The Providence news. (Providence [R.I.]) 1891-1906, 1899-08-03


Sec. IS. Where the persons primarily
liable on the instrument are liable as
partners. and no place OF payment Is spe-
cined, presentment for payment may he
made 10 any one OF them. even though
there has been a dissolution OF the firm.
Sec. S6 Where there are several per-
sons. not partners primarily liable on
the instrument, ard no place OF payment
Is specified. presentment must be made
10 them all.
Sec, ST. Presentment for payment is not
required in order 10 charge the drawer
where he has no right 20 expect or re-
quire that the drawee or acceptor VIII
pay the instrument.
Sec. IS. Prescntment for payment - not
required I'm order to charge an indorser
where the instrument was made or ac-
cepted for his accommodation and he mas
no reason TO expect that the instrument
will be paid IL presented.
Sec. 50. Delay I'm making presentment
for payment is excused when the delay IL
caused by circumstances beyond the con-
troll OF the holder and not imputable 10
his default. misconduct or negligence.
When the cause OF delay ceases TO op-
crate. presentment must be made with
reasonable diligence.
Sec. 80 Presentment for payment Is dis
pensed with:
l. Where after the exercise Of reasona-
BILE diligence presentment as required by
this act cannot be made:
q Where the drawee Is a fictitious per-
SON.
g. BY waiver OF presentment express or
implied.
Sec. 81. The instrument Is dishonored
by non-paynent when:
1. IL is duly presented for payment and
payment is refused or cannot be obtain
ed; or
q Presentment is excused and the I'm
xt. f-n nd
Sec. 92 Subject TO the provisions OF this
act when the instrument is dishonored by
non payment an immediate right OF re-
course 10 all parties secondarily liable
thereon accrues TO the holder.
Sec. 80. Every negotiable instrument ex-
cept sight drafts rs payable ar the time
fixed therein without grace When the
day OF maturity fails upon Sunday, or a
holiday. the instrument IL payable on the
next succeeding business day. Instru-
ments falling due on Saturday are to be
presented for payment on the next sue
ceeding business day. except that instru-
ments payable on demand may, at the OPP
ton Of the holder. be presented for pay
ment before twelve o'clock noon on Sat-
urday when that entire day is not holi-
day.
Sec "a. Where the instrument is payable
at fixed period after date. after sight.
or after the happening OF a specified
by excluding the day from which the
time is to begin to run and by including
the date OF payment.
Sec. s5 Where the instrument is made
payable at a bank It is equivalent to an
order 10 the bank TO pay the same for the
account OF the principal debtor thereon.
Sec 96 Payment is made i'm due course
when II Is p:ade at or after the maturity
OF the INSTRUMENT TO the holder thereof in
l.ts hat h
title is defective.
ARTICLE VIII.
Notice OF Dishonor
Sec. 81. Except as herein otherwise pro-
vided. when a negotiable instrument has
been dishonored by non-acceptance or nom
payment, notice OF dishonor must be Civ
en- TO the drawer and TO each indorser.
and any drawer or indorser to whom such
notice is not given Is discharged.
Sec. ~. The notice may be given by or
on behalf OF the holder or by or on behalf
of any party TO the instrument who might
be compelled to pay II to the holder, and
who. upon taking II UP. would have
right to reimbursement from the party TO
whom the notice is given.
Sec s9 Notice OF dishonor may be given
by an agent either In his own name or in
the name OF any party entitled to give no.
tice whether that party be his principal
or not.
Sec 100. Where notice Is given by or on
behalf OF the holder. IL enures for the
benefit OF all subsequent holders and all
prior parties who have a right of recourse
against the party to whom IL Is given.
Sec l0i. Where notice.is given by or on
behalf OF a party entitled 10 give notice,
II enures for Whe benefit Of the holder end
all parties subsequent to tns party 10
whom notice is given.
See l0.. Where the instrument has been
dshonored in the hands OF an agent. he
may either himself give notice to Ike par
ties liable thereon. or ne may give notice
10 his principal. II he give notice TO his
principal, he must do so within the same
time as IL he were the holder and the
principal upon the receipt OF such notice
has himself the same time for giving no.
tce as If the agent had been an inde-
pendent holder.
Sec. 1903. A written notice need not be
signed and an insufficient written notice
may be supplemented and validated by
verbal communication. A misdescription
OF the instrument does not vitiate the no.
tce unless the party 10 whom the notice
is given Is in fact misled thereby.
Sec. la. The notice may be i'm writing
or merely oral and may be given In any
terms which sufficiently identify the in
strument and Indicate that IL has been
dishonored by non-acceptance or nom
payment. II may In sll cases be given by
delivering 1t personally or through the
mails.
Sec. los. Notice OF hishonor may be Civ
en- either to the party himself or TO his
agent i'm that behalf.
.Seesi ies. When any party is dead, and
his death IL known TO the party giving
notice. the notice must be given 10 per-
sonal representative, II there be one. and
IL with reasonable diligence he can be
found. II there be no personal repre-
sentative. notice may be sent TO the last
residence or last place of business OF the
deceased.
Sec. 10i. Where the parties TO be nou-
fled arc partners. notice 10 any one part
ner Is notice to the firm even though
there has been dissolution.
Sec. los. Notice 10 joint parties who
are not partners must be given to each
OF them. unless one OF them has au-
thority TO receive such notice for the
others.
Soc. l0a Where n party has been adj
judged bankrupt or an insolvcnt. or has
made an assignment for the benefit OF
creditors. notice may be given either 20
the party himself or TO his trustee or as
siRnee.
Sec. 1lo. Notice may be given as soon
as the instrument ~ dishonored. and un-
less delay is excused oa horeina fter nrO-