ÆäÀÌÁö À̹ÌÁö
PDF
ePub

Payment to an unknown holder of a note, indorsed to a bank for collection is made at payor's risk. Barnett v. Ringgold, 80 Ky. 289.

[blocks in formation]

92.

Effect of notice given on behalf of holder.

93. Effect of notice as to subsequent parties and holder.

94. Notice by agent.

Notice-Sufficiency-Misdescrip

95.

tion.

96.

Notice-Form and how delivered.

97.

To whom notice may be given.

98. Notice where party is dead.

99. Notice to partners.

100.

Notice to persons jointly liable not partners.

101. Notice to bankrupt or insolvent.

102. When notice must be given.

103. Notice where parties reside in same

place.

104. Notice where parties reside in different places.

105. Where sent by mail; sufficiency.

106. Deposit in postoffice; when deemed. 107. Notice to antecedent party; time of. 108. To what place notice must be sent. 109. Waiver of notice.

110. Waiver in or on instrument.

111.

112.

Waiver of protest is waiver also of

presentment and notice.

When notice is dispensed with.

113. Excuse for delay in giving notice. 114. When notice need not be given to drawer.

115.

When notice need not be given to the indorser.

116. Notice of non-payment where notice of non-acceptance given.

117.

Effect of omission to give notice of

non-acceptance to holder in due

course.

118. When protest can and when must

be made.

§ 89. To Whom Notice of Dishonor Must Be Given.-"Except as herein otherwise pro

vided, when a negotiable instrument has been dishonored by non-acceptance or non-payment, notice of dishonor must be given to the drawer and to each indorser, and any drawer or indorser to whom such notice is not given is discharged."

To give cross references to this section would require citations to nearly every section of this article. The reader is referred to them for all exceptions, modifications and definitions.

This section states the law as it was in Kentucky. Young v. Exchange Bank, 152 Ky. 293, 153 S. W. 444; Higgins v. Morrison, 4 Dana 102; Todd v. Edwards, 7 Bush 89; Young, etc. v. Bennett, 7 Bush 474; Sebree Deposit Bank v. Moreland, 96 Ky. 150, 28 S. W. 153, 16 K. L. R. 404; Hays v. Citizen's Savings Bank, 101 Ky. 201, 40 S. W. 573, 19 K. L. R. 367; Murphy v. Citizen's Savings Bank, 110 Ky. 225, 61 S. W. 25, 25 K. L. R. 1672; Brown v. Crofton, 76 S. W. 372, 25 K. L. R. 753.

If the holder presents a bill before its maturity for acceptance and if it is then dishonored, he must give notice, even though he was not bound to present it until its maturity. Landrum v. Trowbridge, etc., 2 Met. 281; Union Nat. Bank v. Marr's Admr., 6 Bush 614.

Notice of dishonor must, under this section,

be given to every drawer and indorser whether for accommodation or otherwise. Mechanic's & Farmers' Savings Bank v. Katterjohn, 137 Ky.427, 125 S. W. 1071; Williams v. Paintsville Nat. Bank, 143 Ky. 781, 137 S. W. 535; First Nat. Bank v. Bickel, 143 Ky. 754, 137 S. W. 790; Grayson County Bank v. Elbert, 143 Ky. 750, 137 S. W. 792; First Nat. Bank v. Bickel, 154 Ky. 8, 156 S. W. 859.

An allegation that an indorser was "duly notified of the non-payment of the same" is insufficient. The facts, such as that the notice was in writing (Section 95 and Grayson County Bank v. Elbert, 143 Ky. 750, 137 S. W. 792) and the time when given and all other facts made necessary by this article, must be alleged. Hoyland v. National Bank, 137 Ky. 682, 126 S. W. 356.

§ 90. Notice-By Whom Given.-"The notice may be given by or on behalf of the holder, or by or on behalf of any party to the instrument who might be compelled to pay it to the holder, and who, upon taking it up, would have a right to reimbursement from the party to whom the notice is given."

The holder may constitute the acceptor his agent to give notice of dishonor, but the notice given by the agent must be given in the same

« ÀÌÀü°è¼Ó »