The Providence news. (Providence [R.I.]) 1891-1906, 1899-08-03
pURlIc LAWS. PASSED Ar THE JANu-
AIRY SESSION, lsoo.
fcontlnued from PAGE Seven)

ance and such an acceptance as Is pre-
scribed by this act is refused or cannot be
obtained: or
p when presentment for acceptance is
excused and the bill Is not accepted
Sec 15s Where a bill is duly presented
for acceptance and is not accepted within
the prescribed time, the person present.
ing il must treat the bill as dlshonored by
non-acceptance or he loses the right OF re-
course against the drawer and indorsers.
Sec l59 When a bill is dishonored by
non-acccptance. an immediate right OF re-
course against the drawers and indorsers
accrues to the holder and no presentment
for payment is necessary.
ARTICLE ~.
Protest.
Sec. le0. Where a foreign bill appearing
on its face to be such is dishonored by
non-acceptance II must be duly protested
for non-acceptance. and where such "a bill
which has not previously been dishonored
by non-acceptance is dishonored by non
payment. IL must oe duly protested for
the drawer ana indorsers are discharged.
Where a bill does not appear on it's face
TO be a foreign bill. protest thereof In
case OF dishonor Is unnecessary
Sec. l6l. The protest must be annexed
to the bill or must contain a copy there
Of and must be under the hand and seal
OF the notary making IL. and must spe-
city;
/. The time and place of presentment:
q The fact that presentment was made
and the manner thereof;
3. The cause or reason for protesting the
bill
4. The demand made and the answer
given. II any, or the fact that the drawee
or acceptor could not be found.
Sec l62 Protest may be made by:
I. A notary public or
2 BY any respectable resident OF the
place where the bill is dishonored I'm the
presence OF two or more credible wit
nesses.
Sec 1863 When a bin is protested, such
protest must be made on the day of its
dishonor, unless delay is excused as here
In provided. When bill has been duly
noted. the protest may be subsequently
extended as of the date of the noting.
Sec. 16i A bill must be protested at tho
place where Il 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 dishonor-
ed by non-acceptance, II must be protest
ed for non-payment at the place where II
is expressed 10 be payable and no fur
ther presentment for payment to, or de-
mand on. the drawee Is necessary.
Sec 1866 A bill which has been protest.
ed for non-acceptance may be subse-
quently protested for non-payment.
Sec. l66. Where the acceptor has been
adjudged a bankrupt or an insolvent o.
has made an assignment for the beneht
OF creditors before the bill natures tho
holder may cause the bill 10 be protested |
for better security against the drawer |
and indorsers.
Sec. 167 Protest Is dispensed witn by |
any circumstances which would dispense |
with notice OF dishonor. Delay I'm noting |
or protesting is excused when delay Is |
caused by circumstances beyond the con- |
IL. 10
default, misconduct, or negligence. When
the cause of delay ceases TO operate. the
bill must be noted or protested with rea-
sonable diligence.
Sec 16s Where a bill Is lost or destroy
ed or is wrongly detained from the person
entitled to hold 1t. protest may be made
on copy or written particulars thereof
ARTICLE V.
Acceptance for Honor.
Sec. 169 Where a bill of exchange has
been protested for dishonor By monaco
ceptance or protested for better security
and Is not overdue. any person not being
party already liable thereon may with
the consent OF the holder. intervene and
accept the bill supra protesNfor 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 the bill Is drawn; and where there |
mas been an acceptance Tor nOnOT lOT one 1
party, there may be a further acceptance |
by different person for the honor of an |
other party
Sec. 10. An acceptance for honor supra |
protest must be in writing and indicate |
that II is an acceptance for honor, and |
must be signed by the acceptor for honor.
Sec. III. Where an acceptance for honor |
does not expressly state for whose honor
It is made. II Is deemed to be an accept
ance for the honor of the drawer
Sec. 172. The aCoeptor for honor is liable |
10 the holder and to all parties to the bill |
subsequent 10 the party for whose honor |
he has accepted.
Sec. 173. The acceptor for honor by such |
acceptance engages that ne will on due |
presentment pay the bin according to the |
terms OF his acceptance: Provided. II shall |
not have been paid by the drawee. and |
provided. also. that IL shall have been |
duly presented for payment and protested |
for non-payment and notice of dishonor |,
given 10 him.
Sec. ia Where bill payable after sight !
Is accepted for honor. it's maturity Is cal |
culated from the date of the noting for
non-acceptance and not from the date of
the acceptance for honor
Sec. 175. Where dshonored bin has
been accepted Cor honor supra protest or
contains reference i'm case of need it
must be protested for non payment before
IL Is presented for payment TO the ac-
ceptor for honor or referee In case OF
need.
Sec 176. Presentment for payment TO
the acceptor for honor must be made as
follows:
l. III IL Is TO be presented I'm the place
where the protest for non-payment was
made. IL must be presented not later than
the day following its maturity:
2 III IL Is TO be presented In some other
place than the place whore Il was pro-
tested then II must be forwarded within
the time specified In section 1l2
Sec. Ia. The provisions of section eighty
one apply where there ia delay I'm making
presentment 10 the acccptor for honor or
referee In case OF need.
Sec. us When the bin Is dishonored by
the acccptor for honor. IL must be pro-
tested Tor non-payment by him.
AurtCLE W.
Payment for Honor
Sec. I'D Where a bill has been protested
'or hon-payment, any person may inter
,ene and pay 81 supra protest for the
nohor OF any person liable thereon OF for
.ne honor OF the person for whose ac-
count IL was drawn
| e.c' hO. The payment for honor supra
pro'est In order 90 operate as such and
/ @ ~. ~ mere voluntary payment must be
4 htteSteu BY a notoriol orf 30 bopor ,.hf.t,