any party entitled to give notice, whether that party be his principal or not. See note to § 3082. §3173. Effect of notice. Where notice is given by or on behalf of the holder, it inures 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. See note to § 3082. § 3174. Effect where notice is given by party entitled thereto. Where notice is given by or on behalf of a party entitled to give notice, it inures for the benefit of the holder and all parties subsequent to the party to whom nótice is given, See note to § 3082. § 3175. When agent may give notice. 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 give 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. See note to § 3082. § 3176. When notice sufficient. A written notice need not be signed, and an insufficient written notice may be supplemented and validated by verbal communication. A misdescription of the instrument does not vitiate the notice unless the party to whom the notice is given is in fact misled thereby. See note to § 3082. §3177. Form of notice. 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 nonacceptance or nonpayment. It may in all cases be given by delivering it personally or through the mails. See note to § 3082. § 3178. To whom notice given. Notice of dishonor may be given either to the party himself or to his agent in that behalf. See note to § 3082. § 3179. Notice where party is dead. When any party is dead, and his death is known to the party giving notice, the notice must be given to a personal representative, 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. See note to § 3082. § 3180. 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. See note to § 3082. § 3181. Notice to persons jointly liable. 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. See note to § 3082. § 3182. Notice to bankrupt. 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. See note to § 3082. § 3183. Time within which notice must be given. Notice may be given as soon as the instrument is dishonored; and unless delay is excused as hereinafter provided, must be given within the times fixed by this title. See note to § 3082. § 3184. Notice where parties reside in same place. Where the person giving and the person to receive notice reside in the same place, notice must be given within the following 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 day following; (3) If sent by mail, it must be deposited in the post office in time to reach him in usual course on the day following. See note to § 3082. § 3185. Notice where parties reside in different places. Where the person giving and the person to receive notice 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 post office, 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. See note to § 3082. § 3186. Notice deemed given. 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. See note to § 3082. § 3187. Deposit in postoffice. Notice is deemed to have been deposited in postoffice when deposited in any branch postoffice or in any letter-box under the control of the post office department. See note to § 3082. § 3188. Notice to subsequent party. 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. See note to § 3082. § 3189. Where notice may be 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 post office nearest to his place of residence, or to the post office where he is accustomed to receive his letters; or (2) If he live 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 title, it will be sufficient, though not sent in accordance with the requirements of this section. See note to § 3082. § 3190. 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. See note to § 3082. § 3191. Who is affected by waiver. 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. See note to § 3082. § 3192. Waiver of protest. A waiver of protest, whether in the case of a foreign bill of exchange or other negotiable instrument, is deemed to be a waiver not only of formal protest, but also of presentment and notice of dishonor. See note to § 3082. § 3193. Notice dispensed with. Notice of dishonor is dispensed with when, after the exercise of reasonable diligence, it cannot be given to or does not reach the parties sought to be charged. See note to § 3082. § 3194. Delay 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. See note to § 3082. § 3195. When not required to be given to drawer. Notice of dishonor is not required to be given to the drawer in either of the following cases: (1) Where the drawer and drawee are the same person; (2) When the drawee is a fictitious person or a person not having capacity to contract; (3) When the drawer is a 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. See note to § 3082. § 3196. When not required to be given indorser. 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. See note to § 3082. §3197. Notice of nonpayment where acceptance refused. Where due notice of dishonor by nonacceptance has been given notice of a subsequent dishonor by nonpayment is not necessary, unless in the meantime the instrument has been accepted. See note to § 3082. $3198. Effect of omission. An omission to give notice of dishonor by nonacceptance does not prejudice the rights of a holder in due course subsequent to the omission. See note to § 3082. § 3199. Protest. Where any negotiable instrument has been dishonored it may be protested for nonacceptance or nonpayment, as the case may be; but protest is not required except in the case of foreign bills of exchange. See note to § 3082. § 3200. ARTICLE VIII. Discharge of Negotiable Instruments. § 3201. When persons secondarily liable on, discharged. § 3202. § 3203. Renunciation by holder. §3204. Cancellation; unintentional; burden of proof. § 3206. What constitutes a material alteration. § 3200. How 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; |
