Page:United States Statutes at Large Volume 47 Part 1.djvu/1212

 1188 Written receipts. Extinction of pecum- arr obligation. Post, p. 1229. Ante, p. 1187. Effect of offer on ac- cessories of obligations. Cre dit or' s ret ent ion of thing which be re- fuses to acc ept. Post, p. 1229. Pre vent ion of pe r- formance or offer. 72d C ONGRESS. SESS. II. CH. 128. FEBRUARY 27, 1933 . SEC. 467 . WRrrn'N RECEIPTS .-A debtor has a right to require from his creditor a writte n receipt for any pr operty delivered in perform- ance of his obligation. SEC. 468. EXTINCTION OF PECUNIARY OBLIGATION.-An obligation for the payment of money is extinguished by a due offer of payment, if the amount is immediately deposited in the name of the creditor, with some bank of deposit within the Canal Zone, of good repute, and notice thereof is given to the creditor. Cross REVERENCE Tender stoppi ng int erest, see sec tion 4 72. Objection to mode of SEC. 469 . OBJECTIONS TO MODE of or F r.R .--All objections to the offer' mode of an offer of performance, which the creditor has an oppor- tunity to state at th e time to the person making the offer, a nd which could be then obviated by him, are waived by the creditor, if not then stated. Titletothingoffered. SEC. 470 . TITLE TO THING OFFERED.-The title t0 a thing duly offered in performance of an obligation passes to the creditor, if the debtor at the time signifies his intention to that effect. Cust ody of. SEC. 471. CUST ODY OF THING OFFERED .-The person offering a thing, other than money, by way of performance, must, if he means to treat it as belonging to the creditor, retain it as a depositary for hire, until the creditor accepts it, or until he has given reasonable notice to the creditor that he will retain it. no longer, and, if with reason- able diligence he can find a suitable depositary therefor, until he has deposited it with such person. Cro ss RF NCES Depositary for hire, see section 725. Thing offered to be kept separate, see section 465. SEC. 472. EFFECT OF OFFER ON ACCESSORIES OF OBLIGATION,-An offer of payment or other performance, duly made, though the title to the thing offered be not transferred to the creditor, stops the running of interest on the obligation, and has the same effect upon all its incidents as a performance thereof. Caoss REFESENOE Tender transfers title, see section 470. SEC. 473. CREDITORS RETENTION OF THING WHICH HE R EFUSES TO AC C E P T. - If anything is given to a creditor by way of performance, which he refuses to accept as such, he is not bound to return it wit hou t demand ; but if he retains it, he is a gratuitous depositary ther eof. Cross REFErmNCE Gratuitous depositary, see sections 720 et seq. PREVENTION OF PERFORMANCE OR OFFER What excuses formance etc Pe r- SEC. 474. WH AT EX CUS ES PERFORMANCE, ETC .-The want of per- , . formance of an obligation, or of an offer of performance, in whole or in part, or any delay therein, is excused by the following causes, to the extent to which they operate 1 . When such performance or offer is prevented or delayed by the act of the creditor, or by the operation of law, even though there may have been a stipu lation that this sha ll not be an excuse