may or may not be available, or upon any condition or contingency which may or may not be performed or happen, if the same shall be made payable to the bearer, or to order, and if the same shall be definite and certain, and not amount in the whole to twenty pounds: where they are not made payable to the bearer, or to order, or where the sum is indefinite, or amounts to 20%., they are exempt from note duties, but liable to such duties as may attach thereon as agreements or otherwise.

And all receipts for money deposited in any bank, or in the hands of any banker or bankers, which shall contain any agreement or memorandum importing that interest shall be paid for the money so deposited.

All other instruments bearing in any degree the form or style of promissory notes, but which in law shall be deemed special agreements, except those expressly directed to be deemed promissory notes, shall be exempt from the duties on notes, but liable to the duties which may attach thereon as agreements or otherwise.

Sect. 9.

Reserving interest from the date of a bill or note will not vary the stamp ; the stamp is to be according to the sum due at the time the bill or note is given. (18)

(18) Pruessing v. Ing, 4 Barnew. and Ald. 204. In an action on a note at three months for 30l., with interest from the date

Sect. 10. -A note payable two months after sight, if those two months, exclusive of the days of grace, exceed sixty days, requires the same stamp as a bill exceeding sixty days at sight. (19) A bill payable at sight is not to be considered as a bill payable on demand. (20)

Sect. 11. And giving a false date so as to make a note or bill, which really exceeds two months

thereof, objection was taken at the trial that it was only upon a stamp applicable to notes for a sum not exceeding 30.; whereas this being for 30l. and interest, was, in substance, a note for 301. 7s. 6d. But on motion for nonsuit, the court were of opinion that the stamp was to be regulated by the sum due at the time the note was given, the principal without interest; and rule refused.

(19) Sturdy v. Henderson, 4 Barnew. and Ald. 512. Action on note for 400l. payable two months after sight: nonsuit, because it had not a stamp required for note payable at more than sixty days after sight: motion for new trial, on the ground that it was, in substance, at two months after date; for that the drawing it was having sight thereof, and it would be payable without the maker's having further sight thereof. But it being suggested that bank-post bills at seven days' sight, which are really notes, do not become payable till after they have been presented for acceptance, and a further term of seven days and days of grace have elapsed, the court thought this note would require a new presentment for sight, and was therefore properly a note after sight, not after date; and rule refused.

(20) J. Anson v. Thomas, B. R. T. 24 Geo. 3. In an action on an inland bill, the question was, whether it was included under an exception in the Stamp Act of 23 G. 3. c. 49. § 4. in favour of bills payable on demand, and the court held it was not, and Buller J. mentioned a case before Willes C. J. in London, in which a jury of merchants was of opinion that the usual days of grace were to be allowed on bills payable at sight.

after date, or sixty days after sight, the appearance as if there were no such excess, subjects to a penalty of 1001. unless it have the stamp for such excess. (20)

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Sect. 12. Provided a bill or note bear a stamp of the proper denomination, it is now (21) no ground of objection to it, that it is of greater value than that required by law: nor is it, since 55 Geo. 3., though it have a stamp of a different denomination, unless such stamp is specially appropriated to some

(20) By 55 G. 3. c. 184. § 12. it is enacted, That if any person or persons shall make and issue, or cause to be made and issued, any bill of exchange, draught or order, or promissory note, for the payment of money at any time after date or sight, which shall bear date subsequent to the day on which it shall be issued, so that it shall not in fact become payable in two months if made payable after date, or in sixty days if made payable after sight next after the day on which it shall be issued, unless the same shall be stamped for denoting the duty thereby imposed on a bill of exchange and promissory note for the payment of money at any time exceeding two months after date or sixty days after sight, he, she or they shall, for every such bill, draught, order or note, forfeit the sum of one hundred pounds.

(21) By 43 G. 3. c. 127. § 6. it is enacted, That every instrument, matter or thing, although stamped or impressed with any stamp of greater value than the stamp required by law, shall be valid and effectual; provided such stamp shall be of the denomination required by law for such instrument, matter or thing, any statute, law or usage to the contrary notwithstanding.

N. See the cases of Farr v. Price, 1 East. Rep. 55., and Taylor v. Hague, 2 East. Rep. 414., in which stamps were objected to on the ground which this act has now removed; see also Chamberlain v. Porter, 1 New Rep. 30.

other instrument, by having its name on the face thereof. (22)

And where a bill or note is upon a stamp so specially appropriated, it may, perhaps, be stamped under 37 G. 3. c. 136. § 5. on payment of the duty and 40s. penalty before it has become payable, and on payment of the duty and 107. afterwards. (23)

(22) By 55 Geo. 3. c. 184. § 10. it is enacted, That from and after the passing of this act, all instruments for or upon which any stamp or stamps shall have been used of an improper denomination or rate of duty, but of equal or greater value in the whole with or than the stamp or stamps which ought regularly to have been used thereon, shall, nevertheless, be deemed valid and effectual in the law; except in cases where the stamp or stamps used on such instruments shall have been specially appropriated to any other instrument by having its name on the face thereof.

(23) By 37 Geo. 3. c. 136. § 5. (incorporated with 48 Geo. 3. c. 149. by § 3. and 8. of that act) after reciting that part of 31 Geo. 3. c. 25. § 19. which declares that it shall not be lawful for the commissioners to stamp any vellum, &c. after any bill, &c. is written thereon, it is enacted, That it shall and may be lawful for any person or persons who shall be the holder or holders of any bill of exchange, promissory note, or other note, draught, or order, made after the passing of that act, and liable to any stamp duty by virtue of the said recited act, which shall be stamped with a stamp of a different denomination than is required by the said act, if the same shall be of equal or superior value to the stamp required, to produce the same, or cause the same to be produced, within the respective times thereinafter mentioned, to the commissioners appointed to manage said duties, at the head office of stamps in Middlesex, or to such officer or officers as the said commissioners, or the major part of them, shall, by writing under their hands, appoint for such purpose; and it shall and may be lawful for such commissioners to direct the proper officer or officers, and such officer

G

the

Sect. 13. The paper, &c. on which a bill or note is written (though it might formerly have been stamped at any time, on paying a penalty), ought not now, excepting in the case above mentioned,

or officers, is and are hereby required, upon payment of the duty payable on such vellum, parchment or paper, by the said recited act, and such penalty as is thereinafter mentioned, over and above the said duty, to mark or stamp such bill of exchange, promissory note, or other note, draught or order, with the proper mark or stamp, and to give a receipt for the duty and penalty so paid, on the back of such bill of exchange, promissory note, or other note, draught or order so stamped; and every such bill of exchange, promissory note, or other note, draught or order so stamped, shall have, and be deemed of, the like force and validity in the law, as if the same had been duly stamped, according to the directions of the said recited act; and all and every person or persons procuring such bill of exchange, promissory note, or other note, draught or order, to be stamped as directed by this act, shall be, and is and are, hereby indemnified, freed and discharged, from and against all penalties and forfeitures incurred by reason of such bill of exchange, promissory note, or other note, draught or order, not having been duly stamped, according to the directions of the said

And by s. 6. it is enacted, "That if any such bill of exchange, promissory note, or other note, draught or order, shall be produced to the said commissioners before the same shall be payable, according to the tenor and effect thereof, the same shall be stamped, on payment of the said duty, and the penalty of 40s.; but in case such bill of exchange, promissory note, or other note, draught or order, shall be payable, according to the tenor and effect thereof, before the production thereof to the siad commissioners, for the purpose before mentioned, then the same shall not be stamped, unless on payment of the duty, and the sum of ten pounds for the said penalty."