Bills of Exchange Act, 1964 (Act No. 34 of 1964)Chapter IBills of exchange - form and interpretation8. When bill is payable on demand |
| (1) | A bill is payable on demand— |
| (a) | if it is expressed to be payable on demand, or at sight, or on presentation; or |
| (b) | if no time for payment is expressed therein. |
| (2) | If a bill is accepted or indorsed when it is overdue, it shall, as regards the acceptor who so accepts or any indorser who so indorses it, be deemed to be a bill payable on demand. |