Frederick Mortensen Hinch Edward Mills John.

American notary and commissioner of deeds manual: the general and statutory ... online

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than the day following its maturity. (2) If it is to be presented in
some other place than the place where it was protested, then it must
be forwarded within the time specified in section 104.

Sec. 169. Delay ezcnssd— The provisions of section 81 apply where
there is delay in making presentment to the acceptor for dishonor or
referee in case of need.

Sec. 170. When dishonored nnist be protested—When the bill is
dishonored by the acceptor for honor it must be protested for nonpay-
ment by hiuL



ABTICLB VL
PAYMENT FOB HONOR.

Bee. 171. Who may make— where a bill has been protested for non-
payment, any person may intervene and pay it supra protest for the
honor of any person liable thereon or for the honor of the person for
whose account it was drawn.

Sec. 172. How made— The payment for honor supra protest in order
to operate as such and not as a mere voluntary payment must be at-



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§ 450] HBQOTIABLB INSTRUMlfiKTS. 313

tested bj a notarial act of honor which may be appended to the pro-
test or from an extension to it.

Bee 173. Dedaratioii beforo payment — The notarial act of honor
mnst be founded on a declaration made by the payer for honor or by
his agent in that behalf declaring his intention to pay the bill for
honor and for whose honor he pays.

Sec. 174. P refere n ca of parties offering to pay— Where two or more
persons offer to pay a bill for the honor of different parties, the person
whose payment wiU discharge most parties to the bill is to be given the
preference.

Sec. 175. Effect on gabaeqnaiit partlea— Where a bill has been paid
for honor, all' parties subsequent to the party for whose honor it is
paid are discharged, but the payer for honor is subrogated for, and
succeeds to, both the rights and duties of the holder as regards the
party for whose honor he pays and all parties liable to the latter.

Sec 176. Wliere tlw hcdder of a bill refoses to receive payment
supra protest^ he loses his right of recourse against any party who
would have been discharged by such payment.

Sec. 177. Bights of payer for honor — ^The payer for honor on paying
to the holder the amount of the bill, and the notarial expenses incident
to its dishonor, is entitled to receive both the bill itself and the protest.

ABTICLB Vn.
BILLS IN A SET.

Sec. 178. Bills In set coastitiite one billr-Where a bill is drawn
in a set, each part of the set being numbered and containing a refer-
ence to the other parts, the whole of the parts constitute one bill.

Sec. 179. Bights of holders of diffecent parts— Where two or more
parts of a set are negotiated to different holders in due course, the
holder whose title first accrues is, as between such holders, the true
owner of the bill. But nothing in this section affects the rights of a
person who in due course accepts or pa3rs the part first presented to him.

Sec. 180. Where the holder of a set Indorses two or more parts to
different perscms he is liable on every such part, and every indorser
subsequent to him is liable on the part he has himself indorsed, as if
such parts were separate bills.

Sec 181. The accq;>tance may bo written on any part and it must
ba written on one part only. If the drawee accepts more than one
part, and such accepted parts are negotiated to different holders in
due course, he is liable on every such part as if it were a separate bilL

Sec. 182. When the acceptor of a bill drawn in a set pays it without
requiring the part bearing his acceptance to be delivered up to him,
and that part at maturity is outstanding in the hands of a holder in
due course, he is liable to the holder thereon.

Sec. 183. Payment of one discharges all — Except as herein otherwise
provided, where any one part of a bill drawn in a set is discharged by
payment or otherwise, the whole bill is discharged.



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314 N0TABIE8 PUBLIO. [§ 451

TITLE HL
PB0MIS80BY NOTES AND CHECKS.

See. 184. Kote deflned — A negotiable promissory note within the
meaning of this act is an unconditional promise in writing made by
one person to another signed by the maker engaging to pay on demand
or at a fixed or determiable future time, a sum certain in money to
order or to bearer. Where a note is drawn to the maker's own order^
it is not complete until indorsed by him.

Sec. 185. Ohack deiflnad^-A check is a bill of exchange drawn on a
bank payable on demand. Except as herein otherwise provided, the
provisions of this act, applicable to a bill of exchange payable on de-
mand, apply to a check.

Sec. 186. A clieck most be presented for payment within a reason-
able time after its issue or the drawer will be discharged from liability
thereon to the extent of the loss caused by the delay.

See. 187. Where a clieck la certified by tlie bank on which it it
drawn, the certification is equivalent to an acceptance.

Sec. 188. Wliece tbe holder of a check procures it to be accepted
or certified the drawer and all indorsers are discharged from liability
thereon.

Sec. 189. A check of itself does not operate as an assignment of
any part of the funds to the credit of the drawer with the bank, and
the bank is not liable to the holder, unless and until it accepts or
certifies the check.

6TATUT0BY REQUIBEMBNTS.

I 451. Alabama— PROTEST— See Uniform Negotiable Instruments
Law. Damages cover exchange in this country. For foreign currency
add exchange. DAYS OF GRACE— abolished. HOLIDAYS— Sunday,
Jan. 1, Jan. 19, Feb. 22, April 13, April 26, June 3, July 4, first Mon-
day in September, Thanksgiving Day. If any fall on a Sunday, then
the following Monday; paper entitled to days of grace, or subject to
protest falling due on a holiday, must be taken as due on the next suc-
ceeding day. LEGAL INTEREST- 8 per cent.

I 462. Alaska— PROTEST— bills of exchange within United States
but out of district Braw interest, 5 per cent damages, costs and charges
of protest. When payable without limits of United States, protest
subjects party liable for contents of bill, damages at rate of 10 per
cent, interest and expenses. HOLIDAYS — Sunday, Christmas Day, or
other legal holiday. Thanksgiving Day. DAYS OF GRACE— allowed.

§ 463. Arizona — See Uniform Neogtiable Instruments Law. DAYS
OF GRACE— abolished. HOLIDAYS— Sunday, Jan. 1, Feb. 14, 22,
May 30, July 4, first Monday in September, Oct. 12, Dec. 25, general
election days, Thanksgiving Day, Arbor Day. If any of these fall
on Sunday, the following Monday is observed. Time computed by



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§ 456] KSGOTIABLE IKSTBmCBNTS. 815

excluding first and including last day^ unless a holiday. LEGAL
INTEREST — 6 per cent; but parties may agree in writing for a larger
rate not exceeding 10 per cent.

I 454. Arkansas — See Uniform Negotiable Instruments Law. DAYS
OP GRACE— abolished. HOLIDAYS— Christmas, New Year's Day,
July 4, Thanksgiving Day, Washington's birthday, Labor Day (the first
Monday in September), General Robert E. Lee's birthday (January
19), all general biennial election days, June 3, Jefferson Davis' birth-
day, October 12, Columbus Day (not affecting commercial paper, execu-
tion of instruments nor interfering with judicial proceedings). DAM-
AGES — for protested bills of exchange drawn or negotiated within
the state, for value received. First. If drawn on any person at any
place within the state, 2 per cent on the principal. Second. If payable
in Alabama, Louisiana, Mississippi, Tennessee, Kentucky, Ohio, Indiana,
Illinois, Missouri or any Ohio river point, 4 per cent on the principals
Third. If payable within the United States other than before stated, 5
per cent on the principal. Fourth. If payable without the United
States, 10 per cent on the principal. If for value received, and payable
to order or bearer, drawn on any person at any place within the
state, accepted and protested for nonpayment. First. Drawn by any
person at any place within this state, 2 per cent on principal. Second.
If drawn outside this state but within the United States, 6 per cent on
principal. Third. If drawn outside the United States, at 10 per cent on
principal. In addition, protest fees and interest at 10 per cent per
annum on the principal are allowed from the date of protest until paid.
Right of action allowed if properly protested. LEGAL INTEREST—
6 per cent; can in writing contract for 10 per cent.

I 455. California — See Uniform Negotiable Instruments Law. DAYS
OP GRACE— abolished. HOLIDAYS— Sunday, 1st day of January, 12th
and 22nd days of February, 80th day of May, 4th day of July, 9th day
of September, first Monday of September, 12th day of October, 25th
day of December, first days of election in the state, every fast. Thanks-
giving or holiday appointed by the President of the United States or
the governor of the state. If these days fall on a Sunday, then the
next day, Monday, is a holiday. LEGAL INTEREST— 7 per cent; a
higher rate permitted by agreement if in writing.

I 456. Colorado— See Uniform Negotiable Instruments Law. HOLI-
DAYS — ^in cities of 100,000 population, during June, July and Aug.,
Saturday after 12 o'clock, Sunday, Jan. 1, Feb. 12, 22, May 30,
July 4, Dec. 25, Thanksgiving Day, first Monday in September, Novem-
ber, election day. If any of these days fall on a Sunday, then the
Monday following. When the day of maturity falls upon Sunday, a
holiday or part holiday, the instrument is payable on the next succeed-
ing business dky. If payable on Saturday it must be presented on the
next succeeding business day, except, when payable on demand, may, at
the option of the holder, be presented for payment before 12 o'clock



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316 NOTARIES PUBLIC. [J 467

BOOH. The daj of date is not a part of the time. LEGAL INTBBE8T
—8 per cent.

I 467. Oonnoeticut — See Uniform Negotiable Initmmentf Law.
HOLEDAYS— Jan. 1, Feb. 12, 22, May 30, July 4, Sept. first Monday,
Oct. 12y Dec. 25, Sunday, or any day appointed by the President or
governor, as Thanksgiving or fasting or religions observance. When
any of these come on Sunday, the following Monday it to be observed.
On Saturday of each week banking hours end at 12 o'clock. LEGAL
INTBBEST—e per cent.

§ 466. Delaware— See Uniform Negotiable Instruments Law. HOLI-
DAYS— Jan. 1, Feb. 12, 22, May 30, July 4, first Monday in September,
Oct. 12, Thanksgiving Day, Dec. 25, general election day, and in Kent
and New Castle counties, Saturday afternoon after 12 o'clock is a
legal holiday. If any holiday falls on Sunday, the following Monday
is observed. DAYS OF GBACE— abolished. DAMAGES— on foreign
protested bills of exchange, 20 per cent. LEGAL INTEBEST— 6 per
cent.

I 460. District of Columbia— See Uniform Negotiable Instruments
Law. HOLIDAYS— Jan. 1, Feb. 22, May 30, July 4, first Monday in
September, Thanksgiving Day, Dec. 25, Presidential Inauguration Day,
Saturday afternoon after 12 o'clock noon. Any holiday falling on
Sunday, the following Monday is observed. LEGAL INTEBEST— 6
per cent.

I 460. Florida— See Uniform Negotiable Instruments Law. HOLI-
DAYS— Sunday, Jan. 1, 19, Feb. 22, April 26, June 3, July 4, first
Monday in September, second Friday in October (Farmer's Day), gen-
eral election day. Thanksgiving Day, Nov. 11 (Liberty Day), Dec 25,
Good Friday, and Shrove Tuesday in cities or towns having carnival
associations. Whenever any of these days fall on a Sunday, the follow-
ing Monday is to be observed. All bills, notes and checks falling due
on these days are presentable the succeeding day. DAMAGES — on
foreign protested bills, 5 per cent. LEGAL INTEBEST — 8 per cent.
ACTION ON NOTES— limited to 5 years.

I 461. Goorglar-INDOBSEB— anyone indorsing or transferring a
negotiable instrument may limit their responsibility by express re-
strictions. Every transferer of a negotiable instrument warrants, un-
less otherwise agreed by the parties, that he is the lawful holder, and
that the instrument is genuine. If there are several indorsers each is
liable to subsequent ones, or the indorser will not be held liable there-
on; but it shall not be necessary to protest in order to bind in-
dorsers, except, when a paper is made payable on its face at a bank or
banker's office, or when it is discounted at a bank or banker's office, or
when it is left at a bank or banker's office for collection. Damages on
bills of exchange payable out of this state and in the United States,
when returned protested for nonacceptance or nonpayment, the holder



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§ 463] NBGOTIABLE IKSTBUHENTS. 317

shall be entitled to reeover of the drawer and indoreers in the first
ease and the acceptor also in the latter case, in addition to the prin-
cipal, interest and protest fees, 5 per cent damages on the principal. If
without the United States, 10 per cent. The indorser may be sned in the
same action, and in the same county with the maker, or drawer, or ac-
ceptor. The holder of a negotiable instrument receiving the same before
due, without notice of any defect or defense, shall be protected from any
defenses set up by the maker, acceptor or indorser, except non ett
factum, gambling or immoral and illegal considerations, or fraud in its
procurement. PB0TE8T AND NOTICE— when bills of exchange and
promissory notes are made for negotiation or intended to be nego-
tiated at a chartered bank, and are not paid at maturity, notice of non-
payment and of the protest for nonpayment or nonacceptance must be
given to the indorsers within a reasonable time, either personally or by
post (if the residence of the indorser be known). DAYS OF GBAGE —
aboUshed. HOLIDAYS— Jan. 1, 19, Feb. 22, April 26, June 3, July 4,
Dec. 25, first Monday in September, Thanksgiving Day or any other
declared by the law of Georgia to be a public holiday, shall as regards
the presenting for payment or acceptance, and the protesting and
giving notice of the dishonor of bills of exchange, bank checks and
promissory notes, be treated and considered as the first day of the
week, called Sunday, and as public holida3rs; such bills, checks and
notes, otherwise presentable on said days, shall be deemed to be pre-
sentable on the secular or business day thereafter. Paper payable on
demand is due immediately. When no time is specified for the pay-
ment of a bill or order, it is due as soon as presented and accepted.
DAMAGES — on bills payable outside the state, protested, 5 per cent;
outside the United States, 10 per cent in addition to principal, in-
terest and protest fees. LEGAL INTEREST — 7 per cent; may permit
8 per cent in writing. ACTION ON NOTES— limited to 6 years.

i 462. Hawaiian IslaiidA— HOLIDAYS— Jan. 1, Feb. 22, May 30, June
11, July 4, first Monday in September, Dec. 26. DAYS OF GBACE—
three allowed in all bills. If they faU on Sunday, then only two days.
LEGAL INTEREST — 6 per cent; on written contract 1 per cent p*
month is permitted.

§ 468. Idaho — See Uniform Negotiable Instruments Law. PRE-
SENTMENT FOR ACCEPTANCE— must be made, where the bill is
payable after sight or in any other case where presentment for ac-
ceptance IS necessary in order to fix the maturity of the instrument; or
where the bill expressly stipulates that it shall be presented for accept-
ance; or where the bill is drawn payable elsewhere than at the resi-
dence or place of business of the drawee. In no other case is present-
ment for acceptance necessary in order to render any party to the bill
liable. PROTEST — ^may be made by a notary public; or by any re-
spectable resident of the place where the bill is dishonored, in the
presence of two or more credible witnesses. Must be made on the
day of its dishonor unless delay is excused as provided for by the law.
Protest must be made where the bill is dishonored unless drawn pay-



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318 NOTARIES PUBUO. [§ 464

able at tb« place of buiiness or residence of fome peraon other than
the drawee. Where dishonored by nonacceptance, it must be protested
for nonpajment at the place where it is expressed to be payable, and
no other presentment for payment to, or demand on, the drawee is neces-
sary. A bill protested for nonacceptance may be protested for non-
payment. Delay in noting or protesting is excused when delay is
caused by circumstances beyond the control of the holder and not
imputable to* his default, misconduct or negligence. When the delay
ceases the bill must be protested with reasonable diligence. NOTICE
^-of dishonor must be given to the drawer and to each indorser; those
to whom it is not given are discharged. It may be given by or on
behalf of ihe' holder, or by or on behalf of any party to the instru-
ment who might be compelled to pay it to the holder, and who, upon
taking it up, would have a right to reimbursement from the party to
whom the notice is given. DAYS OF GBACE— abolished. HOLIDAYS
— Sunday, Jan. 1, Feb. 22, May 30, June 16, July 4, first Monday in
September, Oct. 12, Dec. 25, election days throughout the state, Thanks-
giving or fast days appointed by the President or governor. Any act
of a secular nature falling upon these days may be performed upon
the next business day. LEGAL INTEREST — 7 per cent; permit 10
per cent on written contract. ACTION ON NOTES— limited to 5 years.

I 464. niinoia— See Uniform Negotiable Instruments Law. HOLI-
DAYS — the first day of January, New Year's Day; twenty-second day
of February, Washington's Birthday; thirtieth day of May, Decoration
Day; Fourth of July, Declaration Day; the twelfth day of October;
twenty-fifth day of December, Christmas Day; first Monday of Sep-
tember, Labor Day; twelfth day of February, Lincoln's birthday;
first day of each week, Sunday; any day appointed by the governor
of the state or the President of the United States, as a day of fast, or
Thanksgiving; Saturday, from 12 o'clock noon to midnight in cities
of 200,000 are declared legal holidays. All notices falling due or matur-
ing on these days shall be deemed as due on the day following, and
when two or more of these days come together, or immediately succeed
«ach other, then upon the day following the last of such days. DAYS
OF GBACE— abolished. MONEY NOTES— the rights of the lawful
holders of promissory notes payable in money, and the liabilities of all
the parties to or upon said notes shall be made the same as that of
like parties to inland bills of exchange according to the custom of
merchants. Every assignor of every other note, bond, bill or other
instrument in writing shall be liable to the action of the assignee or
lawful holder thereof, if such assignee or lawful holder shall have used
due diligence by the institution and prosecution of a suit against the
maker thereof, for the recovery of the money or property due thereon,
or damages in lieu thereof. - But if the institution of such suit would
have bee4 unavailing, or the maker had absconded or resided without
or had left the state when such instrument became due, such assignee
or holder may recover against the assignee as if due diligence by suit



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§ 467] NBGOTIABLB INSTBUICENTS. 319

had been used. Personf severally liable upon bills of exchange or prom-
issory notes, payable in money, may all, or any of them sererally, be
included in the same suit at the option of the plaintiff, and judgment
rendered in said suit shall be without prejudice to the rights of the
several defendants as between themselves. LEGAL INTEBEST — 5 per
cent; permit 7 per cent in writing. ACTION ON NOTES— limited to
10 years.

I 465. Indiana — See Uniform Negotiable Instruments Law. DAYS
OF GBACE— abolished. HOLIDAYS— Sunday, Jan. 1, July 4. Dec. 25,
Thanksgiving Day, Feb. 12, 22, May 30, first Monday in September,
Oct. 12, general, national or state election days. When legal holiday
comes on Sunday, day following is observed. ATTORNEY'S FEES —
agreements as to attorney's fees depending upon conditions as set forth
in any bill of exchange, acceptance, draft, or other written evidence of
indebtedness, are illegal and void. DAMAGES — on protest bills drawn
or negotiated in this state, on persons in other states, 5 per cent.
Outside the United States, 10 per cent. Interest from date of protest.
If upon notice of protest and demand, the principal is paid, the cost
of protest only to be charged. Holder must have given a valuable
consideration. Damages do not apply to notes discounted at bank and
protested for nonpayment. LEGAL INTEREST — 6 per cent; permit 8
in writing. ACTION ON NOTES— limited to 10 years. On any bill
drawn or negotiated in this state, and payable at any place without
the state, but in regard to which it shall appear that it was not to
be presented for acceptance or payment at that place^ if means were
provided for its discharge within the state, no damages or charges for
protest shall be allowed. The holder of any note or bill of exchange,
negotiable by the law merchant or by the law of this state, may institute
one suit against the whole or any number of the parties liable to such
holder, but shall not, at the same term of court, institute more than
one suit on said note or bUl; provided, that no judgment shall be ren-
dered in such suit against any maker of such note, drawer or acceptor
of such bill unless suit is brought in the county where one or more of
such makers, drawers or acceptors reside at the time such suit is begun.

I 466. Iowa — See Uniform Negotiable Instruments Law. DAYS
OF GRACE — abolished, only demand may be made on any of the
three days following maturity. HOLIDAYS — Sunday, Jan. 1, Feb. 22,
May 30, July 4, first Monday in September, Thanksgiving Day, Dec. 25,
general election day. Bills of exchange, checks, promissory notes and
any bank or mercantile paper falling due on these days are due on the
succeeding day. LEGAL INTEREST— 6 per cent; permit 8 per cent
in writing. ACTION ON NOTES— limited to 10 years.

I 467. Eansas^-See Uniform Negotiable Instruments Law. DAYS
OF GRACE— abolished. HOLIDAYS— Sunday, July 4, Dec. 25, Jan. 1,
Feb. 22, May 30, Thanksgiving Day and the first Monday in Septem-
ber, are legal holidays. If any of these fall upon a Sunday, the day



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320 K0TAEI£8 PUBUC. [§ 468

•ueeaeding will be observed. LEGAL INTERB8T — 6 per cent, but
parties may etipolate not to exceed 10 per cent. ACTION ON NOTES
— limited to 5 jears.

I 468. Kemtacky — See Uniform Negotiable Instromente Law.
DAYS OF OBACE— abolished. HOLIDAYS— Jan. 1, Feb. 12, 22, May
30, July 4, first Monday in September, Oct. 12, Dec. 25, Thanksgiving
Day, and shall be treated as Sunday. If any of these fall on a Sunday,
the day following shall be observed. All notes, bills, drafts, checks,
etc., falling due on these days may be presented for acceptance and
payment, and other action, on the Saturday previous. LEGAL IN-
TEBEST— per cent. ACTION ON NOTES— limited to 6 years.

f 469. Tioiilriaaa — See Uniform Negotiable Instruments Law. No
obligations for the payment of money, made within this state, shall be
received as evidence of a debt when the whole sum shall be expressed
in figures, unless the same shall be accompanied by proof that it was
given for the sum expressed. The cents may be in figures. PBOTE8T
— New Orleans notaries protest throughout the parish. If no notary
can be found, protest may be made in the presence of two witnesses,
residents of the parish, they to certify and subscribe to same. Notaries
in New Orleans can appoint deputies to assist them, notary to be re-
sponsible for their acts. The certificate to state demand, manner, cir-
cumstances, manner of service of notice, etc. Same to be evidence
of the facts stated. NOTICE — of protest to be mailed to parties
residing elsewhere may be addressed to the place indicated on the
bill or note, if no other address is known. DAYS OF GBACE —
abolished. HOLIDAYS— Jan. 1, 8, Feb. 22, Mardi Gras, in New Or-
leans, July 4^ Dec. 25, Sunday, June 3, Nov. 1, Thanksgiving Day (as
designated by the President), first Monday in September, Oct. 12,
Saturday after 12 o'clock in cities and towns over 10,000, and Good
Friday. Bills falling due on these days shall be deemed due the fol-
lowing business day. DAMAGES — on protested bills — if drawn and
payable in foreign countries, $10 per hundred; if drawn and payable
in any other state in the United States, $5 per hundred. Damages are
in lieu of interest, protest, and all other charges, but the holder shall
be entitled to demand and recover lawful interest and damages from



Online LibraryFrederick Mortensen Hinch Edward Mills JohnAmerican notary and commissioner of deeds manual: the general and statutory ... → online text (page 38 of 50)