109 Bills Of Exchange (bahamas)

• Author: Ralph Hone
• Pages: #3

[CH.109.

CHAPTER 109.

BILLS OF EXCHANGE (BAHAMAS).

AN ACT TO CHARGING RECOVERY EXCHANGE.

MAKE PROVISIONS REGULATING THE OF INTEREST ON MONEYS AND THE OF DAMAGES ON PROTESTED BILLS OF 17 of 1859.

[30th April 1859.] 1. This Act may be cited as The Bills of Exchange (Bahamas) Act.

2. Wherever interest is payable upon any contract expressed or implied, entered into before the passing of this Act for payment of the legal or current rate of interest, or where interest shall be payable upon any such contract entered into after the passing of this Act, but in respect of which the rate of interest is not mentioned, then and in either of such cases interest shall be recoverable at and after the rate of six pounds per centum per annum.

3. For all bills of exchange drawn or negotiated within the Colony upon any part of Europe, which shall be returned under protest for want of acceptment or payment or for any other cause, there shall be paid upon all such bills so protested and returned as aforesaid, a re-exchange as damages for the same, at the rate of twenty pounds per centum, and in case of nonpayment of such protested bills and damages within three days after demand being made by the possessor of such bill from the drawer -or indorser, then the said bill, together with the damages thereon shall bear the legal interest at and after the rate of six pounds per centum...