GreatNorthCollective/greatnorth-canada-federal-laws-text huggingface dataset:
Bills of Exchange Act — B-4 106
Dispensing with notice re drawer 106 Notice of dishonour is dispensed with as regards the drawer where (a) the drawer and drawee are the same person; (b) the drawee is a fictitious person or a person not having capacity to contract; (c) the drawer is the person to whom the bill is presented for payment; (d) the drawee or acceptor is, as between himself and the drawer, under no obligation to accept or pay the bill; or (e) the drawer has countermanded payment. R.S., c. B-5, s. 107
Bills of Exchange Act — B-4 107
Dispensing with notice re endorser 107 Notice of dishonour is dispensed with as regards the endorser where (a) the drawee is a fictitious person or a person not having capacity to contract, and the endorser was aware of the fact at the time he endorsed the bill; (b) the endorser is the person to whom the bill is presented for payment; or (c) the bill was accepted or made for his accommodation. R.S., c. B-5, s. 108
Bills of Exchange Act — B-4 108
Necessity of protest 108 In order to render the acceptor of a bill liable, it is not necessary to protest it. R.S., c. B-5, s. 109
Bills of Exchange Act — B-4 109
Protest dispensed with 109 Protest is dispensed with by any circumstances that would dispense with notice of dishonour. R.S., c. B-5, s. 110
Bills of Exchange Act — B-4 110
Delay excused 110 (1) Delay in noting or protesting is excused where the delay is caused by circumstances beyond the control of the holder and not imputable to his default, misconduct or negligence. Diligence (2) Where the cause of delay in noting or protesting ceases to operate, the bill must be noted or protested with reasonable diligence. R.S., c. B-5, s. 111
Bills of Exchange Act — B-4 111
Foreign bill, non-acceptance 111 (1) Where a foreign bill appearing on the face of it to be such has been dishonoured by non-acceptance, it must be duly protested for non-acceptance. Non-payment (2) Where a foreign bill that has not been previously dishonoured by non-acceptance is dishonoured by non-payment, it must be duly protested for non-payment. Balance (3) Where a foreign bill has been accepted only as to part, it must be protested as to the balance. Discharge (4) Where a foreign bill is not protested as required by this section, the drawer and endorsers are discharged. R.S., c. B-5, s. 112
Bills of Exchange Act — B-4 112
Protest of inland bill 112 Where an inland bill has been dishonoured, it may, if the holder thinks fit, be noted and protested for non-acceptance or non-payment, as the case may be, but it is not necessary to note or protest an inland bill in order to have recourse against the drawer or endorsers. R.S., c. B-5, s. 113
Bills of Exchange Act — B-4 113
Protest unnecessary 113 Where a bill does not on the face of it appear to be a foreign bill, protest thereof in case of dishonour is unnecessary. R.S., c. B-5, s. 114
Bills of Exchange Act — B-4 114
Subsequent protest for non-payment 114 A bill that has been protested for non-acceptance, or a bill of which protest for non-acceptance has been waived, may be subsequently protested for non-payment. R.S., c. B-5, s. 115
Bills of Exchange Act — B-4 115
Protest for better security 115 Where the acceptor of a bill suspends payment before it matures, the holder may cause the bill to be protested for better security against the drawer and endorsers. R.S., c. B-5, s. 116
Bills of Exchange Act — B-4 116
Acceptance for honour 116 (1) Where a dishonoured bill has been accepted for honour under protest or contains a reference in case of need, it must be protested for non-payment before it is presented for payment to the acceptor for honour, or referee in case of need. Protest for non-payment (2) When a bill is dishonoured by the acceptor for honour, it must be protested for non-payment by him. R.S., c. B-5, s. 117
Bills of Exchange Act — B-4 117
Noting equivalent to protest 117 For the purposes of this Act, where a bill is required to be protested within a specified time or before some further proceeding is taken, it is sufficient that the bill has been noted for protest before the expiration of the specified time or the taking of the proceeding. R.S., c. B-5, s. 118
Bills of Exchange Act — B-4 118
Protest on day of dishonour 118 (1) Subject to this Act, when a bill is protested, the protest must be made or noted on the day of its dishonour. Extending protest (2) When a bill has been duly noted, the formal protest may be extended thereafter at any time as of the date of the noting. R.S., c. B-5, s. 119
Bills of Exchange Act — B-4 119
Protest on copy or particulars 119 Where a bill is lost or destroyed, or is wrongly or accidentally detained from the person entitled to hold it, or is accidentally retained in a place other than where payable, protest may be made on a copy or written particulars thereof. R.S., c. B-5, s. 120
Bills of Exchange Act — B-4 120
Place of protest 120 (1) A bill must be protested at the place where it is dishonoured, or at some other place in Canada situated within five miles of the place of presentment and dishonour of the bill. Where bill returned by post (2) When a bill is presented through the post office and returned by post dishonoured, it may be protested at the place to which it is returned, not later than on the day of its return or the next juridical day. Time of protest (3) Every protest for dishonour, either for non-acceptance or non-payment, may be made on the day of the dishonour, and in case of non-acceptance at any time after non-acceptance, and in case of non-payment at any time after three o’clock in the afternoon, local time. R.S., c. B-5, s. 121
Bills of Exchange Act — B-4 121
Contents of protest 121 A protest must contain a copy of the bill, or the original bill may be annexed thereto, must be signed by the notary making it and must specify (a) the person at whose request the bill is protested; (b) the place and date of protest; (c) the cause or reason for protest; and (d) the demand made and the answer given, if any, or the fact that the drawee or acceptor could not be found. R.S., c. B-5, s. 122
Bills of Exchange Act — B-4 122
When notary not accessible 122 Where a dishonoured bill is authorized or required to be protested and the services of a notary cannot be obtained at the place where the bill is dishonoured, any justice of the peace resident in the place may present and protest the bill and give all necessary notices and has all the necessary powers of a notary with respect thereto. R.S., c. B-5, s. 123
Bills of Exchange Act — B-4 123
Expense 123 (1) The expense of noting and protesting any bill and the postages thereby incurred shall be allowed and paid to the holder in addition to any interest thereon. Notaries’ fees (2) Notaries may charge the fees in each province allowed them. R.S., c. B-5, s. 124
Bills of Exchange Act — B-4 124
Forms 124 (1) The Forms in the schedule may be used in noting or protesting any bill and in giving notice thereof. Annexing copy or original of bill (2) A copy of the bill and endorsement may be included in the Forms, or the original bill may be annexed and the necessary changes in that behalf made in the Forms. R.S., c. B-5, s. 125
Bills of Exchange Act — B-4 125
How notice of protest given 125 Notice of the protest of any bill payable in Canada is sufficiently given and is sufficient and deemed to have been duly given and served, if given during the day on which protest has been made or on the next following juridical or business day, to the same parties and in the same manner and addressed in the same way as is provided by this Part for notice of dishonour. R.S., c. B-5, s. 126
Bills of Exchange Act — B-4 126
Equitable assignment 126 A bill, of itself, does not operate as an assignment of funds in the hands of the drawee available for the payment thereof, and the drawee of a bill who does not accept as required by this Act is not liable on the instrument. R.S., c. B-5, s. 127
Bills of Exchange Act — B-4 127
Engagement by acceptance 127 The acceptor of a bill by accepting it engages that he will pay it according to the tenor of his acceptance. R.S., c. B-5, s. 128
Bills of Exchange Act — B-4 128
Estoppel 128 The acceptor of a bill by accepting it is precluded from denying to a holder in due course (a) the existence of the drawer, the genuineness of his signature and his capacity and authority to draw the bill; (b) in the case of a bill payable to drawer’s order, the then capacity of the drawer to endorse, but not the genuineness or validity of his endorsement; or (c) in the case of a bill payable to the order of a third person, the existence of the payee and his then capacity to endorse, but not the genuineness or validity of his endorsement. R.S., c. B-5, s. 129
Bills of Exchange Act — B-4 129
Drawer 129 The drawer of a bill by drawing it (a) engages that on due presentment it shall be accepted and paid according to its tenor, and that if it is dishonoured he will compensate the holder or any endorser who is compelled to pay it, if the requisite proceedings on dishonour are duly taken; and (b) is precluded from denying to a holder in due course the existence of the payee and his then capacity to endorse. R.S., c. B-5, s. 130
Bills of Exchange Act — B-4 130
Liability by signature 130 No person is liable as drawer, endorser or acceptor of a bill who has not signed it as such, but when a person signs a bill otherwise than as a drawer or acceptor, he thereby incurs the liabilities of an endorser to a holder in due course and is subject to all the provisions of this Act respecting endorsers. R.S., c. B-5, s. 131
Bills of Exchange Act — B-4 131
Trade-name or assumed name 131 (1) Where a person signs a bill in a trade-name or assumed name, he is liable thereon as if he had signed it in his own name. Firm name (2) The signature of the name of a firm is equivalent to the signature, by the person so signing, of the names of all persons liable as partners in that firm. R.S., c. B-5, s. 132
Bills of Exchange Act — B-4 132
Endorser 132 The endorser of a bill by endorsing it, subject to the effect of any express stipulation authorized by this Act, (a) engages that on due presentment it shall be accepted and paid according to its tenor, and that if it is dishonoured he will compensate the holder or a subsequent endorser who is compelled to pay it, if the requisite proceedings on dishonour are duly taken; (b) is precluded from denying to a holder in due course the genuineness and regularity in all respects of the drawer’s signature and all previous endorsements; and (c) is precluded from denying to his immediate or a subsequent endorsee that the bill was, at the time of his endorsement, a valid and subsisting bill, and that he had then a good title thereto. R.S., c. B-5, s. 133
Bills of Exchange Act — B-4 133
Measure of damages 133 Where a bill is dishonoured, the measure of damages, which shall be deemed to be liquidated damages, are (a) the amount of the bill; (b) interest thereon from the time of presentment for payment, if the bill is payable on demand, and from the maturity of the bill in any other case; and (c) the expenses of noting and protesting. R.S., c. B-5, s. 134
Bills of Exchange Act — B-4 134
Recovery of damages 134 In the case of a bill that has been dishonoured, the holder may recover from any party liable on the bill, the drawer who has been compelled to pay the bill may recover from the acceptor, and an endorser who has been compelled to pay the bill may recover from the acceptor or from the drawer, or from a prior endorser, the damages prescribed in section 133. R.S., c. B-5, s. 135
Bills of Exchange Act — B-4 135
Re-exchange and interest 135 In the case of a bill that has been dishonoured abroad, in addition to the damages prescribed in section 133, the holder may recover from the drawer or any endorser, and the drawer or an endorser who has been compelled to pay the bill may recover from any party liable to him, the amount of the re-exchange with interest thereon until the time of payment. R.S., c. B-5, s. 136
Bills of Exchange Act — B-4 136
Transferor by delivery 136 (1) Where the holder of a bill payable to bearer negotiates it by delivery without endorsing it, he is called a “transferor by delivery”. Liability of transferor (2) A transferor by delivery is not liable on the instrument. R.S., c. B-5, s. 137
Bills of Exchange Act — B-4 137
Warranty by transferor 137 A transferor by delivery who negotiates a bill thereby warrants to his immediate transferee, being a holder for value, that (a) the bill is what it purports to be; (b) he has a right to transfer it; and (c) at the time of transfer, he is not aware of any fact that renders it valueless. R.S., c. B-5, s. 138
Bills of Exchange Act — B-4 138
Payment 138 (1) A bill is discharged by payment in due course by or on behalf of the drawee or acceptor. Payment in due course (2) Payment in due course means payment made at or after the maturity of the bill to the holder thereof in good faith and without notice that his title to the bill is defective. Accommodation bill (3) Where an accommodation bill is paid in due course by the party accommodated, the bill is discharged. R.S., c. B-5, s. 139
Bills of Exchange Act — B-4 139
Payment by drawer or endorser 139 Subject to the provisions of section 138 with respect to an accommodation bill, when a bill is paid by the drawer or endorser, it is not discharged, but, (a) where a bill payable to, or to the order of, a third party is paid by the drawer, the drawer may enforce payment thereof against the acceptor, but may not reissue the bill; and (b) where a bill is paid by an endorser, or where a bill payable to drawer’s order is paid by the drawer, the party paying it is remitted to his former rights as regards the acceptor or antecedent parties, and he may, if he thinks fit, strike out his own and subsequent endorsements and again negotiate the bill. R.S., c. B-5, s. 140
Bills of Exchange Act — B-4 140
Acceptor holding at maturity 140 When the acceptor of a bill is or becomes the holder of it, at or after its maturity, in his own right, the bill is discharged. R.S., c. B-5, s. 141
Bills of Exchange Act — B-4 141
Renouncing rights 141 (1) When the holder of a bill, at or after its maturity, absolutely and unconditionally renounces his rights against the acceptor, the bill is discharged. Against one party (2) The liabilities of any party to a bill may in like manner be renounced by the holder before, at or after its maturity. In writing (3) A renunciation must be in writing, unless the bill is delivered to the acceptor. Holder in due course (4) Nothing in this section affects the rights of a holder in due course without notice of renunciation. R.S., c. B-5, s. 142
Bills of Exchange Act — B-4 142
Cancellation of bill 142 (1) Where a bill is intentionally cancelled by the holder or his agent and the cancellation is apparent thereon, the bill is discharged. Of any signature (2) In like manner, any party liable on a bill may be discharged by the intentional cancellation of his signature by the holder or his agent. Discharge of endorser (3) In any case described in subsection (2), any endorser who would have had a right of recourse against the party whose signature is cancelled is also discharged. R.S., c. B-5, s. 143
Bills of Exchange Act — B-4 143
Unintentional cancellation 143 A cancellation made unintentionally, or under a mistake, or without the authority of the holder, is inoperative, but where a bill or any signature thereon appears to have been cancelled, the burden of proof lies on the party who alleges that the cancellation was made unintentionally, or under a mistake, or without authority. R.S., c. B-5, s. 144
Bills of Exchange Act — B-4 144
Alteration of bill 144 (1) Subject to subsection (2), where a bill or an acceptance is materially altered without the assent of all parties liable on the bill, the bill is voided, except as against a party who has himself made, authorized or assented to the alteration and subsequent endorsers. Right of holder in due course (2) Where a bill has been materially altered, but the alteration is not apparent, and the bill is in the hands of a holder in due course, the holder may avail himself of the bill as if it had not been altered and may enforce payment of it according to its original tenor. R.S., c. B-5, s. 145
Bills of Exchange Act — B-4 145
Material alteration 145 In particular, any alteration (a) of the date, (b) of the sum payable, (c) of the time of payment, (d) of the place of payment, or (e) by the addition of a place of payment without the acceptor’s assent where a bill has been accepted generally, is a material alteration. R.S., c. B-5, s. 146
Bills of Exchange Act — B-4 146
Acceptance for honour under protest 146 Where a bill of exchange has been protested for dishonour by non-acceptance, or protested for better security, and is not overdue, any person, not being a party already liable thereon, may, with the consent of the holder, intervene and accept the bill under protest for the honour of any party liable thereon or for the honour of the person for whose account the bill is drawn. R.S., c. B-5, s. 147
Bills of Exchange Act — B-4 147
In part 147 A bill may be accepted for honour for part only of the sum for which it is drawn. R.S., c. B-5, s. 148
Bills of Exchange Act — B-4 148
Deemed to be for honour of drawer 148 Where an acceptance for honour does not expressly state for whose honour it is made, it is deemed to be an acceptance for the honour of the drawer. R.S., c. B-5, s. 149
Bills of Exchange Act — B-4 149
Maturity of after-sight bill 149 Where a bill payable after sight is accepted for honour, its maturity is calculated from the date of protesting for non-acceptance and not from the date of the acceptance for honour. R.S., c. B-5, s. 150
Bills of Exchange Act — B-4 150
Requirements 150 An acceptance for honour under protest, in order to be valid, must be (a) written on the bill, and indicate that it is an acceptance for honour; and (b) signed by the acceptor for honour. R.S., c. B-5, s. 151
Bills of Exchange Act — B-4 151
Liability of acceptor for honour 151 (1) The acceptor for honour of a bill by accepting it engages that he will, on due presentment, pay the bill according to the tenor of his acceptance, if it is not paid by the drawee, if it has been duly presented for payment and protested for non-payment and if he receives notice of those facts. Liability to holder and others (2) The acceptor for honour is liable to the holder and to all parties to the bill subsequent to the party for whose honour he has accepted. R.S., c. B-5, s. 152
Bills of Exchange Act — B-4 152
Payment for honour under protest 152 (1) Where a bill has been protested for non-payment, any person may intervene and pay it under protest for the honour of any party liable thereon or for the honour of the person for whose account the bill is drawn. If more than one offer (2) Where two or more persons offer to pay a bill for the honour of different parties, the person whose payment will discharge most parties to the bill has the preference. Refusal to receive payment (3) Where the holder of a bill refuses to receive payment under protest, he loses his right of recourse against any party who would have been discharged by that payment. Entitled to bill (4) The payer for honour, on paying to the holder the amount of the bill and the notarial expenses incidental to its dishonour, is entitled to receive both the bill itself and the protest. Liability for refusing (5) Where the holder does not on demand in a case described in subsection (4) deliver up the bill and protest, he is liable to the payer for honour in damages. R.S., c. B-5, s. 153
Bills of Exchange Act — B-4 153
Attestation of payment for honour 153 (1) Payment for honour under protest, in order to operate as such and not as a mere voluntary payment, must be attested by a notarial act of honour, which may be appended to the protest or form an extension of it. Declaration (2) The notarial act of honour must be founded on a declaration made by the payer for honour, or his agent in that behalf, declaring his intention to pay the bill for honour, and for whose honour he pays. R.S., c. B-5, s. 154
Bills of Exchange Act — B-4 154
Discharge and subrogation 154 Where a bill has been paid for honour, all parties subsequent to the party for whose honour it is paid are discharged, but the payer for honour is subrogated for and succeeds to both the rights and duties of the holder with respect to the party for whose honour he pays, and all parties liable to that party. R.S., c. B-5, s. 155
Bills of Exchange Act — B-4 155
Holder to have duplicate of lost bill 155 (1) Where a bill has been lost before it is overdue, the person who was the holder of it may apply to the drawer to give him another bill of the same tenor, giving security to the drawer, if required, to indemnify him against all persons whatever, in case the bill alleged to have been lost is found again. Refusal (2) Where the drawer, on request, refuses to give a duplicate bill, he may be compelled to do so. R.S., c. B-5, s. 156
Bills of Exchange Act — B-4 156
Action on lost bill 156 In any action or proceeding on a bill, the court or a judge may order that the loss of the instrument shall not be set up, if an indemnity is given to the satisfaction of the court or judge against the claims of any other person on the instrument in question. R.S., c. B-5, s. 157
Bills of Exchange Act — B-4 157
Bills in set 157 (1) Where a bill is drawn in a set, each part of the set being numbered, and containing a reference to the other parts, the whole of the parts constitute one bill. Acceptance (2) The acceptance may be written on any part, but it must be written on one part only. R.S., c. B-5, s. 158
Bills of Exchange Act — B-4 158
Endorsing more than one part 158 (1) Where the holder of a set endorses two or more parts to different persons, he is liable on every such part, and every endorser subsequent to him is liable on the part he has himself endorsed as if the parts were separate bills. Negotiation to different holders (2) 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, deemed the true owner of the bill, but nothing in this subsection affects the rights of a person who in due course accepts or pays the part first presented to him. Accepting more than one part (3) Where the drawee accepts more than one part and such accepted parts get into the hands of different holders in due course, he is liable on every such part as if it were a separate bill. Payments without delivery (4) 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 thereof. Discharge (5) Subject to this section, where any one part of a bill drawn in a set is discharged by payment or otherwise, the whole bill is discharged. R.S., c. B-5, s. 159
Bills of Exchange Act — B-4 159
Requisites of form 159 (1) Subject to subsections (2) and (3), where a bill drawn in one country is negotiated, accepted or payable in another, the validity of the bill with respect to requisites in form is determined by the law of the place of issue, and the validity with respect to requisites in form of the supervening contracts, such as endorsement, acceptance or acceptance under protest, is determined by the law of the place where the contract was made. Unstamped bills (2) Where a bill is issued outside Canada, it is not invalid by reason only that it is not stamped in accordance with the law of the place of issue. Conforming to the law of Canada (3) Where a bill, issued outside Canada, conforms, with respect to requisites in form, to the law of Canada, it may, for the purpose of enforcing payment thereof, be treated as valid as between all persons who negotiate, hold or become parties to it in Canada. R.S., c. B-5, s. 160