BILLS OF EXCHANGE ACT - 1961 (ACT 55)Section - 97 - InterpretationIn 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; "bearer" means the person in possession of a bill or note which is payable to bearer; "bill" means bill of exchange; "delivery" means transfer of possession, actual or constructive, from one person to another; "endorsement" means an endorsement completed by delivery; "holder" means the payee or endorsee of a bill or note who is in possession of it, or the bearer thereof; "insolvent" includes any person whose estate is vested in a trustee under the law for the time being in force relating to insolvency; "issue" means the first delivery of a bill or note, complete in form to a person who takes it as a holder; "note" means promissory note; "value" means valuable consideration. |