The Birmingham age-herald., 1909-09-16
(contInued from Preceding Pase.)

and seal or the notary inaAinS ~ eiN must specify:
 | The time and place of presentment g. The fact that presentment was made and the manner thereof.
 B. The cause or reason for protesting the bill.
 A. The demand made and the answer given, if any or the fact that the drawee or acceptor could not be found.
 Sec. 154. Protest may be made by:
 l. A notary public; or
 2. By any respectable resident of the place where the bill is dishonored, or in the presence of two or more creditable witnesses.
 Sec. 155 When a bill is protested such protest must be made on the day of the dishonor, unless delay is excused as herein provided. When bill has been duly noted, the protest may be subse- uuently extended as of the date of the noting.
 Sec. 156. A bill must be protested at the place where it 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 dshonored by non-acceptance, it must be protested for non-payment at the place where 1t is expressed to be payable; and no other presentment for payment to. or demand on, the drawee is necessary.
 Sec. 157. bill which has been protest. ed for non-acceptance may be subse- quently protested for non-payment.
 Sec. 16S. Where the acceptor has been adJudged bankrupt Of an insolvent or has made an assignment for the bene- fit of creditors before the bill natures, the holder may cause the bill to be pro- tested for better security against the drawer and indorsers
 Sec. 159. Protest is dispensed with by any circumstances which would dispense with notice of dishonor Delay in noting and protesting Is excused when delay is caused by circumstances beyond the con trol of the holder and not imputable to his default, misconduct or negligence When the cause of delay ceased to op- crate the bill must be noted or protested with reasonable diligence.
 Sec. 16O Where a bill is lost or de- stroyed, or is wrongfully detained iron, the person entitled to hold 1t. protest nav thereof.
 Acceptance for Honor.
 sec. 16l. Where a bill of exchange has been protested for dishonor by monaco ceptance, or protested for better security una IS not overdue, and person not being a party already liable therein may with the consent of the holder intervene and accept the bill supra protest for the honor any party liable thereon or for the honor of the person for whose account the bill Is drawn. The acceptance for honor may De Tor part only of the sum for which the bill Is drawn. and where there has been an acceptance for honor for one party there may be further acceptance by a different person for the honor of another party
 Sec. 162. An acceptance for honor supra protest must be in writing and indicate lhat It Is an acceptance for honor
 Sec. l63. Where an acceptance for hon. or does not expressly state for whose honor 1t is made 1t is deemed to be an acceptance for the honor of the drawer
 Sec. 164. The acceptor for honor is lia- ble to the holder and to all parties to the bill subsequent to the party for whose honor he has accepted.
 Sec. 165. The acceptor for honor by such acceptance engages that he will. on due presentment, pay the bill according to the terms of his acceptance, provided it shall not have been paid by the draw CT, and provided also, that it shall have
 
 protested for non-payment and notice of dishonor given to him.
 Sec. 166. When a bill payable after sight is accepted for honor, its maturity Is calculated from the date of the noting for non-acceptance and not from the date of the acceptance for honor
 Sec. 167. Where dishonored bill has been accepted for honor supra protest or contains a reference in case of need. It must be protested for non-p payment be- fore 1t is presented for payment to the acceptor for honor or referee in case of need.
 Sec. 16s. Presentment for payment to the acceptor for honor must be made as follows:
 l. If 1t is to be presented in the place where the protest for non-payment was made, 1t must be presented not later than the day following it's maturity
 2. If it is to be presented in some other place than the place where 1t was protested. then it must be forwarded within the time specified in Section 104
 Sec. 16s. The provisions of Section s1 apply where there is delay in making presentment to the acceptor for honor or reference in of need
 Sec. ITO. When the bill Is dishonored by the acceptor for honor 1t must be protested for non-payment by him.
 Payment for Honor.
 Sec. I'll. When bill has been protest ed for non-payment, any person may in- tervene and pay 1t supra protest for the honor of any person liable thereon or for the honor of the person for whose ac- count 1t was drawn.
 Sec. 172. The payment for honor supra protest in order to operate as such and not as mere voluntary payment must be attested by notarial act of honor, which may be appended to the protest or form and extension to 1t.
 Inc r,Nfo rfo1 ,f fifnust be founded on declaration made k(by the payer for honor or by his agent Y in that behalf declaring his intention to pay the bill for honor and for which honor he pays.
 Sec. 14. Where two or more persons offer to pay a bill for the honor of diff ferent parties the person whose pay ment will discharge most parties to the bill is to be given the preference.
 Sec. 175. Where a bill has been paid for honor, all parties subsequent to the party for whose honor it Is paid are discharged, but the payer for honor is subrogated for and succeeds to, both the rights and duties of the holder as re- gards the party for whose honor he pays and all parties liable to the latter. Sec. 17e Where the holder of a bill re- fuses to receive payment supra protest. he loses the right of recourse against any party who would have been dis charged by such payment.
 Sec. 1T. Tho payer for honor on paying to the holder the amount of the bill and the notarial expenses incidental to its dis