Bills of Exchange Ordinance

(1)
A bill is payable at a determinable future time within the meaning of this Ordinance which is expressed to be
payable—
(a)
at a fixed period after date or sight;
(b)
on or at a fixed period after the occurrence of a specified event which is certain to happen, though the time of happening may be uncertain.
(2)
An instrument expressed to be payable on a contingency is not a bill, and the happening of the event does not cure the defect.
[cf. 1882 c. 61 s. 11 U.K.]