The Birmingham age-herald., 1909-09-16
snt must be made with reasonable dn-

ment must be made with reasonable dil- igence.
 sec. S2. Presentment for payment dis pensed with:
 1. Where after the exercise of reason able diligence presentment as required by this act cannot be made.
 2. Where the drawee is fictitious per- son.
 or implied.
 Sec. s3. The instrument is honored by non-payment when:
 L It is duly presented for payment and payment is refused or cannot be ob- tained; or
 ?. Presentment is excused and the in- strument is overdue and unpaid.
 Sec s4. Subject to the provisions of this act when the instrument is dishonored by non-payment an immediate right of re- course to all parties secondarily liable thereon. accrues to the holder.
 Sec. S5. 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- strument is payable on the next succeed
 
 on Saturday are to be presented for pay ment on the next succeeding business day. except that instrument payable on demand may, at the option of the holder. be presented for payment before 12 o'clock noon on Saturday, when that entire day is not a holiday.
 Sec. S6 When the instrument is paya- ble at fixed period after date after sight. or after the happening of a speci- lied event, the time of payment Is deter mined by excluding the day from which | the time Is to begin to run and by in- cludfng the date of payment.
 Sec. ST. When 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 ! thereon.
 Sec. SS. Payment is made in due course when 1t Is made at or after maturity of the instrument to the holder thereof in good faith without notice that his title Is defective.
 Notice of Dishonor. | Sec. S9. Except as herein otherwise provided, when a negotiable instrument | has been dishonored by non-acceptance | or non-payment, notice of dishonor must be given to the drawer and to each in- dorser, and any drawer or indorser to whom such notice is not given is dis charged
 Sec. 90. 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 1t to the l holder, and who, upon taking 1t up, would have a right to reimbursement from the party to whom the notice is given.
 Sec. 91. Notice of dishonor may be given by an agent either in his own name or in the name of any party en- | titled to give notice, whether that party be his principal or not.
 Sec 92. Where notice is given by or on behalf of the holder, it inures for the benefit of all subsequent holders and all prior parties who have right to re- course against the party to whom 1t Is given.
 on behalf of party entitled to give mo- tice. 1t inures for the benefit of the holder and all parties subsequent to the party to whom notice is given.
 Sec. 94. Where the instrument has been dshonored 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 give notice to his principal he must do so within the same time as he were the holder and the principal upon the receipt of such notice, has himself the same time for ] dependent holder.
 Sec. 95. A written notice need not be signed. and an insufficient written notice may be supplement and validated by yer bal communication. A ms-description of the instrument does not vitiate unless the party to whom the notice is given is in fact msled thereby. Sec. 96. The notice may be in writing or merely oral and may be given in any terms which sufficiently identify the n- strument and indicate that it has been dishonored by non-acceptance or non- payment. It may in all cases be given by delivering 1t personally or through the mails.
 Sec 97. Notice of dishonor may be given either to the party himself or to his agents 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 be one, and if with reasonable diligence he can be found, if there be no personal repre- sentative, notice may be sent to the last residence or place of business of the de- ceased.
 Sec 99. Where the parties to be notified are partners notice to any one partner Is notice to the firm, even though there has been dissolution.
 Sec 100. Notice to joint parties who are not partners must be given to each of them, unless one of them has authority to receive such notice for the others. Sec. 101 Where a party has been ad- judged a bankrupt or an insolvent. or has made an assignment for the benefit of his creditors, notice may be given either to the party himself or to his trus- tee or assignee.
 Sec. 102. Notice may be given as soon as the instrument is dishonored, and un- less delay is excused as hereinafter pro- vided, must be given within the times 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:
 1. If at the place of business of tho person to receive notice, it must be given before the close of business hours on the day following.
 9. If given at his residence. it must be given before the usual hours of rest, on the day following. & If sent by mail, it must be depos- ited in the postoffice in time to reach him in the usual course on the day fol- lowing.
 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 it must be deposited in the postoffice in time to go by mall the day following the day of dishonor. or, if there be no mail at . convenient hour on that day, by the next mail thereafter. g. If given otherwise than through the