Section I. WHEREAS it is expedient to extend to the Territories under the Government of the East India Company

I. WHEREAS it is expedient to extend to the Territories under the Government of the East India Company the amendments of the Law respecting Bills of Exchange contained in the Statutes 58 Geo. 3 Cap. 93—1 and 2 Geo. 4. C. 78—6 and 7 W. 4. C. 58—2 and 3 W. 4. C. 98; It is hereby enacted, that from and after the first day of May, in the year of our Lord 1840, if any person shall accept a Bill of Exchange payable at any other place than at his own place of residence without further expression in his acceptance such acceptance shall be deemed and taken to be to all intents and purposes a general acceptance. But if the acceptor shall, in his acceptance, express that he accepts the Bill payable at such other place only, and not otherwise or elsewhere such acceptance shall be deemed and taken to be to all intents and purposes, a qualified acceptance of such Bill, and the acceptor shall not be liable to pay such Bill except in default of payment when such payment shall have been duly demanded at such other place.