Page:United States Statutes at Large Volume 76A.djvu/354

–258– -258(2) the fact that presentment Avas made and the manner thereof; (3) the cause or reason for protesting the bill; (4) the demand made and the answer given, if any, or the fact that the drawee or acceptor could not be found. § 4513. Persons who may make protest Protest may be made by: (1) a notary public; or (2) any respectable resident of the place where the bill is dishonored, in the presence of two or more credible witnesses. § 4514. Time for making When a bill is protested, the protest must be made on the day of its dishonor, unless delay is excused as herein provided. When a bill has been duly noted, the protest may be subsequently extended as of the date of the noting. § 4515. Place where made A bill must be protested at the place where it is dishonored, except that when a bill drawn payable at the place of business, or residence of some person other than the drawee, has been dishonored by nonacceptance, it must be protested for nonpayment at the place where it is expressed to be payable, and no further presentment for payment to, or demand on, the drawee is necessary. § 4516. Protest both for nonacceptance and nonpayment A bill which has been protested for nonacceptance may be subsequently protested for nonpayment. § 4517. Protest before maturity; better security Where the acceptor has been adjudged a bankrupt or an insolvent, or has made an assignment for the benefit of creditors, before the bill matures, the holder may cause the bill to be protested for better security against the drawer and indorsers. § 4518. Dispensing with protest Protest is dispensed with by any circumstances which would dispense with notice of dishonor. Delay in noting or protesting is excused when delay is caused by circumstances beyond the control of the holder and not imputable to his default, misconduct or negligence. When the cause of delav ceases to operate, the bill must be noted or protested with reasonable diligence. § 4519. Lost, destroyed, or wrongly detained bill When a bill is lost or destroyed or is wrongly detained from the person entitled to hold it, protest may be made on a copy or written particulars thereof. Article E—Acceptance for Honor § 4521. Circumstances authorizing acceptance for honor Where a bill of exchange has been protested for dishonor by nonacceptance or protested for better security, and is not overdue, any person not being a party already liable thereon may, with the consent of the holder, mtervene and accept the bill supra protest for the honor of any party liable thereon, or for the honor or the person for whose account the bill is drawn. The acceptance for honor may be for the part only of the sum for which the oill is drawn; and where there has been an acceptance for honor for one party, there may be a further acceptance by a different person for the honor of another party.

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