§ 80. When Presentment Not Required to Charge Indorser.-"Presentment for payment is not required in order to charge an indorser where the instrument was made or accepted for his accommodation, and he has no reason to expect that the instrument will be paid if presented."

Risk v. Bridgeford, 15 K. L. R. 206.

The person accommodated is the one who gets the proceeds of the paper and not the one on whose name it is advanced. First Nat. Bank v. Bickel, 143 Ky. 754, 137 S. W. 790.

§ 81. Excuse For Delay in Making Presentment. "Delay in making presentment for payment is excused when the delay is caused by circumstances beyond the control of the holder, and not imputable to his default, misconduct or negligence (Sec. 105). When the cause of delay ceases to operate, presentment must be made with reasonable diligence."

For instance

state of war between the country of the holder's residence and that of the drawee is a good excuse for not making presentment. Berry v. Southern Bank of Kentucky, 2 Duv. 379; Bell, etc. v. Hall's Exr., 2 Duv. 288.

§ 82. When Presentment May Be Dispensed With.-"Presentment for payment is dispensed with:

(1) "Where, after the exercise of reasonable diligence, presentment as required by this act can not be made.

son.

(2) "Where the drawee is a fictitious per

(3) "By waiver of presentment, express or implied."

A waiver of presentment, embodied in the paper, binds an indorser. Owensboro Savings Bank, etc., Rec. v. Haynes, 143 Ky. 534, 136 S. W. 1004.

§ 83. Dishonor for Non-Payment.—“The instrument is dishonored by non-payment when:

(1) "It is duly presented for payment and payment is refused or can not be obtained; or

(2) "Presentment is excused and the instrument is overdue and unpaid."

§ 84. Liability of Person Secondarily Liable When Instrument Is Dishonored."Subject to the provisions of this Act, when the instrument is dishonored by non-payment, an immediate right of recourse to all parties secondarily liable (Sec. 191) thereon, accrues to the holder."

§ 85. Maturity-Days of Grace Abolished-Sunday, Holidays.-"Every negotiable instrument is payable at the time fixed therein, without grace. When the day of maturity falls upon Sunday, or a holiday, the instrument is payable on the next succeeding business day."

As to what days are holidays, see Kentucky Statutes of 1909, Sections 2089a and 2089b, which are as follows:

"Section 2089a. The 1st day of January, the 22nd day of February, the 30th day of May, the 4th day of July, the 25th day of December of each year, and all days appointed by the President of the United States or by the Governor of this Commonwealth as days of fasting or thanksgiving, are declared holidays, on which all the public offices of this Commonwealth may be closed; and shall be treated and considered as Sunday or the Christian Sabbath for all purposes regarding the presenting for payment or acceptance, and of protesting for and giving notice of the dishonor of bills of exchange, bank checks and promissory notes, placed by law upon the footing of bills of exchange. If any of those days named as holidays shall occur on Sunday, the next day thereafter shall be observed as a holiday; but bills of exchange or other paper may be presented for payment or ac

ceptance on the Saturday preceding such holiday, and proceeded on accordingly."

"Section 2089b. The first Monday in September known as Labor Day shall be a legal holiday, and no person shall be compelled to labor on said day by any person or corporation. (This section is an Act of March 17, 1902.)"

Act of March 14, 1910:

"The 12th day of October of the year 1910 and the 12th day of October thereafter is hereby declared a legal holiday to be known as "Columbus Day," and the same shall be recognized, classed, and treated as other legal holidays under the laws of this State."

This section abolishes days of grace and also changes the law (Section 2089a supra) as to the date of presentment.

A note reading "one hundred and eighty days pay, etc.," means payable after and not within that time. Moreland's Admr. v. Citizen's Savings Bank, 114 Ky. 577, 71 S. W. 520, 24 K. L. R., 1354.

§ 86. Computation of Time.-"Where the instrument is payable at a fixed period after date, after sight, or after the happening of a specified event, the time of payment is

determined by excluding the day from which the time is to begin to run, and by including the date of payment."

§ 87. Instrument Payable at a Bank, equivalent to An Order on the Bank.-"Where the instrument is made payable at a bank it is equivalent to an order to the bank to pay the same for the account of the principal debtor thereon."

But making a note payable at a bank does not of itself constitute the bank agent of the holder to receive the money. Caldwell v. Evans, 5 Bush 380. Nor does a deposit in bank by a payor to payee's credit, without her authority, constitute a payment. Morgan v. Perkins, 159 Ky. 98, 166 S. W. 799.

§ 88. Payment in Due Course.-"Payment is made in due course (Sec. 74) when it is made at or after maturity of the instrument to the holder (Sec. 190) thereof in good faith and without notice that his title is defective."

Payment to one joint payee is payment to all. Legrand v. Baker, 6 T. B. Mon. 245; Morrow's Heirs v. Starke's Admr., 4 J. J. Mar. 367; Perry v. Perry, 98 Ky. 242, 32 S. W. 755, 17 K. L. R.