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SECTION 1681. Presentment for acceptance Whero made. must be made:

1. Where the bill is payable after sight, or in any other case where presentment for acceptance is necessary in order to fix the maturity of the instrument, or

2. Where the bill expressly stipulates that it shall be presented for acceptance, or

3. Where the bill is drawn payable elsewhere than at the residence or place of business of the drawee.

In no other case is presentment for acceptance necessary in order to render any party to the bill liable.

SECTION 1681-1. Except as herein otherwise Failure to provided, the holder of a bill which is required begotia .. by the next preceding section to be presented for acceptance must either present it for acceptance or negotiate it within a reasonable time. If he fail to do so, the drawer and all indorsers are discharged.

NOTE--Unreasonable delay of a payee of a draft to present it to the drawee, or to notify the drawee of its non-acceptance or non-payment, or to return it to the drawer as refused by the payee, makes the paper the payee's own, and discharges the drawer. lan v. Eldred, 50 Wis., 132.

E, being indebted to A, proposed to give him an order on X, and A refused to receive it giving no reason except that he wanted the

E then promised to send A a sixty-day draft, which A understood was to be on a bank. Six weeks thereafter A wrote to E asking the latter to send him a sixty-day draft for the amount due, and E sent him a sixty-day draft on X. Without presenting this draft to X, returning it to E, or making any objection to it, A kept it about a year, and then offered to return it, but I re'used to receive it. It does not appear that X was unable to pay he draft at any time, or that E suffered any loss by the delay in resenting or returning it. Ileld, that these facts are not suflicient

law to relieve A from the operation of the rule above stated, in he absence of any finding by the jury that E acted in bad faith

sending the draft to A under the circumstances. Ibid.

The taking of an order drawn upon a third person for the mount of a previous indebtedness of the drawer to the payee is rima facie a payment of the debt, and is absolute payment if, the rawee having funds to pay the order, the payee or holder fails to resent it for payment within a reasonable time to the drawer. hierl r. Baumel, 75 Wis., 69.

At the time of giving such an order and for a long time there. ter the drawees were indeblel to the drawer in an amount largely

AL

money.

in excess of the order, and at a subsequent settlement between them the amount of the order was credited to the drawees and charged to the drawer. Held, that this was equivalent to funds in their hands to pay the order. Ibid.

Failure to present such an order for payment or to give notice of its non-payment within a reasonable time, is not waived by a subsequent promise of the drawer to pay the order, unless such promise is made with knowledge of the facts. Ibid.

The burden of proving that the promise was made with such knowledge is upon the holder of the order, at least where it appears upon the trial that he was in fact guilty of laches before the promise was made. Ibid.

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SECTION 1681-2. Presentment for acceptance must be made by or on behalf of the holder at a reasonable hour, on a business day and before the bill is overdue, to the drawer or some person authorized to accept or refuse acceptance on his be half; and

1. 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 refuse acceptance for all, in which case presentment may be made to him only;

2. Where the drawee is dead, presentment may be made to his personal representative;

3. Where the drawee has been adjudged 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 1681-3. A bill may be presented for acceptance on any day on which negotiable instruments may be presented for payment under the provisions of sections 1678-2 and 1678-15.

NOTE-A delay in the mall is a sufficient excuse for delay to at once present a bill, and it may be done at once on receipt. v. Blatchey, 6 Wis., 413.

Presentment of bill.

Walsh

Delay, when
excusable,

SECTION 1681-1. Where the holder of a bill drawn payable elsewhere than at the place of business or the residence of the drawee has not time with the exercise of reasonable diligence to present the bill for acceptance before presenting it for payment on the day that it falls due, the de jay caused by presenting the bill for acceptance before presenting it for payment is excused and does not discharge the drawers and indorsers.

when excused.

honored.

SECTION 1681-5. Presentment for acceptance Presentment, is excused and a bill may be treated as dishonored by non-acceptance, in either of the following cases :

1. Where the drawee is dead, or has absconded, or is a fictitious person or a person not having capacity to contract by bill.

2. Where, after the exercise of reasonable diligence, presentment cannot be made.

3. Where, although presentment has been irregular, acceptance has been refused on some other ground.

SECTION 1681-6. A bill is dishonored by non- When disacceptance,

1. When it is duly presented for acceptance and such an acceptance as is prescribed by this act is refused or cannot be obtained; or

2. When presentment for acceptance is excused and the bill is not accepted.

SECTION 1681-7. When a bill is duly presented Recourse. for acceptance and is not accepted within the prescribed time, the person presenting it must treat the bill as dishonored by non-acceptance or he loses the right of recourse against the drawer and indorsers.

SECTION 1681-8. When a bill is dishonored by When recourse non-acceptance, an immediate right of recourse against the drawers and indorsers accrues to the holder and no presentment for payment is necessary.

when lost.

accrues.

PROTEST.

bill.

Sec. 1681–9

1901, c 41

SECTION 1681-9. Where a foreign bill appear. As to foreign ing on its face to be such is dishonored by nonacceptance, it must be duly protested for non-acceptance, and where such a bill which has not previously been dishonored by non-acceptance is dishonored by non-payment, it must be duly protested for non-payment. If it is not so protested, the drawer and indorsers are discharged. Where a bill does not appear on its face to be a foreign

bill, protest thereof in case of dishonor is unnecessary.

NOTE-TIME OF PROTEST, --Cannot be made until the bill is due. Stacy v. Dane Co. Bk., 12 Wis. 702. Welsh v. Dart, 12 Wis. 630.

Specifications of protest.

SECTION 1681-10. 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:

1. The time and place of presentment;

2. The fact that presentment was made and the manner thereof;

3. The cause or reason for protesting the bill;

4. The demand made and the answer given, if any, or the fact that the drawee or acceptor could not be found.

NOTE--A protest stating that a note, describing it, had been "protested for non-payment," and that the holder looked to the indorser for payment, is suficient. The word “protest" fairly implies the dishonor of the instrument. Such a notice substantially contains the following requisites : 1. Description of instrument. 2. Assertion of presentment and dishonor. 3. That the holder looks to the person to whom note is given for payment, etc. Brewster 7. Arnold, 1 Wis., 264, 273.

A notarial certificate stating that a note or bill was protested, was presented for payment "at Montello," and payment demanded and refused, but not stating to whom or at what place in the town of Montello, does not show such a presentation to the maker as will charge indorsers. Duckert v. Lilenthal, 11 Wis., 55.

The words “Notice for W. W. (left at his house) Oshkosh” in the notary's certificate of service of notice of the dishonor of a note indicate that the notice was served by leaving it at the dwelling house of the person named. Adams v. Wright, 14 Wis., 442

The omission to say "dwelling house" did not vitiate the certis cate. Notaries are only to be held to reasonable certainty in the use of language. Ibid.

Neither is the certificate defective in not stating the hour of the day when the notice was left, or with whom it was deposited whether a member of the family or other person, or the particular circumstances attending the service, or that the indorser was absent. Ibid,

A notice of protest of a note payable at the banking office of 1 bank and indorsed by it, addressed to J. S. H. Pres't, describing the note by its amount, date, time of payment and the name of the maker, and stating that the note has been dishonored and the holder looks to you for payment, left at the banking office of such bank in due time, is sufficient to charge it as such indorser. Aiken v. Marine Bk., 16 Wis., 713.

A notice of protest is sufficient if it conveys the necessary iDformation; and mistakes of description and inaccuracies do not vitiate it, if the person to be notified could not have been mis by it. Ibid.

When a note payable at the banking office of a bank is indorsed by it, and is presented there at maturity and payment demanded

of the proper agent of the bank, which is refused, query whether a formal notice of protest to the bank is necessary in order to charge it as such indorser. Ibid.

A notice of the protest of a note is sufficient if it contains a true description of the note and states that it has been presented at maturity and dishonored, and that the holder looks to the indorser for payment. Glicksman v. Early, 78 Wis., 223.

SECTION 1681-11. Protest may be made by, - How made. 1. A notary public; or

2. By any respectable resident of the place where the bill is dishonored, in the presence of two or more credible witnesses.

SECTION 1681-12. When a bill is protested, When mado. su

protest must be made on the day of its dishonor, unless delay is excused as herein provided. When a bill has been duly noted, the protest may be subsequently extended as of the date of the noting

SECTION 1681-13. A bill must be protested at Where made. the place where it is dishonored, except that when a bill drawn payable at the place of business, or residence of some person other than the drawee, has been dishonored by non-acceptance, it must be protested for non-payment at the place where it is expressed to be payable, and no further presentment for payment to, or demand on, the drawee is necessary.

SECTION 1681-14. A bill which has been pro- For non-paytested for non-acceptance may be subsequently protested for non-payment.

SECTION 1681-15. When the acceptor has When acbeen adjudged a bankrupt or an insolvent or has contor a bankmade an assignment for the benefit of creditors, before the bill matures, the holder may cause the bill to be protested for better security against the drawer and indorsers. SECTION 1681-16. Protest is dispensed with by Whendis:

pensed with. any circumstances which would dispense with notice of dishonor. Delay in noting or protest

ng is excused when delay is caused by circumstances beyond the control of the holder and not mputable to his default, misconduct or negligence. When the cause of delay ceases to ope

ment.

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