Bills of Exchange Act (R.S.C., 1985, c. B-4)

Marginal note:Bill of exchange

• 16 (1) A bill of exchange is an unconditional order in writing, addressed by one person to another, signed by the person giving it, requiring the person to whom it is addressed to pay, on demand or at a fixed or determinable future time, a sum certain in money to or to the order of a specified person or to bearer.

• Marginal note:Non-compliance with requisites

  (2) An instrument that does not comply with the requirements of subsection (1), or that orders any act to be done in addition to the payment of money, is not, except as hereinafter provided, a bill.

• Marginal note:Unconditional order

  (3) An order to pay out of a particular fund is not unconditional within the meaning of this section, except that an unqualified order to pay, coupled with

  • (a) an indication of a particular fund out of which the drawee is to reimburse himself or a particular account to be debited with the amount, or

  • (b) a statement of the transaction that gives rise to the bill,

  is unconditional.