Hibernian Bank Ltd v Gysin & Hanson The plaintiff bank was the holder for value of a bill of exchange drawn for £500. The defendants, in the course of their business with the drawers, the Irish Casing Co Ltd accepted the alleged bill, due 3 months after date, and made payable to the order of the company “only.â€ It was also crossed “not negotiable.â€ At the due date the drawers had become indebted to the acceptors in a sum greater than the value of the bill. On presentation, the defendants instructed the bank at which it was payable not to pay, claiming a right to set off the balance due to them.