4Interpretation of terms

4 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.