Bills of Exchange Act 1882 (c. 61)

Part I U.K. Preliminary

2 Interpretation of terms. U.K.

In this Act, unless the context otherwise requires,—

• “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, and “note” means promissory note.

• “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.

• “Person” includes a body of persons whether incorporated or not.

[F1 “postal operator” has the meaning given by [F2 section 27 of the Postal Services Act 2011].]

• “Value” means valuable consideration.

• “Written” includes printed, and “writing” includes print.

Textual Amendments

F1 S. 2: Definition of “postal operator” inserted (26.3.2001) by S.I. 2001/1149, art. 3(1), Sch. 1 para. 4(2)

F2 Words in s. 2 substituted (1.10.2011) by Postal Services Act 2011 (c. 5), s. 93(2)(3), Sch. 12 para. 73; S.I. 2011/2329, art. 3

Modifications etc. (not altering text)

C1 S. 2 extended by City of London (Various Powers) Act 1937 (c. xlv), s. 28(1), Sch. 2, Local Government (Scotland) Act 1947 (c. 43, SIF:81:2), s. 290(3), S.I. 1957/2228 (1957 I, p. 801) and 1974/519