(3)"Bill of exchange payable on demand". - "bill of exchange payable on demand" includes -(a)an order for the payment of any sum of money by a bill of exchange or promissory note, or for the delivery of any bill of exchange or promissory note in satisfaction of any sum of money, or for the payment of any sum of money out of any particular fund which may or may not be available, or upon any condition or contingency which may or may not be performed or happen;(b)an order for the payment of any sum of money weekly, monthly or at any other stated periods; and(c)a letter of credit, that is to say, any instrument by which one person authorises another to give credit to the person in whose favour it is drawn;
