Commonwealth Consolidated Acts

BILLS OF EXCHANGE ACT 1909 - SECT 15

             (1)  A bill is payable on demand:

                     (a)  which is expressed to be payable on demand, or at sight, or on presentation; or

                     (b)  in which no time for payment is expressed.

             (2)  Where 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 a bill payable on demand.