The Montgomery advertiser., 1909-09-16
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The tiihs anu Dhse VI ment.
 q The fact that presentment was made and the manner thereof-
 s The cause or reason for protest ing the bill.
 .. 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:
 1. A notary public; o-
 |. By any respectable resident of the place where the bill is 'dishonored, or in the presence of two or more cred itable witnesses
 sec i5s. when . bill Is protested such protest must be made on the day of the dishonor. unless delay is ex- cused as herein provided. When piil has been duly noted, the protest may be subsequently, extended as Of me date of the noting.
 Sec. 1Bs. A bill must hs protested at the place where 1t is dishonored. ex- cept that when bill drawn payable .. the place of business or residence oI some person other than the drawee nas been dishonored by non acceptance ~ must be protested for non payment at the place where 1t is expressed 70 oe payabie; and no other presentmen. .o. payment to, or demand on. the drawee' is necessary.
 Sec. I57. A bill which has been pro- tested for non acceptance may pc suo- sequently protested for non payment.
 Sec. I5s. Where the acceptor nss been adJudged a bankrupt or an insoi. vent or has made an assignment TOT tne beneft of creditors before the oiii ma be protested for better security agains' the drawer and indorsers. ,
 Sec. 15e. Prctest Is dispensed with bv any circumstances which would dis nenee with notice of dishonor. Delay Nh noting and protesting is excused when delay Is caused by circumstances beyond the control of the holder ana not imputabie to his defauit, miscon- duct or negligence. When the cause ot deaav ceased to operate. the bill must be noted or protested with reasonable
 sec 1so. where . bill is lost or de- stroved. or is wrongfuily detained from the person entitled to hold It, protest may be made on copy or written par. ticulGrs thereof
 Acceptance for Honor.
 Sec. 1s1. Where . bill of exchange has been protested for dishonor by non acceptance, or protested for better ses curity and Is not overdue. and person not being a party already liable therein nav. with the consent of the holder tnterevene and accept the bill supra protest for the honor any party haple thereon or for the honor of the person for whose account the bill fs drawn. The acceptance for honor may pc TOT mart only of the sum for which the bill is drawn. and where there mas been an acceptance for honor for one party. there may be : further accept- ance by a different psrsen for the hon- or of another party.
 Sec. 162 An acceptance for honor supra protest must be In writing sud Indicate that it tn an acceptance Tor
 Sec. 1ss. where an acceptance for honor does not expressly state Tor whose honor 1t is made 1t is deemed to be an acceptance for the honor or tns
 Sec. 1s4. The acceptor for honor is liable to the holder and to all parties to the bill subsequent to the party Tor whose honor he has accepted. Sec. 165. The acceptor for honor oy such acceptance engages that he will. on due presentment. pay the bill ac- cording to the terms of his acceptance provided 1t shall not have been paid Dy the drawer. and provided also, that IL shall have been duly presented for pay- ment and protested for non payment and notice of dishonor given to him. " Sec. ,ise. When bill paybie affer 8lKnL ACC0ptS0 ity is calculated from the date of the noting for non acoeptance and not from the date of the acceptance for honor,
 sec. ief. where . dishonored bin has been accepted for honor supra pro- test or contains . reference in case of need, it must be protested for non pay ment before 1t is presented for pay ment to the aeceptor for honor or ref apaa In eaaa Of need.
 Sec 1sS. Presentment for payment to the aceptor for honor must be made aa follows: E
 i. If 1t is to be presented in the place where the protest for non-pay- ment was made. 1t must be presented not later than the day following It's maturity.
 a. If 1t is to be presented in some other place than the place where 1t was protested. then 1t must be forwarded within the time specified in Section 10&.
 Sec. 1e9. The provisions sof Section s1 apply where there is delay in ma king presentment to the acceptor for honor or reference in case of need.
 Sec. ITO. When the bill is dishonor- ed by the acceptor for honor 1t must be protested for non payment by him,
 Payment Fer Honor.
 Sec. I'll. When q bill has been pro- tested for non payment, any person may intervene and pay it supra pro- test for the honor of any person liable thereon or for the honor of the per- son for whose account 1t was drawn.
 Sec. 172. The payment for honor supra protest in order to operate as such and not as a mere voluntary pay rnent must be attested by a notarial act of honor which may be appended to the protest or form apd extension to it.
 Sec. 17s. The notarial act of honor must be founded on declaration mad by the payer for honor or by his agent to pay the bill for honor and for which honor he pays.
 Sec. 174. Where two or more per sons offer to pay q bill for the honor of different parties the person whose payment will discharge most parties te 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 1t is paid are discharged. but the payer foI honor is subrogated for, and succeeds to, both the rights and duties of the holder as regards the party for whose honor he pays and all parties liable to the latter.
 Sec. ITS. Where the holder of a bill refuses to receive payment supra pro test, he loses the right of recourse against any party who would have been discharged by such payment.
 Sec. TIT. The payer for honor on paying to the holder the amount oi the bill and the notarial expenses inci- dental to its dishonor. is entitled to re- ceive both the bill inself and the pro-