PARTIES, delivery as between immediate and remote, 121-2 capacity and authority of, 124 who may be parties to a bill, 124 holder for value as against prior, 179 holder in due course free from defects of, 235 liabilities of, 310 PARTNERS, bill may be addressed to, 59 acceptance of bill by one, 99 signature of firm equivalent to that of all, 138, 142 bill by one in fraud of others, 142-5, 198 PAYMENT, when no time for, is expressed, 80 time of, how determined, 90, 93 by acceptor, when conditional, 109 holder entitled to, although drawer or indorser without capacity, 136 against conditional indorsement valid, 217 restrictive indorsee may receive, 224 discharge by, stops negotiability of bill, 225 holder may enforce, 232 to holder with defective title valid, 239 bill must be duly presented for, 254 rules as to presentment for, 255-263 when delay is excused in presenting for, 263-8 refusal of, is dishonor of bill, 268 dishonor for want of, gives immediate recourse, 26 of bill by drawer or indorser gives right to damages, 324 further damages bear interest until, 326-7 in due course by drawee or acceptor discharges bill, 332 Daniel's definition of, 332 in good faith, 333 by bill or note, 333 may be absolute, 333 is only conditional without agreement,333 part payment is equity attaching to bill, 338 PAYMENT-Continued. compensation in Quebec operates as, 339 defect of title, 339 prescription or Statute of Limitations as, 341 by drawer, right against acceptor, 349 by indorser, right against antecedent parties, 349-50 for honor supra protest, 371 only after protest, 371 discharges subsequent parties, 373 effect of refusal to accept, 373-4 of one part of set discharges whole, 378 unless more than one part accepted, 378 contract when governed by law of place of, 384 presentment of cheque for, 401 reasonable time for presenting cheque for, 402 presentment of note at place named, 427, 430 indorser liable only after presentment for, 429 PENALTY, banks not liable to, for usury, 75 for omitting "given for a patent right," 204 PENCIL, writing may be in, 36 signature may be in, 39 PERSON, defined, 30, 39 fictitious, 39, 56, 63, 66, 249. 266 PERSONAL DEFENCES, holder in due course free from, 235 PERSONAL LIABILITY, when party not subject to, 159 of officers of corporations, 99, 159-164 difference between bills and notes, 160, 431 of executors, administrators, tutors, etc., 164-6 PERSONAL REPRESENTATIVE, on death of holder bill passes to, 209 acceptor, 262 should give notice of dishonor, 275 notice to, of dead drawer or indorser, 280-2 PLACE, bill valid without stating where drawn, 51 of payment not named, payable generally, 52 may be payable where drawn, 52 not qualified acceptance to pay at specified, 109 of payment sufficient without "not elsewhere," 110 of business, bill not payable at, 241-2 of presentment for acceptance, 248 bill presented at the proper, 258 of payment named in bill or acceptance, 258 of payment not specified, 260, 262, 263 of business, presentment at last known, 260 of protest, 302 of payment not named, when acceptor liable, 306 named, liability of acceptor, 307 alteration of, material, 363, 364 adding to bill, material alteration, 363 law of, 384, 392 law of, governs due date, 390 note must be presented at, 427 named in note, when indorser liable, 430 PLEDGE, holder of bill as, 180-See Lien of collateral security, note may contain, 420 delivery is transfer of, 27 actual and constructive, 27 holder is payee or indorsee in, 27-8 delivery is presumed from transfer of, 121-2 person may hold bill as an escrow, 122 gives right to sue, 232 adversely to real owner, 235 POST-DATED instruments valid, 88, 396 not an irregularity, 396 POST OFFICE, when presentment made through, 248, 262 notice of dishonor deposited in, 285 sender not liable for mis-carriage by, 289-90 letter in, belongs to party addressed, 290 POTHIER, Contrat de Change cited for old French law, iv. based on Commercial Ordinance, 7 See Ancient French Law PREMATURE presentment for payment a nullity, 256 payment before maturity not a discharge, 332 PRESCRIPTION, see Statute of Limitations interruption of, by written acknowledgment, 341 how reckoned in case of conflict, 342 English Statute in Canada, 342 in Ontario, Nova Scotia and New Brunswick, 342 when statute begins to run, 343 Chalmers' five rules for England, 343-4 of notarial note en brevet, 346 governed by lex fori, 346, 393 PRESENTATION, payable on, is payable on demand, 80, 81 protest prima facie evidence of, 444 costs of action before, discretionary, 307, 427 PRESENTMENT FOR ACCEPTANCE, when dated as of first presentment, 107 when necessary to fix maturity, 240 to whom should be made, 241 place of, 241 provisions as to, not applicable to notes, 432 PRESENTMENT FOR PAYMENT, must be duly made, 254 not necessary as against acceptor, 255 rules as to, 255 time for, when bill not payable on demand, 255-6 payable on demand, 255-6 made by holder or by his authority, 257 at the proper place, 257 to payer or his representative, 257 hour may depend on place, 257-8 at place specified in bill or acceptance, 258 when at place of business of drawee or acceptor, 260 at proper place, when sufficient, 261 to all drawees or acceptors not partners, 262 to representative of dead drawee or acceptor, 262 when through post office, 262 when at post office, 263 when delay in, excused, 263-4 should be made, when cause ceases, 264 dispensed with when impossible, 265 when drawee is fictitious, 266 as regards the drawer, 266 an indorser, 267 by waiver express or implied, 267 and refusal, dishonors bill, 268 acceptor liable without, if no place named, 306 |