The Birmingham age-herald., 1907-08-29

strument will be paid if presented.
 Sec. S1. Delay in making presentment
 for payment Is excused when the delay
 is caused by circumstances beyond the l control of the holder and not imputable
 to his default. misconduct or negligence.
 When the cause of delay ceases to oper
 ate, presentment must be made with | reasonable diligence
 Sec. 82. Presentment for payment is dis | pensed with. 1. Where after the exercise of reasonable diligence presentment as | required by this Act can not be made. ?. Where the drawee is a fictitious per
 son. 3. By waiver of presentment ex- press implied.
 Sec. s. The instrument is dlshonored | by non-payment when: 1. It is duly pre- l sented for payment and payment is re- | fused or can not be obtained or. 9. Pre- | sentiment is excused and the instrument l Is over due and unpaid.
 Sec. S4. Subject to the provisions of this Act, when the instrument is dis 1 honored by non-payment, an immediate right of recourse to all parties second arily liable thereon, accrues to the holder. | Sec. 85. Every negotiable instrument is payable at the time fixed therein with
 out grace. When the day of maturity | falls upon Sunday, or a holiday, the in l strument is payable on the next succeed | ing business day. Instruments falling due on Saturday are to be presented
 for payment on the next succeeding busi- ness day, except that instruments pay able on demand may, at the option of the holder, be presented for payment be- fore 12:00 o'clock noon, on Saturday, when that entire day Is not a holiday
 Sec. S6. Where the instrument Is pay able at a fixed period after date, after eight, after the happening of a speci- fled event, the time of payment is de-
 termined by excluding the day from which the time is to begin to run. and by including the day of payment.
 Sec. ST. Where the instrument Is made payable at a bank it Is equivalent to an order to the bank to pay the same for the account of the principal debtor l thereon.
 Sec. 8S. Payment Is made in due course ! when 1t is made at or after maturity of | the instrument to the holder thereof in | good faith and without notice that his | title Is defective.
 Sec. S9. Except as herein otherwise pro- l vlded, when a negotiable instrument has l been dishonored by non-acceptance or non-payment notice of dlshonor must be given to the drawer and to each indorser, and any drawer or rndorser to whom such notice is not given Is discharged.
 Sec. 90. The notice may be given by or | on behalf of the holder or by or on be- half of any party to the instrument who ! might be compelled to pay it to the
 holder and who. upon taking 1t up. would 1 have right to reimbursement from the | party to whom the notice Is given. 1 Sec. 91 Notice of dishonor may be given ] by an agent either in his own name or in the name of any party entitled to give notice, whether that party be hIs prin- | cipal or not.
 Sec. 92. Where notice is given by or on l behalf of the holder, it insures for the | benefit of all subsequent holders and all | prior parties who have a right of re- course against the party to whom 1t Is given.
 Sec. 93. Where notice is given by or on behalf of a party entitled to give notice, 1 1t inures for the benefit of the holder and all parties subsequent to the party to whom notice is given
 Sec. 9i. Where the instrument has been 1 dishonored in the hands of an agent he may either himself give notice to the | parties liable thereon, or he may give notice to his principal If he gives notice to his principal he must do so within | the same time if he were the holder and the principal. upon the receipt of such notice, has himself the same time for | giving notice as If the agent had been | an Independent holder.
 | Sec. 95. A written notice need not be signed, and an insufficient written notice may be supplemented and val dated by verbal communication mis-description of the instrument does not vtiate unless the party to whom the notice Is given Is in fact misIed thereby.
 Sec. 96. The notice may be in writ Ing or merely oral and may be given in any terms which sufficiently iden- | tify the instrument and indicate that | 1t has been dish onored by non-accept- ance or non payment. It may in all cases be given by delivering 1t per | sonally or through the mails. l Sec. 91. Notice of dishonor may he given either to the party himself or to his in that behalf
 Sec. 9S. Where any party Is dead and his death Is known to the party giving notice, the notice must be given to personal representative, if there ,A | one, and with reasonable diligence he can be found. If there be no personal representative, notice may be sent to the last residence or last place of busi- ness. of the deceased.
 Sec. 99. Where the parties to be noti- fled are partners, notices to any one partner Is notice to the firm even | though there has been a dissolution Sec 100. Notice to 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.
 Sec. 101. Where a party has been adjudged a bankrupt or an insolvent. or has made an assignment for the 1 benefit of creditors, notice may be given either to the party himself or to his | trustee or assignee.
 Sec 102. Notice may be given as soon as the instrument is dishonored and unless delay Is excused hereinafter | provided, must be given within the time | fixed by this act
 Sec 103. Where the person giving and | the person to receive notice reside in | the same place, notice must be given within the following times: l. If given | at the place of business of the person | to receive notice, it must be given be- fore the close of business hours on the day following. 2. If given at his resi- dence, 1t must be given before the usual hours of rest the day following. g. in the postoffce in time to reach him l in the usual course on the day follow 1 ing
 Sec 104. Where the person giving and the person to receive notice reside in different places, the notice must be | given within the following times: l. If sent by mail 1t must be deposited in | the postoffice in time to go by mail l the day following the day of dishonor | or if there be no mail at a convenient hour on that day, by the next mail l thereafter 2. If given otherwise than | through the postoffice, then within the time that notice would have been re- ceived in due course of mail if it had been deposited fin the postoffice within | the time specified in the last sub