The Bennington evening banner. (Bennington, Vt.) 19??-1961, 1913-03-05

pdlQ must be delivered up 10 the party
paying it.
Sec. 10. Presentment Where Instru-
ment Payable at Bank. Where the
instrument is payable at a bank, pre-
sentiment for payment must be made
during banking hours, unless the per-
son to make payment has no funds
there to meet 1t at any time during
the day, in which case presentment
at any hour before the bank is closed
on that day is sufficient
Sec. 76. Presentment where Prin-
cipal Debtor Is Dead. Where a per-
son primarily liable on the instrument
is dead, and no place of payment is
specified presentment for payment
must be made to his personal repre-
sentative if such there be, and If,
with the exercise of reasonable dill
gen e, he can be found.
Sec. II. Presentment to Persons
Liable as Partners. Where the per-
sons primarily liable on the instru-
ment are liable as partners, and no
place of payment is specified, pre-
sentiment for payment may be made
to any one of them, even though there
has been dissolution of the firm.
Sec. rs. Presentment to Joint Debt
4 ors. Where there are several persons,
not partners, primarily liable on the
instrument, and no place of payment
! is specified, presentment must be
made to them all
! Sec. 10, When Presentment not Re
quired 10 Charge the Drawer Pre-
/ sentiment for payment is not required
! in order TO charge the drawer where
! he has no right to expect or require
that the drawee or acceptor will pay
| the instrument
! Sec so When Presentment not Re-
! quired to Charge the Indorser. Pre-
/ sentiment for payment is not required
/ in order to charge an indOrser where
The instrument was made or accepted
/ for his accommodation and he has no
reason TO expect that the instrument
will be paid if presented
Sec. ST. When Delay in Making
Presentment is Excused Delay in
making presentment for payment is
excused when the delay is caused by
circumstances beyond the control of
the holder, and not imputable to his
/ default, misconduct or negligence.
When the cause of delay ceases to
I operate. presentment must be made
with reasonable diligence.
Sec. 80 When Presentment May
BE Dispensed with. Presentment for
/ payment is dispensed with;
4 Cd Where after the exercise OF
reasonable diligence presentment as
required by this act cannot be made;
CD Where the drawee is a fictitious
person;
90 BY waiver of presentment, eX-
press or implied.
Sec. SO. When instrument Dis
honored by Non-Payment The instru-
ment is dishonored by non-payment
when,
Cd 1t is duly presented for pay
ment and payment is refused or can
not be obtained; or
~ Presentment is excused and the
instrument is overdue and unpaid
Sec. 81. Liability of Person Second
arily Liable when Instrument Dis.
honored. Subject to the provisions OF
this act, when the instrument is dis
honored by non-payment, an immedi-
ate right of recourse to all parties
secondarily liable thereon accrues to
AttN AibA'iNAs
Sec. So. Time OF Maturity Every
negotiable instrument is payable at
the time fixed therein without grace
When the day of maturity falls upon
Sunday. or a holiday. the instrument
is payable on the next succeeding
business day. Instruments payable on
demand may at the option of the
holder be presented for payment
before II O'Clock noon on Saturday
when that entire day is not holiday
Sec sc. Time; How Computed
Where the instrument is payable at a
fixed period after date, after sight OF
after the happening of specified
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 date of payment.
Sec 81. Rule Where instrument
Payable at Bank Where the instru
ment is made payable at a bank it is
equivalent to an order to the bank "a
pay the same for the account of the
principal debtor thereon.
Sec S. What Constituted Payment
in Due Course Payment is made
in due course when it is made at OF
after the maturity of the instrument
20 the holder thereof In good faith
and without notice that his title is
defective
ARTICLE VII.