Commonwealth Consolidated Acts

BILLS OF EXCHANGE ACT 1909 - SECT 24

  (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.