The Republican journal. [volume] (Belfast, Me.) 1829-current, 1917-04-05

ing the instrument engages that he will
pay 1t according to the tenor Of his ac-
ceptance; and admits.
u The existence OF the drawer, the
genuireness of his signature, and his
capacity and authority to draw the in
strument; and
his then capacity to indorse.
nature upon an instrument otherwise
deemed to be an indorser, unless he
clearly indicates by appropriate words
his intention to be bound in some other
Section Ga. Where a person, not 9TH
erwise party to an instrument, places
thereon his signature in blank before
cordance with the following rules:
az II the instrument Is payable to
the order Of a third person, he is liza
bic to the payee and to all subsequent
l2) If the instrument is payable to
the order of the maker or drawer, or Is
payable to bearer, he is liable to all par
.(s) If he signs for the accommoda-
parties subsequent to the payee
Section 65. Every person negotiating
an instrument by delivery or by quail
flied Endorsement, warrants:
% That the instrument is genuine
and In all respects what 1t purports
w Ildl Il6 mas q BOou tIllo " Iva
(s) That all prior parties had ca ]
pacity to contract;
CO That he has no knowledge of any
fact which would impair the validity Of
the instrument or render it valueless.
But when the negotiation is by de-
livery only. the warranty extends in ia
yor Of no holder other than the imme-
diate transferee.
The provisions of subdivision three
of this section DO not apply to persons
negotiating public or corporation Sc
nth hoy
Section &c. Every indorser who IN
dorses without qualification, warrants
to all subsequent holders in due course:
a.. The matters and things men.
toned In subdivision one, two and
three of the next preceding section: and
CD That the instrument is at the
time of his Endorsement valid and sub
sisting.
And in addition. he engages that on
due presentment, it shall be accepted
or paid. or both. The case may be.
according to its tenor, and that IL 1t
be dishonored. and the necessary pro-
ceedings on dishonor be duly takea, he
er, or to any subsequent indorser who
may be compelled to pay it.
Section g., Where person places
gotiable by delivery he incurs all the
liabilities of an indorser,
Section IS. AS respects one another
tndorsers are liable prima facie in the
order in which they indorse; but evil
dence is admissible to show that as be-
tween, or among themselves they have
joint indorsees Who indorse are deemed
to indorse Jointly and severally.
Section SO. Where a broker or other
out indorsement he tncurs all the LA
bilities prescribed by section sixty-five
of this act, unless he dtscloses the
name nam :, Of ! his , principal, and the fact
Section 10. Presentment for payment
is not necessary in order to charge the
person primarily liable on the instru-
ment; but if the instrument is, by it's
terms. payable at a special PLACE, and
he is able and willing to pay It there at
maturity, such ability and WILLINGNESS
upon his part. But except as herein
otherwise provided presentment for
payment is necessary in order to charge
the drawer and indorSers.
Section II. Where the instrument Is
not payable on demand, presentment
must be made on the day 1t falls due.
sentiment must be made within rea-
sonable time after its issue except that
in the case of a bill of exchange, pre-
sentiment for payment will be sufficient
If MADE within reasonable time after
the last negotiation thereof.
Section ~. Presentment for pay
ment to be sufficient, must be made,
G} By the holder, or by some per
son authorized to receive payment on
his behalf; ,,,,,
1s) At a proper place as herein de-
an (. To the on RFT he Is apsshe
or inaccessible. to any person found at
the place where the presentment Is
Section 49, Presentment for payment
is made at the proper place:
(1) Where place of payment IL
specified in the instrument and 1T Is
129 Where no place Of payment is
to make payment Is given In the IN
(3) Where no place of payment ls
specified and no address is given and
the instrument is presented at the 9su VA
place of business or residence OF the
person to make payment; -
"a In any other case II presented
the person no t forpd make or If P prsnen3
ed at his last known place OF business
" Section u. The instrument must be
pavment is demanded, and when II Is
paid must be delivered up to the party
paying it. ,.-,,.,. Il,
payable at a bank, presentment for pay
nent must be made during banking
hours. unless the person to make pay
ment has no funds there to meet II AT
any time during the day, in. which case
n,,s at any hour before the
bank is closed or that day is sufficient.
Section Il 3. w mere Il peTSpI. ~ ,llt''
rily liable on the instrument is dead'
and no place of payment is specltea,
presentment for payment must be mace
10 his personal repre- sentatlVe IT. suci1
there he. and if. with the exercise OF
reasonable diligence, he can be fouhq.
Section IL Where the persons prl-
marilv liable on the instrument are VA
bic as partners, and no place or pay
ment is specified, presentment 19r pay
ment may he made to any one OF thcln'
even though there has been olsso'u-
ton of the firm. ..-.,
Section rs. Where there are sGTHrAi
, persons, not partners, primarily liahle
on the instrument and no place "i pay
1nent is specified. presentmcn. must he
, made to them all
mont is not required in order to charge
the drawer where he has no right 10
expect or require that tho drawee or
acceptor will pay the instrument.
l Section so. Presentneni Tor nay
mont is not required in order ~ charge
an indorser where the INSTRUMENT WAS
made or accepted for his acHWnlnod"-
tion and he has no reason 70 cNp"ci
that the instrument Will be palf II pre-
Section ST. Delay in making pre-
, sentiment for Tayn3ent lS excused whom
the DELAY is caused by circumstances
beyond the control of the holder, aNH
net imputable to his default mlscon,,
, duct or negligence. When the cause OF
delav ceases to operate. presentmont
must he made with reasonable dill