Page:United States Statutes at Large Volume 31.djvu/1457

 F IFTY-SIXTH CONGRESS. Sess. ll. Ch. 854. 1901. 1405 February, known as Washington’s Birthday; the Fourth of July; the thirtieth day of May, commonly called Decoration Day; the first Monday in September, known as Labor’s Holiday; the twenty-fifth day of December, commonly called Christmas Day; every Saturday, after twelve o’clock noon; any day appointed or recommended by the President of the United States as a day of public fasting or thanksgiving, and the day of the inauguration of the President, in every fourth year, shall be holidays in the District within the meanin of this section. Whenever any day set apart as a legal holiday shafl fall on Sun- —f¤11i¤g <>¤ S¤¤d¤y- day, then and in such case the next succeeding day shall be a holiday; and in such cases and in all cases in whicha Sunday and a holiday shall fall on successive days all commercial paper falling due on any of said days shall, for all purposes of presenting for payment or acceptance, be deemed to mature and be resentable for payment or acceptance on the next secular or business gay succeeding. Sec. 1390. Where the instrument is payable at a fixed period after pu'{§{,*e· h°“’ e°m· 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. Sec. 1391. Where the instrument is made payable at a bank it is p,;lg‘,$;°atiQ§;§'§,§e“* equivalent to an order to the bank to pay the same for the account of ` the principal debtor thereon. Sec. 1392. Payment is made in due course when it is made at or after “§§gQ’Q,$)§]gg$g§“eethe maturity of the instrument to the holder thereof in good faith and ` without notice that his title is defective. Sec. 1393. Noricn or D1sHoNoR.—Except as herein otherwise pro- §<>¤g¤ of ei¤h<>¤<>r· vided, when a negotiable instrument has been dishonored by nonac- _°w Om gw°n' ceptance or nonpay ment, notice of dishonor must be given to the drawer and to each indorser, and any drawer or indorser to whom such notice is not given is discharged. Sec. 139-l. The notice may be given by or on behalf of the holder, —bY"’h°“‘· or by or on behalf of any party to the instrument who might be compelled to pay it to the holder, and who, upon taking it up, would have a right to reimbursement from the party to whom the notice is given. Sec. 1395. Notice of dishonor inay be given by an agent, either in -g“'e° by an eeeee his own name or in the name of any party entitled to give notice, whether that party be his principal or not. Sec. 1396. Fon wrrosn BENEFIT.—lVl`lBl`G notice is given by or on g,¤§];$,’}dg§ behelf ei 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 iven. Sec. 139% Where notice is given by or on behalf of aparty entitled Qqgiegtgv Party e¤· to give notice it inures for the benefit of the holder and all parties sub-` sequent to the party to whom notice is given. Sec. 1398. \Vhere the instrument has been dishonored in the hands t,c¤;ge¤°meY give ¤<> 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. Sec. 1399. Form or xor1cn.—A written notice need not be signed, ciglgeu uedee elm and an insufhcient 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. Sec. 1—l00. The notice may be in writing or merely oral, and may be F¤¤¤ <>f¤<>¤eegiven 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.