
(c) acceptance suprà protest;
(d) bills in a set.

(4) Where a foreign note is dishonoured, protest thereof
is unnecessary.

PART IV

SUPPLEMENTARY

90. A thing is deemed to be done in good faith, within the
meaning of this Act, where it is in fact done honestly, whether it is
done negligently or not.

91. (1) Where, by this Act, any instrument or writing is
required to be signed by any person, it is not necessary that he
should sign it with his own hand, but it is sufficient if his signature
is written thereon by some other person by or under his authority.

(2) In the case of a corporation, where, by this Act, any
instrument or writing is required to be signed, it is sufficient if the
instrument or writing be sealed with the corporate seal.

But nothing in this section shall be construed as requiring the
bill or note of a corporation to be under seal.

92. (1) Where, by this Act, the time limited for doing any act
or thing is less than three days, in reckoning time, non-business
days are excluded.

“Non-business day” for the purposes of this Act means—
(a) a Sunday or public holiday;
(b) a day appointed by Order of the President to be a

non-business day.
Any other day is a business day.

(2) All bills which are due and payable on a non-business
day shall be payable, and in the case of non-payment may be noted

Good faith.

Signature.

Computation of
time for act due
to be done on
non-business
days.
[45 of 1979].

UNOFFICIAL VERSION


UPDATED TO DECEMBER 31ST 2014

MINISTRY OF LEGAL AFFAIRS www.legalaffairs.gov.tt

L.R.O.

LAWS OF TRINIDAD AND TOBAGO

Bills of Exchange Chap. 82:31 47

and protested, on the next following business day and not on such
non-business day and any such noting or protest shall be as valid
as if made on the day on which the bill was made due and payable.

(3) When the day on which notice of dishonour of an
unpaid bill should be given, or when the day on which a bill should
be presented or received for acceptance, or accepted or forwarded
to a referee, is a non-business day, such notice of dishonour shall
be given, and such bill shall be presented or forwarded, on the
next following business day.

93. For the purposes of this Act, where a bill or note is required
to be protested within a specified time, or before some further
proceeding is taken, it is sufficient that the bill has been noted for
protest before the expiration of the specified time or the taking of
the proceeding; and the formal protest may be extended at any
time thereafter as of the date of the noting.

94. Where a dishonoured bill or note is authorised or required
to be protested, and the services of a Notary cannot be obtained at
the place where the bill is dishonoured, any householder or
substantial resident of the place may, in the presence of two
witnesses, give a certificate, signed by them, attesting the dishonour
of the bill, and the certificate shall in all respects operate as if it
were a formal protest of the bill.

The form in the Schedule may be used with necessary
modifications, and if used shall be sufficient.

95. (1) Where a person signs a bill of exchange as drawer,
acceptor or indorser, or signs a promissory note as maker or
indorser, his signature, if it be by mark or in characters other
than Roman, shall have no effect unless it is made in the
presence of and attested by a Justice, Clerk of the Peace, Minister
of Religion, medical practitioner or police officer of or above the
rank of corporal.

(2) An attestation shall be in the form following or to the
like effect:

Signed in my presence this ........................................... day of
........................... 20......, by ......................, a person known to me.

Signature.

When noting
equivalent to
protest.

Protest when
Notary not
accessible.

What signatures
to be attested.

UNOFFICIAL VERSION


UPDATED TO DECEMBER 31ST 2014

MINISTRY OF LEGAL AFFAIRS www.legalaffairs.gov.tt

LAWS OF TRINIDAD AND TOBAGO

48 Chap. 82:31 Bills of Exchange

(3) A person who attests a signature under this section
shall satisfy himself as to the identity of the party signing and that
he understands the nature and effect of the instrument.

(4) A person shall not be capable of attesting a signature
under this section if he has any personal interest in the bill or note
or the proceeds thereof, or in any transaction connected therewith.

(5) Any person who has signed, by mark or in characters
other than Roman, a promissory note as maker or indorser, may
affix an inked impression of the external filament of his right thumb
(or if he has no right thumb, then of his left thumb) thereto in the
presence of a police officer of or above the rank of corporal in
charge of a Police Station; and every such officer shall write
thereunder his rank and usual signature, and the date on which,
and the station where, the said impression was affixed, and, if the
impression is of the left thumb, shall so specify. When the
provisions of this subsection have been duly complied with in
relation to the signing as maker or indorser of a promissory note,
subsections (1) to (4) shall not apply in relation to such signing.

96. (1) The rules in bankruptcy relating to bills of exchange,
promissory notes and cheques shall continue to apply thereto
notwithstanding anything contained in this Act.

(2) The rules of Common Law, including the law
merchant, save in so far as they are inconsistent with the express
provisions of this Act, shall apply to bills of exchange, promissory
notes, and cheques.

(3) Nothing in this Act shall affect—
(a) any law for the time being in force relating to

the revenue;
(b) the provisions of any written law relating to banks

or companies.

Savings.

UNOFFICIAL VERSION


UPDATED TO DECEMBER 31ST 2014

MINISTRY OF LEGAL AFFAIRS www.legalaffairs.gov.tt

L.R.O.

LAWS OF TRINIDAD AND TOBAGO

Bills of Exchange Chap. 82:31 49

SCHEDULE

FORM OF PROTEST WHICH MAY BE USED WHEN
THE SERVICES OF A NOTARY CANNOT BE OBTAINED

REPUBLIC OF TRINIDAD AND TOBAGO.

KNOW ALL MEN that I, A.B. [householder], of .......................... in the
County of ................................ in Trinidad and Tobago at the request of C.D.,
there being no Notary Public available, did on the ................................... day of
..................................., 20......, at ............................................ demand payment
[or acceptance] of the bill of exchange hereunder written, from E.F., to which
demand he made answer [state answer if any] wherefore I now, in the presence
of G.H. and J.K. do protest the said bill of exchange.

(Signed) A.B.
G.H.
J.K.

N.B.—The bill itself should be annexed, or a copy of the bill, and all that is
written thereon shall be underwritten.

} Witnesses.

Section 94.

UNOFFICIAL VERSION


UPDATED TO DECEMBER 31ST 2014

MINISTRY OF LEGAL AFFAIRS www.legalaffairs.gov.tt
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