Hong Kong Ordinances
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BILLS OF EXCHANGE ORDINANCE - SECT 53
Funds in hands of drawee
Liabilities of parties
A bill, of itself, does not operate as an assignment of funds in the hands of
the drawee available for the payment thereof, and the drawee of a bill who
does not accept, as required by this Ordinance, is not liable on the
instrument. [cf. 1882 c. 61 s. 53 U.K.]
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