Comparison of Key Provisions: Australia (1909) vs UK (1882) Bills of Exchange Acts

Australian Act 1909 – SectionUK Act 1882 – Equivalent(s)TopicNotes
s 6(No equivalent)Application of ActAU-specific; establishes national applicability
s 7(No equivalent)Application of State lawsReflects Australian federalism; no UK equivalent
s 8s 3Definition of a bill of exchangeText is nearly identical in both Acts
s 22ss 14, 20, 42Requisites of acceptance UK splits this topic across:
– s 14: types of acceptance
– s 20: presentment
– s 42: dishonour by non-acceptance
s 37s 32Requisites of valid indorsementIdentical wording regarding endorsement form and completeness
s 48s 42Dishonour by non-acceptanceBoth define dishonour when valid acceptance is not obtained
s 59s 54Liability of the acceptorAcceptors are primarily liable; same wording
s 60s 55Liability of drawer or indorserEquivalent duties and available defences
s 62ss 57, 58Measure of damagesAU s 62 consolidates UK s 57 (holder’s rights) and s 58 (inter-party liabilities)

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