| (1) | Subject to the provisions of this chapter, and except as by this section provided, the provisions of this Act relating to bills apply with the necessary modifications to notes. |
| (2) | In applying those provisions the maker of a note shall be deemed to correspond with the acceptor of a bill, and the first indorser of a note shall be deemed to correspond with the drawer of an accepted bill payable to drawer's order. |
| (3) | The following provisions as to bills do not apply to notes, namely, the provisions relating to— |
[Sub-section (3) substituted by section 43 of Act 56 of 2000.]
