This chapter discusses the history of negotiable instruments in South Africa, focusing on those capita which have a particularly significant or interesting history. These are: the protection of the bona fide transferee ex causa onerosa; the position of the aval; the interpretation of ‘value’ in the Bills of Exchange Act; and the liability of the collecting bank. Before dealing with these topics, however, some comments on the Roman-Dutch wisselrecht are presented. The main problems experienced in the South African legal theory of bills of exchange are generally a consequence of the wholesale...

This chapter discusses the history of negotiable instruments in South Africa, focusing on those capita which have a particularly significant or interesting history. These are: the protection of the bona fide transferee ex causa onerosa; the position of the aval; the interpretation of ‘value’ in the Bills of Exchange Act; and the liability of the collecting bank. Before dealing with these topics, however, some comments on the Roman-Dutch wisselrecht are presented. The main problems experienced in the South African legal theory of bills of exchange are generally a consequence of the wholesale incorporation of English legislation. One can also glean from this history the impressive ability of the Roman-Dutch law to grow with the times. As a consequence, there is little doubt that Roman-Dutch law will continue developing in, and contribute to, the development of the new South Africa.