Section 10: Bill payable on demand.

(1) A bill is payable on demand-
(a) which is expressed to be payable on demand or at sight or on presentation; or
(b) in which no time for payment is expressed.
(2) Where a bill is accepted or endorsed when it is overdue, it shall, as regards the acceptor who so accepts or any endorser who so endorses it, be deemed a bill payable on demand.