Presentment, when excused.

Delay, when excused.

Presentment

and notice, when excused.

SEC. 3218. The presentment of a bill of exchange for acceptance is excused if the drawee has not capacity to accept it.

If the provision of Sec. 1783, requiring presentment to a Notary, is not adopted, this section must be modified by inserting, after "excused," "if the holder cannot, with reasonable diligence, find any person authorized to accept it, or."

N. Y. C. C., Sec. 1803.

NOTE.-See Secs. 3186 and 3131.

SEC. 3219. Delay in the presentment of a bill of exchange for acceptance is excused, when caused by circumstances over which the holder has no control.

N. Y. C. C., Sec. 1804.

SEC. 3220. Presentment of a bill of exchange for acceptance or payment, and notice of its dishonor, are excused as to the drawer, if he forbids the drawee to accept, or the acceptor to pay the bill; or if, at the time of drawing, he had no reason to believe that the drawee would accept or pay the same.

N. Y. C. C., Sec. 1805.

ARTICLE VIII.

FOREIGN BILLS.

Definitions.

SECTION 3224. Definitions.

3225. Protest necessary.

3226. Protest, by whom made.

3227. Protest, how made.

3228. Protest, where made.

3229. Protest, when to be made.

3230. Protest, when excused.

3231. Notice of protest, how given.

3232. Waiver of protest.

3233. Declaration before payment for honor.

3234. Damages allowed on dishonor of foreign bill.

3235. Rate of damages.

3236. Interest on amount of protested bill.

3237. Damages, how estimated.

3238. Same.

SEC. 3224. An inland bill of exchange is one drawn and payable within this State. All others are foreign.

It has been strongly urged upon the Commissioners, by gentlemen whose experience entitles their opinion to great weight, that all bills drawn and payable within the United States should be deemed inland bills. The adoption of this suggestion would, however, involve so great a change that

SEC. 3225.

it is considered advisable to leave the text as it is, and sub

mit the question to the wisdom of the Legislature.

N. Y. C. C., Sec. 1806.

Notice of the dishonor of a foreign bill of Protest exchange can be given only by notice of its protest.

N. Y. C. C., Sec. 1807.

necessary.

whom made.

SEC. 3226. Protest must be made by a Notary Public, Protest, by if with reasonable diligence one can be obtained; and if not, then by any reputable person, in the presence of two witnesses.

N. Y. C. C., Sec. 1808.

how made.

SEC. 3227. Protest must be made by an instrument in Protest, writing, giving a literal copy of the bill of exchange, with all that is written thereon, or annexing the original; stating the presentment, and the manner in which it was made; the presence or absence of the drawee or acceptor, as the case may be; the refusal to accept or to pay, or the inability of the drawee to give a binding acceptance; and in case of refusal, the reason assigned, if any; and finally, protesting against all the parties to be charged.

SEC. 3228.

N. Y. C. C., Sec. 1809.

where made,

A protest for non-acceptance must be made Protest, in the city or town in which the bill is presented for acceptance; and a protest for non-payment in the city or town in which it is presented for payment.

N. Y. C. C., Sec. 1810.

when to be made.

SEC. 3229. A protest must be noted on the day of pre- Protest, sentment, or on the next business day; but it may be written out at any time thereafter.

N. Y. C. C., Sec. 1811.

when

excused.

SEC. 3230. The want of a protest of a foreign bill of Protest, exchange, or delay in making the same, is excused in like cases with the want or delay of presentment.

N. Y. C. C., Sec. 1812.

Notice of protest, how

SEC. 3231. Notice of protest must be given in the same manner as notice of dishonor, except that it may be given given. by the Notary who makes the protest.

N. Y. C. C., Sec. 1813.

Waiver of protest.

Declaration

before pay. ment for honor.

Damages allowed on dishonor of foreign bill.

Rate of damages.

Interest on

amount of protested bill.

SEC. 3232. If a foreign bill of exchange on its face waives protest, notice of dishonor may be given to any party thereto, in like manner as of an inland bill; except that if any indorser of such a bill expressly requires protest to be made, by a direction written on the bill at or before his indorsement, protest must be made, and notice thereof given to him and to all subsequent indorsers.

N. Y. C. C., Sec. 1814.

SEC. 3233. One who pays a foreign bill of exchange for honor must declare, before payment, in the presence of a person authorized to make protest, for whose honor he pays the same, in order to entitle him to reimburse

ment.

N. Y. C. C., Sec. 1815.

SEC. 3234. Damages are allowed as hereinafter prescribed, as a full compensation for interest, re-exchange, expenses, and all other damages, in favor of holders for value only, upon bills of exchan e drawn or negotiated within this State, and protested for non-acceptance or non-payment.

N. Y. C. C., Sec. 1816.

SEC. 3235. Damages are allowed under the last section upon bills drawn upon any person

1. If such bill is drawn upon any person in any of the United States east of the Rocky Mountains, fifteen dollars upon the hundred, upon the principal sum specified

in the bill.

2. If such bill is drawn upon any person in any port or place in Europe, or in any foreign country, twenty dollars upon the hundred, upon the principal sum specified in the bill.

SEC. 3236.

NOTE." Bills of Exchange," Sec. 12. (Hittell.) Subd. 1 needs to be reconstructed, specifying the States and Territories; a third added, fixing five per cent. damages in this State, and a fourth, fixing ten per cent. in Pacific States outside of California.

From the date of protest, lawful interest must be allowed upon the aggregate amount of the prin cipal sum specified in the bill, and the damages mentioned in the preceding section.

"Bills of Exchange," Sec. 13. (Hittell.)

how esti.

SEC. 3237. If the amount of a protested bill of ex- Damages, change is expressed in money of the United States, dam- mated. ages are estimated upon such amount without regard to the rate of exchange.

N. Y. C. C., Sec. 1818.

SEC. 3238. If the amount of a protested bill of ex- Same. change is expressed in foreign money, damages are estimated upon the value of a similar bill at the time of protest, in the place nearest to the place where the bill was negotiated, and where such bills are currently sold.

N. Y. C. C., Sec. 1819.

CHAPTER III.

PROMISSORY NOTES.

SECTION 3244. Promissory note, what.

3245. Certain instruments, promissory notes.

3246. Bill of exchange, when converted into a note.

3247. Certain sections applicable to notes.

3248. Effect of delay in presentment.

note, what.

SEC. 3244. A promissory note is an instrument, nego- Promissory tiable in form, whereby the signer promises to pay a specified sum of money.

N. Y. C. C., Sec. 1820.

instruments,

SEC. 3245. An instrument in the form of a bill of ex- Certain change, but drawn upon and accepted by the drawer promissory himself, is to be deemed a promissory note.

N. Y. C. C., Sec. 1821.

SEC. 3246. A bill of exchange, if accepted, with the consent of the owner, by a person other than the drawee, or an acceptor for honor, becomes in effect the promissory note of such person, and all prior parties thereto are exonerated.

SEC. 3247.

N. Y. C. C., Sec. 1822.

notes.

Chap. I of this Title, and Secs 3181 and Certain 3214 of this Code, apply to promissory notes.

sections applicable to notes.

N. Y. C. C., Sec. 1823.

Effect of

delay in presentment

SEC. 3248. If a promissory note, payable on demand, or at sight, without interest, is not duly presented for payment, within six months from its date, the indorsers thereof are exonerated, unless such presentment is excused.

N. Y. C. C., Sec. 1824.

CHAPTER IV.

Check, what,

Rules applicable to checks.

SECTION 3254. Check, what.

CHECKS.

3255. Rules applicable to checks.

SEC. 3254. A check is a bill of exchange drawn upon a bank or banker, or a person described as such upon the face thereof, and payable on demand, without inter

est.

N. Y. C. C., Sec. 1825.

SEC. 3255. A check is subject to all the provisions of this Code concerning bills of exchange, except that

1. The drawer and indorsers are exonerated by delay in presentment, only to the extent of the injury which they suffer thereby, and are exonerated to that extent by a delay of more than one day in presentment.

2. An indorsee, after its apparent maturity, but without actual notice of its dishonor, acquires a title equal to that of an indorsee before such period.

N. Y. C. C., Sec. 1826.

Bank note negotiable

after payment.

CHAPTER V.

BONDS, BANK NOTES AND CERTIFICATES OF DEPOSIT.

SECTION 3361. Bank note negotiable after payment.

3362. Title acquired by indorsec.

SEC. 3261. A bank note remains negotiable, even after it has been paid by the maker.

N. Y. C. C., Sec. 1827.