the money for which the bill or note is drawn or

01 0

For every £100, and also for any fractional part of £100

of such amount or value Note. The fact that a bill is payable with interest does not Bill affect the stamp,' e.g., a note for £50 payable with interest at 5 payable cent. requires only a 6d. stamp.

per

with

interest.

Exemptions.

(1). Bill or note issued by the Bank of England or Bank of ExempIreland.

(2). Draft or order drawn by any banker in the United King-
dom upon any other banker in the United Kingdom, not
payable to bearer or order, and used solely for the purpose of
settling or clearing any account between such bankers.
(3). Letter written by a banker in the United Kingdom to any
other banker in the United Kingdom directing the payment of
any sum of money, the same not being payable to bearer or
to order, and such letter not being sent or delivered to the
person to whom payment is to be made, or to any person on
his behalf.

(4). Letter of credit granted in the United Kingdom authorising
drafts to be drawn out of the United Kingdom payable in
the United Kingdom.

(5). Draft or order drawn by the accountant-general of the Court of Chancery.

share

(6). Warrant or order for the payment of any annuity granted by
the Commissioners for the Reduction of the National Debt,
or for the payment of any dividend or interest on any
in the government or parliamentary stocks or funds.
(7). Bill drawn by the lords of the Admiralty, or by any person

1 Pruessing v. Ing (1821), 4 B. & Ald. 204.

tions.

under their authority upon and payable by the accountantgeneral of the navy (Cf. 35 & 36 Vict. c. 20, s. 7).

(8). Bill drawn upon and payable out of any public account for any pay or allowance of the army or other expenditure connected therewith.

(9). Coupon, or warrant for interest, attached to and issued with
any security.

(10). Acknowledgment by a banker of the receipt of any bill of
exchange or promissory note for the purpose of being pre
sented for acceptance or payment. (See tit. Receipt.)
(11). Receipt written upon a bill of exchange or promissory note
duly stamped.

Protest,

&c., how

Protest and other Notarial Acts.

Sec. 116. The duty upon a notarial act and upon the protest by stamped. a notary public of a bill of exchange or promissory note may be denoted by an adhesive stamp, which is to be cancelled by the notary.

Amount.

Where the duty on a bill or note does not exceed 1s., the duty on the protest is the same as on the bill or note. In any other case the duty is 1s., and the duty on any notarial act other than a protest is 1s. See Sched.

INDEX.

ACCEPTANCE,

defined, 29

delivery or notification to complete, 41, 43. See Delivery.

in general by drawee, 32

by person other than drawee, 32

by one of several drawees, 32, 35. See Qualified Acceptance.

by two or more drawees, 4, 130. See Joint Parties.

by drawee in fictitious name, 32, 33

by fictitious person. See Fictitious Parties.

capacity to accept in general, 51

by infant, 52

by married woman, 52

by company or corporation, 33, 40

by banker, 55

authority to accept in general, 56–59

by partner, 62, 63. See Partner.

ACCEPTANCE-continued.

By whom:

by agent, 58. See Principal and Agent.
forged or unauthorised, 64-66

construed with address to drawee, 33
blank signature filled up as, 23
payable at bankers, 34. See Banker.
material alteration in, 196, 197
cross-acceptance as consideration, 67
of cheque, 207

presentment for. See Presentment for Acceptance.

obligation to accept, 162

General or Qualified:

what general, 34

what qualified, 34

effect of qualified, 35

holder's option to take qualified, 124

holder's duty after taking qualified, 124, 134
See Acceptor-Drawee-Signature.

ACCEPTANCE FOR HONOUR SUPRA PROTEST,
what bills may be so accepted, 36

who may accept, 36

for whose honour bill may be accepted, 36

presumption when party not named, 38
holder's option to refuse, 37

time for, 37

mode of accepting, 37, 38

form, 37

for part of amount of bill, 38

effect on holder's right of action, 38

Acceptor supra protest :

contract with holder, 175

estoppels which bind, 176

presentment for payment to, 140

rights and duties on payment, 192

ACCEPTOR,

letter B. used to denote in illustrations, Introd., p. iv.
defined, 2

accommodation acceptor, 75, 176. 194. See Accommodation Party.

who liable as, 32

signature of, 29, 58

bankruptcy of. See Bankruptcy.

death of. See Death.

ACCEPTOR-Continued.

contract with holder, 165

liability contrasted with drawer's, 165

compared with maker of note, 221, 225, 226

relations inter se of joint, 165. See Joint Parties.
estoppels which bind, 165

measure of damages against, 166

damages when laws conflict, 168

payment by, as a discharge, 181

effect when he is holder of bill at maturity, 188

giving time to or compounding with, 193, 194

presentment for payment to charge, 133. See Presentment for
Payment.

notice of dishonour to, 158. See Notice of Dishonour.

Statute of Limitations, as to, 201

How Liability of Acceptor negatived:

conditional acceptance and condition unperformed, 35, 134
intention to sign a different document, 41

forgery, &c., 64-66, 165, 197

capacity negatived, 51-55

consideration negatived (including fraud or illegality), 74,
76-82

transfer of property to holder negatived, 44, 45
jus tertii, 44, 75

discharge of bill or discharge inter partes, 178-200

ACCOMMODATION BILL,

defined, 75

term used in different senses, 76
value subsequently given for, 68

pledge of, 77

when deemed to be issued, 195

presumption as to bill being, 75, 81, 152

negotiated by payee after bankruptcy, 86

damages for refusing to accept, 163

bankruptcy of drawer, when acceptor has security, 176

costs of defending action on, 177

negotiation after maturity, 108

presentment for payment, when excused, 130

notice of dishonour, when excused, 152

payment by acceptor or maker as discharge, 181

payment by person accommodated as discharge, 181, 182

discharge of surety by dealings with principal, 194
foreign discharge of, 179