The Virginia enterprise. [volume] (Virginia, St. Louis County, Minn.) 1893-19??, 1913-05-02


ED Al PROMIsSORY NoTE.1 Wv herr III ss
ana Tswss sr s.ns ps1.ea
aaperson not having capacifvs 10 contract the
holder may treat the instrument 81 his O.
tion. either 40 bill Of sexchange 81 promis-
Sec. 1s1. 80 REFER EE IN CASE or NEED
The drawer sof a bin and. any inilorser may
insert thereon the name q I person to whom
3 say may Pe b u &. s.
non acceptance Or repayment Such person
Is called the. referee In case Of need & It Il
referee in case Of need Or not sas he may see
ct. 3 - - & 81
I. n FIJI & IS "a l3 s5G: s5s
s5s5 80 81 5.a
& s 49, 7 s.| 80, fs3
EFT cErERA.} The acceptance 81 4 bin is the
the oeder Of the ehe 2 The .eoepaan
It must not express that me drawee win per:
form I,ts nromtsa nv anv other means than
the nayment Of money - -
Sec ec ISr IN ~ AZ pIII , ny hoi1e;
- . shi,I ~ = ~ Vt aa Tor arcentanc,
nav o. PURE thai Ebe ns be Written
on the IA d., II such requsst 70 refused
may. l1 tta a 'ne oiii as oisnunos 's - ~,
:. Sec. 134--(ACCEPTANcE$ By sEPARAIlE
written on. paper other man the bin Itself.
it does not bind the acceptor except IN favor
Of q person to whom It is shown and a., who 40,
value. - - -. H.. !,
Sec. ,135.-PROMlSE TO ACCEPT; WHEN
TO ACCEPTANCE.J An un.
before it is drawn is deemed an actual ac-
ceptance IN favor Of every person who upor
the faith thereof; receives the bill for value;
10 AccEPT) The drawee is allowed twenty
four hours after presentment, In which to de-
eide whether or not he VIII accept the bill;
but the asssptanss stven dates as of the
o1 &c., Of slS s9e-eniIed OF DRAwEE RE
TANNING OR DESTROYING BILLY Where
a drawee to whom a bill il delivered for &C.
ceptance destroys the same or refuses within
twenty-four hours after such delivery. OF
accepted to the holder, he viii DO deemed to
have accepted the same.
Sec. 138.-(ACCEPTANCE OF. INCOM.
fore it has been signed BY the drawer. Q,
while otherwise incomplete. or when 1T ii
overdue, or after it has been dishonored by
mens. But when bill payable after sight
Is dishonored by non-acceptance and thu
drawee subsequently accepts 1t, the holder II
the absence Of any different agreement, 1.
entitled to have the bill accepted a. Of the
Sec 1se.-1KINDs OF AccEPrANCEs
an acceptance Is eitner eenetai % quam a1sa
cation to the order Of the drawer. A qualined
acceptance in express terms varieS the effect
Sec. 140.--(WHAT CONSTITUTES A GEN.
ERAL ACCEPTANCE) An acceptance to pay
at particular place is general acceptance
be paid there only, and noe elsewhere.
Sec 141.-(QUALIFTED ACCEPTANCE) A,
acceptance IS qualified, which is
makes payment by the AcceptOr dependent OF
the fu1fillment Of a condNson therein stated
~ Partial that IL to say. an seceptsns
the iii Bin IS drawn ' ~
~ Local, that is. to say. IN acceptance h
pay only at particular place;
{5) The acceptance Of some one Or more q
the drawees, but not Of ALL.
Sec; a42;atR1GMTs OF ,,o PARTIES rs AS ,3 Te
il he does not obtain an unqualified accept
ne ny VICE. auaneS
ance is taken the drawer and indorsers ar
DISCHARGED from liability on the bill, unles
they have expressly or implicitly authorized
Subsequently assent thereto. When the draw
er or an indorser receives notice Of a quail
time, express his dissent to the holder, or h,
will be deemed to have assented thereto.
ARTICLE III
aazsn>,,,,r,,r non .ccr,r.x~
PREsENTMENr FOR ACCEPTANCE
Sec. 143-fwHEN PREsENTMENT >FoF
ment for acceptance must be made
"a Where the bill Is payable after sight
or in any other case, where presentment To-
maturity of y the Instrument; or - 'A
(2) Where the bill expressly stipulates tina
it SHAH be presented for acceptance; or
where than at tho residence or plsoe Of busi
ness Of the drawee
In no other case 10 presentment for 40
naptx to the I biz liable. 't'e' -" 'en''' ~"'
:. Sec 144.-(WHEN FAILURE 10 PREsEN
RELEASES DRAWER AND INDoRsER.) Ell
Of weh is rsasd by me next
ceding section to be presented for acceptance
must either present It for acceptance or ne
fails to do So the drawer aud all indorserl
DIRE discharged.
Sec. 45.--(PREsENTMENT; HOW MADE.
Presertment for acceptance must be made b,
hour, on business day and before the bill II
overdue, to the drawee or some person au
his behalf; and:
~ Where bill 10 addressed to two
more drawees who are not partners. pre-
sentiment must be made 10 them az: unless
one has authority to accept or refuse &C
ceptance for all, in which case presentmen
may be made to him only.
ment may be made to hi, personal represen
tatiye; u,o ~. ,,.,.. -, ,... .,.,1..
-! where's tne oIIweo mas oeen adJuoeea (.
bankrupt or an insolvens or mas MADE an az
signment LOT me oene Il. % %. crealeoss t' pr
Sec 14e:v{0N WHAT PAYS rs present Isl NJ"
M M ne ceantanca ~ snv OH AN may ~ DC P
negouanie INSTRUMENTS o my De plessnteo to
paymeno unu d onbtpSra " +p, at VIZ,
entS-two anu hnr.,. .. .n1s M wn me
sen!meht ior aceep.aaes may DC nlaoo 0ehor'
'" Sa oIn Observation-Disclosures ST u Ep, ,,y.xx
IS 'I TNsIJEFICIENT1 Where the holder Of
phi Drawn payap'e eDSwnele 1nah a. Ih
pace OF BUSINESS .. inc fesloence or IN
Crave mas a,iio no. .tne WIN sne ee1c III; o. %
reasonable OluBeLlC0 10 present tho Dill 1Ol