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Bills Of Exchange Act 1882

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Bills Of Exchange Act 1882 Empty Bills Of Exchange Act 1882

Post by janloot on Thu Aug 15, 2019 5:14 pm

Good afternoon members Wink

I can recall from the old GOODF site that people often talked about:

If the Original Creditor sells your debt/account, then under the Bills Of Exchange Act 1882 this then means that they have paid off the alleged debt for you.

Can anyone please confirm if the above is true? & has anyone successfully used this challenge in court?

I have looked through the Bills Of Exchange Act but have been unable to find it, to much gobble de gook in the act for me to understand Embarassed


Wink
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Post by LionsShare on Thu Aug 15, 2019 9:41 pm

look at section 59 sub sect 1 & 3, in 3 the accomodated party is where 1 does a favour without getting owt in return. So therefore paying off without you knowing its paid.
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Post by janloot on Thu Aug 15, 2019 10:02 pm

Thanks LionsShare Smile

Info saved:

Bills Of Exchange Act 1882


59 Payment in due course.

(1)A bill is discharged by payment in due course by or on behalf of the drawee or acceptor.

“Payment in due course” means payment made at or after the maturity of the bill to the holder thereof in good faith and without notice that his title to the bill is defective.

(2)Subject to the provisions herein-after contained, when a bill is paid by the drawer or an indorser it is not discharged; but

(a)Where a bill payable to, or to the order of, a third party is paid by the drawer, the drawer may enforce payment thereof against the acceptor, but may not re-issue the bill.

(b)Where a bill is paid by an indorser, or where a bill payable to drawer’s order is paid by the drawer, the party paying it is remitted to his former rights as regards the acceptor or antecedent parties, and he may, if he thinks fit, strike out his own subsequent indorsements, and again negotiate the bill.

(3)Where an accommodation bill is paid in due course by the party accommodated the bill is discharged.

.....................

And has anyone used this in court? Wink
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Post by flyingfish on Fri Aug 16, 2019 8:41 am

I'm not convinced the Bill of Exchange Act would be applicable unless the matter you're dealing with actually concerns a Bill of Exchange.

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Post by daveiron on Fri Aug 16, 2019 9:25 am

As you may know Paul Webster has been trying to use the BoE in court many times, and as right as he may
be they will not entertain it . It would open the flood gates .Laws only apply when its to suppress you.
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Post by LionsShare on Fri Aug 16, 2019 11:02 am

@daveiron wrote:As you may know Paul Webster has been trying to use the BoE in court many times, and as right as he may
be they will not entertain it . It would open the flood gates .Laws only apply when its to suppress you.
This is too true, BOE or cash or prom notes, or credit card etc, we all use every day, so when it comes to utilities  instead of BOE what we may get are Bills IN Exchange.

IMO section 59 should apply or how would we exchange properly in commerce if BOE 1882 was not there? Very difficult but not impossible!


Last edited by LionsShare on Fri Aug 16, 2019 12:01 pm; edited 1 time in total (Reason for editing : swapped BUT for a NOT)
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Post by Mrblue2015 on Fri Aug 16, 2019 11:50 am

@daveiron wrote:As you may know Paul Webster has been trying to use the BoE in court many times, and as right as he may be they will not entertain it .

Yep, no chance (if only it were that simple - with the courts)
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