Section 18: Time for acceptance.

(1) A bill may be accepted-
(a) before it has been signed by the drawer or while otherwise incomplete;
(b) when it is overdue or after it has been dishonoured by a previous refusal to accept or by non-payment.
(2) When a bill payable after sight is dishonoured by non-acceptance and the drawee subsequently accepts it, the holder in the absence of any different agreement is entitled to have the bill accepted as of the date of first presentment to the drawee for acceptance.