Commonwealth Consolidated Acts

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Interpretation of terms

                   In this Act, unless the context otherwise requires:

"Acceptance" means an acceptance completed by delivery or notification.

"Action" includes counter-claim and set-off.

"Australasia" means Australia, and any Territory, New Zealand, and the Fiji Islands.

"Banker" includes a body of persons, whether incorporated or not, who carry on the business of banking.

"Bankrupt" means any person whose estate is vested in a trustee or assignee under the law for the time being in force relating to bankruptcy or insolvency.

"Bearer" means the person in possession of a bill or note which is payable to bearer.

"Bill" means bill of exchange.

"Delivery" means transfer of possession, actual or constructive, from one person to another.

"Holder" means the payee or indorsee of a bill or note who is in possession of it, or the bearer thereof.

"Indorsement" means an indorsement completed by delivery.

"Issue" means the first delivery of a bill or note, complete in form, to a person who takes it as a holder.

"Note" means promissory note.

"Person" includes a body of persons whether incorporated or not.

"Value" means valuable consideration.

"Written includes printed, and writing" includes print.

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