Section 20Part 2 — Bills of Exchange
Inchoate instruments
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Where a simple signature on a blank stamped paper is delivered by the signer in order that it may be converted into a bill, it operates as a prima facie authority to fill it up as a complete bill for any amount the stamp will cover, using the signature for that of the drawer, the acceptor or an indorser; and, in like manner, when a bill is wanting in any material particular, the person in possession of it has a prima facie authority to fill up the omission in any way the person in possession thinks fit.
In order that any such instrument, when completed, may be enforceable against any person who became a party thereto prior to its completion, it must be filled up within a reasonable time, and strictly in accordance with the authority given. Reasonable time for this purpose is a question of fact:
Provided that if any such instrument, after completion, is negotiated to a holder in due course, it shall be valid and effectual for all purposes in the holder’s hands, and the holder may enforce it as if it had been filled up within a reasonable time, and strictly in accordance with the authority given.