Page:United States Statutes at Large Volume 30.djvu/839

 FIFTY-FIFTH CONGRESS. Sess. III. Orr. 47. 1899. 801 Sec. 166. That where a bill payable after sight is accepted for honor b}§¤*f¤}g*5;*§1l;*l*P¤v· its maturity is calculated from the date of the noting for nonacceptance, a 8 B g ` and not from the date of the acceptance for honor. Sec. 167. That where a dishonored bill has been accepted for honor MWL supra protest or contains a reference in case of need it must be protested for nonpayment before it is presented for payment to the 6 acceptor for honor or referee in case of need. , SEc. 168. That presentment for payment to the acceptor for honor Pr¤¤¤¤¤¤¤¤¤¤f¤r1>•y- must be°made as follows: '§:,'§LT,;§°°°’*°" First. If it is to be presented in the place where the protest for nonpayment was made it must be presented not later than the day following its maturity. Second. If it is to be presented in some other place than the place where it was protested, then it must be forwarded within the time specified in section one hundred and four. - SEO. 169. That the provisions of section eighty-one apply where there when delay in preis delay in making presentment to the acceptor for honor or referee in jf,'j§_“1j“.},,L°"°}* '°d- 0880 of need. S1:0. 170. That when the bill is dishonored by the acceptor for honor Dishcnmu bm by it must be protested for nonpayment by him. - “°°°""'f°’ "°"°"· ARTICLE VI. PAYMENT FOB. HONOR. P¤·y¤¤¤* f¤r Murr- Sec. 171. That where a bill has been protested for nonpayment any —w¤¤ my make- · person may intervene and pay it supra protest for the honor of any person liable thereon, or for the honor of the person for whose account it was drawn. · SEO. 172. That the payment for honor supra protest in order to oper- —¤¤v¤¤•·i¤· ate as such and not as a mere voluntary payment must be attested by a notarial act of honor which may be appended to the protest or form an extension to it. Sm. 173. That the notarial act of honor must be founded on a dec- Declaration of pqlaration made by the payer for honor, or by his agent in that behalf; "‘“"" "" "°“°'· declaring his intention to pay the bill for honor and for whose honor he pays. Sec. 174. That where two or more perspns offer to pay a bill for the Prermncmpmaes honor of different parties the person whose payment will discharge °“°"”g‘° P“’· most parties to the bill is to be given the preference. Sec. 175. That where a bill has been paid for honor all parties sub- Effect ¤¤ ¤ abseseqnent to the party for whose honor it is paid are discharged, but the {‘,§f‘;,§,,f‘}§§*§f,¤§§{‘°’° payer for honor is subrogated for, and succeeds to, both the rights and duties of the holder as regards the party for whose honor he pays and all parties liable to the latter. Sec. 176. That where the holder of a bill rethses to receive payment m¥;·¤{_g Nlzmzr y supra protest he loses his right of recourse against any party who would mm supra pmeed. y` have been discharged by such payment. . Sec. 1 77. That the payer for honor, on paying to the holder the amount huljfghw °' P*¥°* M of the bill and the notarial expenses incidental to its dishonor, is enti- ` tlecl to receive both the bill itself and the protest. ARTICLE vu. 1m.1..s m A snr. B¤¤¤i¤ ·¤¢¤- smc. 178. That where a bill is drawn in a set, each part of the set —¤·»¤¤¤¢¤¢¤• ¤¤¤1>i¤1. being numbered and containing a reference to the other parts, the whole °t°' of the parts constitute one bill. Sec. 179. That where two or more parts of a set are negotiated to w,f§§:¤fgKjrQ¤Q°l}jjt*: different holders in due course, the holder whose title first accrues is are mgemm. as between such holders the true owner of the bill. But nothing in ‘ _ this section atlects the rights of a person who in due course accepts or pays the part first presented to him. suc. 180. That where the holder of a set indorses two or more parts. ‘{·i¤¤z¤*¤>;;{ ¥··>¤·# to different persons he is liable on every such part, and every indorser ;£€§° {:$i1xe¤°:.:°;»:T subsequent to him is liable on the part he has himself indorsed, as if *°¤°· such parts were separate bills. vox. xxx-.31