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Repeated bu chapt 83 1899.

or, fourth, when the notice is waived by the party entitled thereto. [C. L. § 2892.

Cal. Civ. C. 3155.

When presentment of bill of exchange is excused, ?? 1640–1642.

1605. Presentment and notice, when excused.

Presentment and

notice are excused as to any party to a negotiable instrument, who informs the holder, within ten days before its maturity, that it will be dishonored. [C. L. § 2893.

Cal. Civ. C. 3156.

1606. Id. If before or after the maturity of an instrument an indorser has received full security for the amount thereof, or the maker has assigned all his estate to him as such security, presentment and notice to him are excused. [C. L. § 2894.

Cal. Civ. C. 3157.

1607. Delay, when excused. Delay in presentment, or in giving notice of dishonor, is excused when caused by circumstances which the party delaying could not have avoided by the exercise of reasonable care and diligence. [C. L. § 2895.

Cal. Civ. C. 3158.

The question of the reasonableness of delay in presenting a promissory note for payment is a question of law for the court. Mere delay in pre

senting a note indorsed when overdue does not exonerate any party thereto by laws of Utah, 1882, section 87. Durnell v. Sowden, 5 U. 216; 14 P. 334.

1608. Waiver of presentment and notice. A waiver of presentment waives notice of dishonor also, unless the contrary is expressly stipulated; but a waiver of notice does not waive presentment. [C. L. § 2896.

Cal. Civ. C. 3159.

1609. Waiver of protest, effect of. A waiver of protest on any negotiable instrument other than a foreign bill of exchange waives presentment and notice. [C. L. § 2897.

Cal. Civ. C. ? 3160.

CHAPTER 7.

EXTINCTION AND DAYS OF GRACE.

1610. Obligation of party, how extinguished. The obligation of a party to a negotiable instrument is extinguished: first, in like manner with that of parties to contracts in general; or, second, by payment of the amount due upon the instrument at or after its maturity, in good faith and in the ordinary course of business to any person having actual possession thereof and entitled by its terms to payment. [C. L. § 2898.

Cal. Civ. C. 3164.

§ 2906*.

1611. No days of grace. Days of grace are not allowed. [C. L. Cal. Civ. C. 2 3181.

CHAPTER 8.

BILLS OF EXCHANGE.

1612. Defined. A bill of exchange is an instrument negotiable in form, by which one, who is called the drawer, requests another, called the drawee, to pay a specified sum of money. [C. L. § 2899.

Cal. Civ. C. 3171.

Bill becomes a promissory note, when, ?? 1659-1660. Negotiable instruments generally, ?? 1553-1611.

1613. Drawee in case of need. A bill of exchange may give the name of any person in addition to the drawee, to be resorted to in case of need. $2900.

Cal. Civ. C. 3172.

[C. L.

1614. Drawn in parts. A bill of exchange may be drawn in any number of parts, each part stating the existence of the others, and all forming one set. [C. L. § 2901.

Cal. Civ. C. 3173.

1615. Id. An agreement to draw a bill of exchange binds the drawer to execute it in three parts, if the other party to the agreement desires it. [C. L. $2902.

Cal. Civ. C. 3174.

1616. Id. Presentment, etc., of one sufficient.

Presentment, accept

ance, or payment of a single part in a set of a bill of exchange is sufficient for the whole. [C. L. § 2903.

Cal. Civ. C. 3175.

1617. Where payable. A bill of exchange is payable: first, at the place where by its terms it is made payable; or, second, if it specifies no place of payment, then at the place to which it is addressed; or, third, if it is not addressed to any place, then at the place of residence or business of the drawee, or wherever he may be found. If the drawee has no place of business, or if his place of business or residence cannot with reasonable diligence be ascertained, presentment for payment is excused, and the bill may be protested for non-payment. § 2904.

Cal. Civ. C. 23176.

[C. L.

1618. Rights and obligations of drawer. The rights and obligations of the drawer of a bill of exchange are the same as those of the first indorser of any other negotiable instrument. [C. L. § 2905.

Cal. Civ. C. ¿ 3177.

1619. Presentment for acceptance, when made. At any time before a bill of exchange is payable, the holder may present it to the drawee for acceptance, and if acceptance is refused the bill is dishonored. [C. L. § 2907.

Cal. Civ. C. 3185.

1620. Id. How made. Presentment for acceptance must be made in the following manner, as nearly as by reasonable diligence it is practicable: 1. The bill must be presented by the holder or his agent.

2. It must be presented on a business day and within reasonable hours. 3. It must be presented to the drawee; or, if he is absent from his place of residence or business, to some person having charge thereof or employed therein; and,

4. The drawee on such presentment may postpone his acceptance or refusal until the next business day. If the drawee has no place of business, or, if his place of business or residence cannot with reasonable diligence be ascertained, presentment for acceptance is excused and the bill may be protested for nonacceptance. [C. L. § 2908.

Cal. Civ. C. 3186.

1621. Refusal by one of several drawees. Presentment for acceptance to one of the several joint drawees and refusal by him, dispenses with presentment to the others. [C. L. § 2909.

Cal. Civ. C. 3 3187.

1622. Id. Drawee in case of need. A bill of exchange which specifies a drawee in case of need must be presented to him for acceptance or payment, as the case may be, before it can be treated as dishonored. [C. L. § 2910.

Cal. Civ. C. 3188.

Repealed

see chapt 831899

Ripialed See chapt 83. 7899

1623. Id. Bill payable specified time after sight. When a bill of exchange is payable at a specified time after sight, the drawer and indorsers are exonerated if it is not presented for acceptance within ten days after the time which would suffice, with ordinary diligence, to forward it for acceptance, unless presentment is excused. [C. L. $2911.

Cal. Civ. C. 3189.

ACCEPTANCE.

1624. How made. An acceptance of a bill must be made in writing by the drawee, or by an acceptor for honor, and may be made by the acceptor writing his name across the face of the bill, with or without other words. [C. L. § 2912.

Cal. Civ. C. 3193.

1625. Acceptance must be unqualified. The holder of a bill of exchange, if entitled to an acceptance thereof, may treat the bill as dishonored if the drawee refuses to write across its face an unqualified acceptance. [C. L. § 2913.

Cal. Civ. C. 3194.

Dishonor of negotiable instruments generally, ?? 1593-1603.

1626. Sufficient acceptance. The holder of a bill of exchange may, without prejudice to his rights against prior parties, receive and treat as a sufficient acceptance:

1.

2.

An acceptance written on any part of the bill, or upon a separate paper. An acceptance qualified so far only as to make the bill payable at a particular place within the city or town in which, if the acceptance were unqualified, it would be payable; or,

3. A refusal by the drawee to return the bill to the holder after presentment, in which case the bill is payable immediately without regard to its terms. [C. L. § 2914.

Cal. Civ. C. 2 3195.

1627. Acceptance by separate instrument. The acceptance of a bill of exchange, by a separate instrument, binds the acceptor to one, who, upon the faith thereof, has the bill for value or other good consideration. [C. L. § 2915.

Cal. Civ. C. 3196.

1628. Unconditional promise to accept. An unconditional promise. in writing, to accept a bill of exchange, is a sufficient acceptance thereof, in favor of every person who, upon the faith thereof, has taken the bill for value or other good consideration. [C. L. § 2916.

Cal. Civ. C. 3197.

1629. Cancellation of acceptance. The acceptor of a bill of exchange may cancel his acceptance at any time before delivering the bill to the holder, and before the holder has, with the consent of the acceptor, transferred his title to another person, who has given value for it upon the faith of such acceptance. [C. L. § 2917.

Cal. Civ. C. 23198.

1630. Acceptance admits what. The acceptance of a bill of exchange admits the signature of the drawer, but does not admit the signature of any indorser to be genuine. [C. L. § 2918.

Cal. Civ. C. 23199.

ACCEPTANCE OR PAYMENT FOR HONOR.

1631. When. On the dishonor of a bill of exchange by the drawee, and in case of a foreign bill, after it has been duly protested, it may be accepted or paid by any person, for the honor of any party thereto. [C. L. § 2919.

Cal. Civ. C. 3203.

1632. Holder must accept payment for honor. The holder of a bill of exchange, is not bound to allow it to be accepted for honor, but is bound to accept payment for honor. [C. L. § 2920.

Cal. Civ. C. 3204.

1633. Acceptance for honor, how made. Reimbursement. An acceptor or payer for honor must write a memorandum upon the bill, stating therein for whose honor he accepts or pays, and must give notice to such parties with reasonable diligence, of the fact of such acceptance or payment. Having done so he is entitled to reimbursement from such parties and from all parties prior to them. [C. L. § 2921.

Cal. Civ. C. 3205.

1634. Id. Presentment. Notice of dishonor. A bill of exchange which has been accepted for honor, must be presented at its maturity to the drawee for payment, and notice of its dishonor by him must be given to the acceptor for honor, in like manner as to an indorser; after which the acceptor for honor must pay the bill. [C. L. §2922.

Cal. Civ. C. 3206.

1635. Acceptance for honor does not excuse notice. The acceptance of a bill of exchange for honor does not excuse the holder from giving notice of its dishonor by the drawee. [C. L. § 2923.

Cal. Civ. C3207.

PRESENTMENT FOR PAYMENT.

1636. Presentment, when bill not accepted. If a bill of exchange is, by its terms, payable at a particular place, and is not accepted on presentment, it must be presented at the same place for payment, when presentment for payment is necessary. [C. L. § 2924.

Cal. Civ. C. 3211.

Presentment of negotiable instruments generally, ?? 1585-1592.

1637. Id. When accepted. A bill of exchange accepted payable at a particular place, must be presented at that place for payment when presentment for payment is necessary, and need not be presented elsewhere. [C. L. § 2925.

Cal. Civ. C. 3212.

1638. Delay in presenting bill not bearing interest. If a bill of exchange, payable at sight or on demand, without interest, is not duly presented for payment within ten days after the time in which it could, with reasonable diligence, be transmitted to the proper place for such presentment, the drawer and indorsers are exonerated, unless such presentment is excused. [C. L. § 2926.

Cal. Civ. C. 3213.

1639. Id. Bearing interest. Mere delay in presenting a bill of exchange, payable with interest, at sight or on demand, does not exonerate any party thereto. [C. L. § 2927.

Cal. Civ. C. 3214.

EXCUSE OF PRESENTMENT AND NOTICE.

1640. Incapacity to accept. The presentment of a bill of exchange for acceptance is excused, if the drawee has not capacity to accept it. [C. L. $2928.

Cal. Civ. C. 3218.

When presentment of negotiable instruments generally is excused, ?? 1604-1609.

1641. Uncontrollable cause. Delay in the presentment of a bill of exchange for acceptance is excused, when caused by circumstances over which the holder has no control. [C. L. § 2929.

Cal. Civ. C. 3219.

1642. Acts of drawer. Presentment of a bill of exchange for acceptance

be chapt 83.1899

Repealed

تھ

apt 83. 1899

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. [C. L. $2930.

Cal. Civ. C. 3220.

FOREIGN BILLS.

1643. Inland and foreign bills defined. An inland bill of exchange is one drawn and payable within this state; all others are foreign.

Cal. Civ. C. 3224.

1644. Dishonor of foreign bill. Protest. Notice of foreign bill of exchange can be given only by notice of its protest.

Cal. Civ. C. 3225.

[C. L. § 2931.

dishonor of a [C. L. § 2932.

1645. Protest, by whom made. Protest must be made by a notary public, if with reasonable diligence one can be obtained; and if not, then by any reputable person in the presence of two witnesses. [C. L. § 2933. ·

Cal. Civ. C. 3226.

1646. Form of protest. Protest must be made by an instrument in writing, giving a literal copy of the bill of exchange, with all that is written thereon, or annexing the original; stating the presentment and 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. [C. L. § 2934.

Cal. Civ. C. 23227.

1647. Protest, where made. A protest for non-acceptance must be made 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. [C. L. § 2935.

Cal. Civ. C. 3228.

1648. Protest, when made. A protest must be noted on the day of presentment, or on the next business day; but it may be written out at any time thereafter. [C. L. § 2936.

Cal. Civ. C. 3229.

1649. Protest, when excused. The want of a protest of a foreign bill of exchange, or delay in making the same, is excused in like cases with the want or delay of presentment. [C. L. § 2937.

Cal. Civ. C. 3230.

1650. Notice of protest. Notice of protest must be given in the same manner as notice of dishonor, except that it may be given by the notary who makes the protest. [C. L. § 2938.

Cal. Civ. C. 3231.

1651. Waiver of protest. 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. [C. L. § 2939.

Cal. Civ. C. 3232.

1652. Declaration before payment for honor. Reimbursement. 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 reimbursement. [C. L. § 2940.

Cal. Civ. C. 3233.

1653. Damages in case of protest. Damages are allowed as herein

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