Bills of Exchange Act, 1964 (Act No. 34 of 1964)

Chapter I

Bills of exchange - form and interpretation

3. Effect if different parties to a bill are the same person, or drawee a fictitious person or not having capacity to contract
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(1)A bill may be drawn payable to the drawer or his order, or it may be drawn payable to the drawee or his order.

 

(2)If in a bill, drawer and drawee are the same person, or the drawee is a fictitious person, or a person not having capacity to contract, the holder may treat the instrument, at his option, either as a bill or as a note.