1Mercantile Law Amendment Act 1856 (Imp)

CrestWestern Australia

Mercantile Law Amendment Act 1856 (Imp)

Western Australia

Mercantile Law Amendment Act 1856 (Imp)

Contents

3. Consideration or guarantee need not appear by writing 1

4. A surety who discharges the liability to be entitled to assignment of all securities held by the creditor 2

5. Acceptance of a bill inland or foreign to be in writing on it, and signed by the acceptor or his agent 2

6. What are to be deemed ‘inland bills’ 3

7. With reference to the repairs of ships, every port within the United Kingdom, etc., a home port 3

8. Short title 3

9. Extent of Act 3

Notes

Compilation table 4

Western Australia

Mercantile Law Amendment Act 1856 (Imp)

An Act to amend the Laws of England and Ireland affecting Trade and Commerce. 3

Preamble

Whereas inconvenience is felt by persons engaged in trade by reason of the laws of England and Ireland being in some particulars different from those of Scotland in matters of common occurrence in the course of such trade, and with a view to remedy such inconvenience is it expedient to amend the laws of England and Ireland as hereinafter is mentioned:

Be it enacted by the Queen’s most Excellent Majesty, by and with the advice and consent of the Lords Spiritual and Temporal, and Commons, in this present Parliament assembled, and by the authority of the same, as follows:—

[1‑2. Deleted: WA by 59 Vict. No. 41 s. 58.] 4

3. Consideration or guarantee need not appear by writing

No special promise to be made by any person after the passing of this Act to answer for the debt, default, or miscarriage of another person, being in writing, and signed by the party to be charged therewith or some other person by him thereunto lawfully authorised, shall be deemed invalid to support an action, suit, or other proceeding to charge the person by whom such promise shall have been made, by reason only that the consideration for such promise does not appear in writing, or by necessary inference from a written document.

[4. Deleted: WA by 59 Vict. No. 23 s. 4.] 5

5. A surety who discharges the liability to be entitled to assignment of all securities held by the creditor

Every person who, being surety for the debt of duty of another, or being liable with another for any debt or duty, shall pay such debt or perform such duty, shall be entitled to have assigned to him, or to a trustee for him, every judgment, specialty, or other security which shall be held by the creditor in respect of such debt or duty, whether such judgment, specialty, or other security shall or shall not be deemed at law to have been satisfied by the payment of the debt or performance of the duty, and such person shall be entitled to stand in the place of the creditor, and to use all the remedies, and, if need be, and upon a proper indemnity, to use the name of the creditor, in any action or other proceeding, at law or in equity, in order to obtain from the principal debtor, or any co‑surety, co‑contractor, or co‑debtor, as the case may be, indemnification for the advances made and loss sustained by the person who shall have so paid such debt or performed such duty, and such payment or performance so made by such surety shall not be pleadable in bar of any such action or other proceeding by him: