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Securities given for considerations arising out of illegal transactions not to be void, but to be deemed to have been given for an illegal consideration. 1.] ... every note, bill, or mortgage which if this Act had not been passed would, by virtue of the said several lastly hereinbefore mentioned Acts or any of them, have been absolutely void, shall be deemed and taken to have been made, drawn, accepted, given or executed for an illegal consideration; and the said several Acts shall have the same force and effect which they would respectively have had if, instead of enacting that any such note, bill, or mortgage should be absolutely void, such Acts had respectively provided that every such note, bill, or mortgage should be deemed and taken to have been made, drawn, accepted, given, or executed for an illegal consideration: Provided always, that nothing herein contained shall prejudice or affect any note, bill, or mortgage which would have been good and valid if this Act had not been passed. S.2 rep. by 1922 c.19 s.1. Ss.3, 4 rep. by SLR 1874
© 1835 Crown Copyright
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