Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1917-04-09
PUBLIC LAWS OF THE STATE OF MAINE PASSED By


S Where the bill III is d rss;ds5 Dsyab ds
In no other case is presentment for
acceptance necessary tn order to rem
der party to sss P seren other
wise provided. the holder of bill which
is required by the next preceding sec
on to be for
or negotiate it within a reasonable
time. If he fails to do so. the drawer
and I'll for
ance must be made by or on behalf of
the holder. at a reasonable hour. on a
overdue. to the drawee or some person
authorized to accept or refuse accept
ance on his behalf; and;
ID Where a bill is addressed to two
or more drawees who are not partners,
presentment must be made to them all.
unless one has authority to accept or
ber a 70 b onS
CD Where the drawee is dead. pre-
sentiment may be made to his personal
representative;
(3) Where the drawee has been ad-
judged a bankrupt or an insolvent or
has made an assignment for the benefit
Of creditors. presentment may be made
to him or to his trustee or assignee.
Section 146. A bill may be presented
for acceptance on any day on which
negotiable instruments may be present
sections seventy-two and eighty-tive of
this act. When Saturday is not other
wise a holiday presentment for accept
'o Section ia '1 Ia. Where the holder Of
bill drawn payable elsewhere than at
of the drawee has not time with the
exercise of reasonable diligence to pre-
sent the bill for acceptance before pre-
senting it for payment on the day that
it falls due, the delay caused by pre-
senting the bill for acceptance before
presenting II for payment is excused
and does not discharge the drawers and
indorserS.
Section 14S. Presentment for accept
ance is excused and a bill may be treat
ed as dishonored by non acceptance, in
either of the following cases:
"a Where the drawee is dead or
has absconded. or is a fictitious per-
son or person not having capacity to
l2j Where. after the exercise of
reasonable diligence, presentment can
not be made;
(s( Where, although presentment
has been irregular. acceptance has been
refused on some other ground
Section 149. y bill is dishonored by
"a When it is duly presented for
acceptance and such an acceptance as
is prescribed by this act is refused or
cannot he obtained: or
go When presentment for accept
ance is excused and the bill is not ac-
copied.
Section 150 Where a bill is duly
presented for acceptance and is not &C
copied within the prescribed time, the
person presenting it must treat the bill
az dishonored by non-acceptance or he
loses the right of recourse against the
drawer and indorsers.
Section 1J1. When bill is dshon-
ored by non-acceptance, an. immediate
right of recourse against the drawers
and indorsers accrues to the holder and
presentment for payment is neces-
Sary.
Section 1872. Where foreign bill ap-
pearing on it's face to be such is dis
honored by non.acceptance, 1t must be
where such a bill which has not pre-
viously been dishonored by non accept
ance is dishonored by non-payment it
ment. If it is not SO protested. the
drawer and indorsers are discharged.
Where bill does not appear on its face
to he a foreign bill, protest thereof in
case of dishonor is unnecessary.
Section 1873. The protest must be an
neXed to the bill. or must contain a
copy thereof and must be under the
hand and seal of the notary making it,
and must specify:
(D The time and place of present
; (2) The fact that presentment was
made and the manner thereof;
CD The cause or reason for protest
: ing the bill;
, "a The demand made and the an
swer given, if any, or the fact that the
drawee or acceptor could not be found.
: Section 154.' Protest may be made
, CD a notary public; or
(2) BY any respectable resident of
= the place where the bill is dshonored.
in the presence of two or more cred
IDLE witnesses.
: Section 1875 When bill is protest
|. ed, such protest must be made on the
day Of it's dishonor. unless delay'is ex-
: cused as herein provided. When bill
t has been duly noted the protest may
be subsequently extended as of the date
Section 1856 a bill must he protest
l ed at the place where it is dishonored.
: except that when bill drawn payable
at the place of business, or residence
of some person other than the draWee,
has been dishonored by non-acceptance.
, i must be protested for non-payment at
: payable. and no further presentment for
payment to. or demand on, the draWee
is necessary.
f Section 157. A bill which has been
. protested for non-acceptance may be
l subsequently protested for non pay
= ment
: Section 1873 Where the acceptor has
> been adjudged a bankrupt or an insol-
vent. has made an assignment for
: the benefit Of creditors. before the bill
against the drawer and indorsers.
Section 15a. Protest is dispensed
with by any circumstances which would
: dispense with notice of dishonor. De-
| lay in noting or protesting is excused
when delay is caused by circumstances
: beyond the control of the holder. and
: not imputable to his default, miScon-
duct negligence. When the cause Of
= delay ceases to operate. the bill must
t be noted or protested with reasonable
: Section 100 When bill is lost or
| destroyed or is wrongly detained from
the person entitled to hold it. protest
may be made on copy or written par
. ticulars thereof.
2 Section 161. Where bill of OK
I change has been protested for dishonor
by non-acCeptance or protested for bet
ter security and is not overdue. any
D person not being party already liza
2 hle thereon may. with the consent of
4 the holder, intervene and accept the
. bill supra protest for the honor of any
9 party liable thereon or for the honor of
the person for whose account the bill
:. is drawn. The acceptance for honor
3 may be for the part only of the sum
for which the bill is drawn; and where
there has been an acceptance for honor
for one party, there may be a further
r acceptance by a different person for the
Section 1862. An acceptance for honor
! indicate that it is an acceptance for
: honor. and must be signed by the ac-
ceptor for honor.
Section 1853. Where an acceptance
( for honor does not expressly state for
whose honor it is made. IT Is deemed
r to be an acceptance for the honor OF