Page:United States Statutes at Large Volume 31.djvu/1464

1112 ErErY»sIxrH CONGRESS. p sees. Ir. GH. ear. 1901. ·bY W“e“““e‘le- Sec. 1158. BY wrIoM.—Protcst can be made by— First. A notary public; or, Second. By any respectable resident of the place where the bih is dishonored, in the presence of two or more credible witnesses. -wte¤ mane. SEo. 1159. W1IEN ro BE MAI>E.+When a bill is protested, such pro. I test must be made on the day of its dishonor, unless delay is excused as herein provided. `When a bill has been duly noted, the protest may . y be subsequently extended as of the date of `the noting. -wne1e mede. Sec. 1160. W/VHEHE 1vIAI>E.—A bill- must be protested at the place where it is dishonored, except that when a bill drawn payable at the place of business or residence of some person other than the drawee has been dishonored by nonacceptance it must `be protested for nonpayment at the time when it is expressed to be payable, and no further prescntment for payment to or demand on the drawee is necessary. C€P§g;·§§&;<g¤gS1¤§q; Sec. 1161. BILL MAY BE I·IzorEsrED Non BOTII NONAOCEPTANCE AND mgmt, P l NON1’AYMENT.—A bill which has been protested for nonacceptance may be subsequently protested for nonpayment. Segggigye M better Sec. 1162. Pnornsr ron BETTER SECURITY.—WhGfG the acceptor has ` been adjudged a bankrupt or an insolvent, or has made an assignment _for the benefit of creditors, before the bill matures, the holder may cause the bill to be protested for better security against the drawer and indorsers. ,,§§ee“ diepeeeed Sino. 1163. WTIEN DISPENSED wIrH.+Protcst is dispensed with by ` any circumstances which would dispense with notice of dishonor. _ Delay in noting or protesting is excused when delay is caused by cir— cumstances beyond the control of the holder and not imputable to his default, misconduct, or negligence. WVhen the cause of delay ceases to operate the bill must be noted or protested with reasonable diligence. Wh€¤`¤i111<>St- _ Sec. 1161. WHEN BILL LOST, AND so FORTH.—Wb€f€ a bill is lost _ or destroyed or is wrongly detained from the person entitled to hold ‘ it, protest may be made on a copy or written particulars thereof. héiigfepmnee fee Sec. 1165. ACCEPTANCE Eor. HONOR.*~Wh€TG a bill of exchange has —-\Vh€l1I11B.d€. been protested for dishonor by nonacceptance or protested ·for better security and is not overdue, any person not being a party already P liable thereon may, with the consent of the holder, intervene and accept the bill supra protest for the honor of any party liable thereon or for the honor of the person for whose account the bill is drawn; _ The acceptance for honor may be for part only of the sum for which I the bill is drawn, and where there has been an acceptance for honor for one party there may be a further. acceptance by a diucrent person I for the honor of another party. whew mede ‘ Sec. 1166. An acceptance for honor supra protest must be in writing and indicate that it is an acceptance for honor, and must be signed by the acceptor for honor. When deemed for Sec. 1167, Whe're an acceptance for honor does not expressly state Meer ee the d”lW€r‘ for whose honor it is made it is deemed to be an acceptance for the I honor of the drawer. mebinry of ac» SEo. 1168. LIABILITY or AGoErroE ron 1IoNoE.»—Thc acceptor for °°?pt°T` honor is liable to the holder and to all parties to the bill subsequent to ’ the party for whose honor he has accepted. Céegggjement of ee Sec. 1169. The acceptor for honor by such acceptance engages that ·he will on due presentment pay the bill accordingto the terms of his acceptance, provided it shall not have been paid by the drawce, and provided, also, that it shall have been duly presented for payment and protested for nonpayment and notice of dishonor given to him. » %¥;~,§¥;i,§ytCr<g hg¤iU Sec. 1170. W/Vhere a bill payable after sight is accepted for honor pl g `. its maturity is calculated from the date of the noting for nonacceptanoo and not from the date of the acceptance for honor. Pfeieet 1171. WVhere a dishonored bill has been accepted for honor supra protest, or contains a reference in case of need, it must be