Document ID: chunk:federal_register_of_legislation:C2012C00128:section:24
Version: federal_register_of_legislation:C2012C00128
Segment Type: section
Provision Reference: s 24
Character Range: 16721–17638

24  General and qualified acceptances

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

 (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.

 (3) 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; or
 (b) partial, that is to say, an acceptance to pay part only of the amount for which the bill is drawn; or
 (c) local, that is to say, an acceptance to pay only at a particular specified place; or
 (d) qualified as to time; or
 (e) the acceptance of some one or more of the drawees, but not of all.

 (4) 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.