Only drawee may accept bills, with narrow exceptions for need or acceptance for honour limiting who can bind by acceptance. The rule restricts acceptance of a bill of exchange to the drawee (or all or some of several drawees), with limited exceptions: a person named as drawee in case of need and an acceptor for honour may bind themselves by acceptance, thereby defining who can create an enforceable acceptance and excluding other persons from binding obligations by acceptance.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Only drawee may accept bills, with narrow exceptions for need or acceptance for honour limiting who can bind by acceptance.
The rule restricts acceptance of a bill of exchange to the drawee (or all or some of several drawees), with limited exceptions: a person named as drawee in case of need and an acceptor for honour may bind themselves by acceptance, thereby defining who can create an enforceable acceptance and excluding other persons from binding obligations by acceptance.
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