, 1885-07-08

short duration, the enactment applies only
to the ordinary days of grace according to
to Code Chr. V.5-14-3; the particular days
of grace enacted by ordinance of 18th May
1926, so, for bills of exchange are not
affected by the new enactment.
The Governor, in introducing the Draft,
said that Code Christian V. contains
the rules at present valid i'll these colonies
in regard to the time in which fixed pay
ments of debts are to be made. In Den
mark the same rules existed previously
but were altered by the Law OF 18th
February 1874; and this is the reason
why it has been found convenient to
extend this latter enactment, as proposed
in the present Draft, SO rs to have the
same rules here as in the Mothercountry.
But as pointed III in the remarks, it is
only Code Christian Y. 5,14-3. that
actually is valid i these Islands, the said
clause enacts that payment made within
8 days after the term stipulated is to be
considered as good payment.
This delay is found announcement aud
unnecessary in many eases OF debt OF short
duration and it is therefore the pnrport OF
this Draft to do away with that delay Ill
all cases, when the debt is contracted Tor
a shorter period than one year or without
at least three months notice on the part
of the Creditor. Moreover the parties con
cerned are free to agree upon Whatever
terms they like.
Bird Member for ChristianSted WGSSGrd
said he did not think there could be any
objection to the extending of the Law OF
1874 to the Colony. The laws III this Is
land are in the most essential points the
same as in Denmark, and as Il rule the
same general principles are followed mere
throughout. When therefore III Denmar
it was found advisable TO make an altera-
ton in the old laws "e should here follow
the example, provided local considerations
do not render it inadviSable. AS tar as
he knew there are no local considerations
that could be advanced against the pro-
posed alteration here in this case, ana IL
cannot he said that we have been i'll a
hurry to ext nd this law, since we nave
had eleven years to consider on the matter.
In fact it appeared that we are on the
whole too slow in following the Legislation
of the Mothercountry, aud his DRAFT
rives cause to call attention to that point.
In the Remarks to the Draft IL Is stated
that "the particular days OF grace enacted
by Ordinance OF 18th May 1929 53 Tor
bills of exchange are not affected by this
new enactmpntn. Now, in Denmark long
AGO, namely in 1890, a new law has emanat-
ed about Bills of Exchange, and by the
3lst paragraph of that law 1t is enacted
that days of grace are not allowed at all
on bills of exchange, which, as far as he Is
aware, is in accordance with what has been
established in mOsr countries. The new
Law on Bills of Exchan ge was issued after
thorough investigation and consideration
not only in Denmark bat also in Norway
and Sweden, with the object to bring as
far as possible the rules on that head Ill
keeping with modern laws in OTHER coull-
tries: and to obtain such conformity Is
certainly of great consequence III a matter
such as Bills of Exchange which travel
over the whole world. He would therefore
beg to express the hope that without unne-
cessary delay steps will be taken 10 extend
the law of 1880 to the Colony. The law
of 1926 was extended to these Islands by a
Royal Rescript of 1923 or scarcely 8 years
after its elnanatiOn at that rate we ought
9 years ago to have had the new law OF
1880 extended to the colony. He begged
to be excused for having made this little
depression, for which however. an opportu-
nifty was offered by the draft itself. AS
regards this latter, it is laid before the
Council so clearly and the matter must
stand so lucidly before the Members, that
he could not see there would be any neces-
sity of a Committee.
The [GouernorI would, IN reply to the
last remark from the honorable 3rd Mem