페이지 이미지
PDF
ePub

§ 92. For whose benefit notice enures.—Where notice is given by or on behalf of the holder, it enures for the benefit of all subsequent holders and all prior parties who have a right of recourse against the party to whom it is given. (Acts 1907, Reg. Sess., c. 81.)

§ 93. Where notice is given by or on behalf of a party entitled to give notice, it enures for the benefit of the holder and all parties subsequent to the party to whom notice is given. (Acts 1907, Reg. Sess., c. 81.)

$94. Instrument dishonored in hands of agent.-- Where the instrument has been dishonored in the hands of an agent, he may either himself give notice to the parties liable thereon, or he may give notice to his principal; if he gives notice to his principal, he must do so within the same time as if he were the holder, and the principal, upon the receipt of such notice, has himself the same time for giving notice as if the agent had been an independent holder. (Acts 1907, Reg. Sess., c. 81.)

$ 95. Sufficiency of notice. A written notice need not be signed, and an insufficient written notice may be supplemented and validated by verbal communication; a mis-description of the instrument does not vitiate the notice unless the party to whom the notice is given is in fact misled thereby. (Acts 1907, Reg. Sess., c. 81.)

§ 96. The notice may be in writing or merely oral and may be given in any terms which sufficiently identify the instrument and indicate that it has been dishonored by non-acceptance or nonpayment; it may in all cases be given by delivering it personally or through the mails. (Acts 1907, Reg. Sess., c. 81.)

§ 97. Notice to agent.—Notice of dishonor may be given either to the party himself or to his agent in that behalf. (Acts 1907, Reg. Sess., c. 81.)

§ 98. When party is dead.-—When any party is dead, and his death is known to the party giving the notice, the notice must be given to a personal representtive, if there be one, and if with reasonable diligence, he can be found; if there be no personal representative, notice may be sent to the last residence or last place of business of the deceased. (Acts 1907, Reg. Sess., c. 81.)

$ 99. Notice to partners.—. Where the parties to be notified are partners, notice to any one partner is notice to the firm, even though there has been a dissolution. (Acts 1907, Reg. Sess., C. 81.)

$ 100. Notice to other joint parties.—Notice to joint parties who are not partners must be given to each of them, unless one of them has authority to receive such notice for the others. (Acts 1907, Reg. Sess., c. 81.)

$ 101. Notice to bankrupt or insolvent.—Where a party has been adjudged a bankrupt or an insolvent, or has made an assignment for the benefit of creditors, notice may be given either to the party himself or to his trustee or assignee. (Acts 1907, Reg. Sess., c. 81.)

$ 102. Time for notice.- Notice may be given as soon as the instrument is dishonored, and unless delay is excused as hereinafter provided, must be given within the time fixed by this act. (Acts 1907, Reg. Sess., c. 81.)

$ 103. Where the person giving and the person to receive notice reside in same place, notice must be given within the fol. lowing times: (1) If given at the place of business of the person to receive notice, it must be given before the close of business hours on the day following; (2) if given at his residence, it must be given before the usual hours of rest on the following day; (3) if sent by mail, it must be deposited in the postoffice in time to reach him in the usual course of the day following. (Acts 1907, Reg. Sess., c. 81.)

$ 104. Where the person giving and the person to receive reside in different places, the notice must be given within the following times: (1) If sent by mail, it must be deposited in the postoffice in time to go by mail the day following the day of dishonor or if there be no mail at a convenient hour on that day, by the next mail thereafter. (2) If given otherwise than through the postoffice, then within the time that notice would have been received in due course of mail, if it had been deposited in the postoffice within the time specified in the last subdivision. (Acts 1907, Reg. Sess., c. 81.)

§ 105. Notice by mail; sufficiency.—Where notice of dishonor is duly addressed and deposited in the post office, the sender is deemed to have given due notice, notwithstanding any miscarriage in the mails. (Acts 1907, Reg. Sess., c. 81.)

§ 106. Notice is deemed to have been deposited in the post office when deposited in any branch post office or in any letter box under the control of the post office department. (Acts 1907, Reg. Sess., c. 81.)

$ 107. Time for notice by party receiving notice of dishonor.Where a party receives notice of dishonor, he has, after the receipt of such notice, the same time for giving notice to antecedent parties that the holder has after the dishonor. (Acts 1907, Reg. Sess., c. 81.)

$ 108. Address to which notice sent.--Where a party has added an address to his signature, notice of dishonor must be sent to that address; but if he has not given such address, then the notice must be sent as follows: (1) either to the postoffice nearest to his place of residence or to the postoffice where he is accustomed to receive his letters; or (2) if he lives in one place, and have his place of business in another, notice may be sent to either place; or (3) if he is sojourning in another place, notice may be sent to the place where he is sojourning; but where the notice is actually received by the party within the time specified in this act, it will be sufficient, though not sent in accordance with the requirements of this section. (Acts 1907, Reg. Sess., C. 81.)

§ 109. Waiver of notice.—Notice of dishonor may be waived, either before the time of giving notice has arrived, or after the omission to give due notice, and the waiver may be express or implied. (Acts 1907, Reg. Sess., c. 81.)

§ 110. Where the waiver is embodied in the instrument itself, it is binding upon all parties; but where it is written above the signature of an indorser it binds him only. (Acts 1907, Reg. Sess., c. 81.)

$111. A waiver of protest whether in the case of a foreign bill of exchange or other negotiable instrument, is deemed to be waiver not only of the formal protest, but also of a presentment and notice of dishonor. (Acts 1907, Reg. Sess., c. 81.)

§ 112. When notice dispensed with.—Notice of dishonor is dispensed with when, after the exercise of reasonable diligence, it can not be given to or does not reach the parties sought to be charged. (Acts 1907, Reg. Sess., c. 81.)

§ 113. When delay in giving notice excused.-Delay in giving notice of dishonor 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 operate, notice must be given with reasonable diligence. (Acts 1907, Reg. Sess., c. 81.)

$ 114. When notice to drawer not required.-Notice of dishonor is not required to be given to the drawer in either of the following cases: (1) Where the drawer and the drawee are the same person; (2) where the drawee is a fictitious person or a person not having capacity to contract; (3) where the drawer is the person to whom the instrument is presented for payment; (4) where the drawer has no right to expect or require that the drawee or acceptor will honor the instrument; (5) where the drawer has countermanded payment. (Acts 1907, Reg. Sess., C. 81.)

§ 115. When notice to indorser not required.—Notice of dishonor is not required to be given to an indorser in either of the following cases: (1) where the drawee is a fictitious person or a person not having capacity to contract and the indorser was aware of the fact at the time he indorsed the instrument; (2) where the indorser is the person to whom the instrument is presented for payment; (3) where the instrument was made or accepted for his accommodation. (Acts 1907, Reg. Sess., c. 81.)

§ 116. Dishonor by non-acceptance; notice of subsequent dishonor by non-payment unnecessary.- Where due notice of dishonor by non-acceptance has been given, notice of a subsequent dishonor by non-payment is not necessary, unless in the meantime the instrument has been accepted. (Acts 1907, Reg. Sess., c. 81.)

$ 117. Same: omission to give notice.- An omission to give notice of dishonor by non-acceptance does not prejudice the rights of a holder in due course subsequent to the omission. (Acts 1907, Reg. Sess., c. 81.)

118. Protest for non-acceptance or non-payment.- Where any negotiable instrument has been dishonored it may be protested for non-acceptance, or non-payment as the case may be; but protest is not required except in the case of foreign bills of exchange; and where protest of any negotiable instrument is made, the certificate of protest shall be prima facie evidence of what is stated therein or on the foot or on the back thereof in relation to the presentment, dishonor and notice thereof. (Acts 1907, Reg. Sess., c. 81.)

ARTICLE VIII.-DISCHARGE OF NEGOTIABLE INSTRUMENTS.

$ 119. How instruments discharged.—A negotiable instrument is discharged (1) by payment in due course by or on behalf of the principal debtor; (2) by payment in due course by the party accommodated, where the instrument is made or accepted for accommodation; (3) by the intentional cancellation thereof by the holder; (4) by any other act which will discharge a simple contract for the payment of money; (5) when the principal debtor becomes the holder of the instrument at or after maturity in his own right. (Acts 1907, Reg. Sess., c. 81.)

$ 120. How persons secondarily liable discharged.—A person secondarily liable on the instrument is discharged (1) by any act which discharges the instrument; (2) by the intentional cancellation of his signature by the holder; (3) by the discharge of a prior party; (4) by a valid tender of payment made by a prior party; (5) by a release of the principal debtor, unless the holder's right of recourse against the party secondarily liable is expressly reserved; (6) by any agreement binding upon the holder to extend the time of payment, or to postpone the holder's right to enforce the instrument, unless made with the assent of the party secondarily liable or unless the right of recourse against such party is expressly reserved. (Acts 1907, Reg Sess., c. 81.)

§ 121. Payment by party secondarily liable.--When the instrument is paid by a party secondarily liable thereon, it is not

« 이전계속 »