where it is made notwithstanding it is to be performed elsewhere. Scott v. Pilkington, 15 Abb. Pr. 280. (b) 1 Rev. Stat. N. Y. 768, section 8; Brown v. Ambler, 66 Md. 391. But the holder must acquire the bill on the faith of the promise to accept. Howland v. Carson, 15 Pa. St. 453. § 224. Time allowed drawee to accept.-The drawee is allowed twenty-four hours after presentment in which to decide whether or not he will accept the bill (a); but the acceptance if given dates as of the day of presentation (b). (a) See Byles on Bills, 182; Daniel on Neg. Inst., section 492. By the former statute of Massachusetts, the drawee had until two o'clock on the day following. (Public Statutes, 1882, Ch. 77, section 17.) (b) There does not appear to be any direct authority on this point; the rule of the statute conforms to what is the common practice. See also statute of Massachusetts above referred to. § 225. Liability of drawee retaining or destroying bill. Where a drawee to whom a bill is delivered for acceptance destroys the same, or refuses within twenty-four hours after such delivery, or within such other period as the holder may allow, to return the bill accepted or non-accepted to the holder, he will be deemed to have accepted the same (a). (a) 1 Rev. Stat. N. Y. 769, section 11. The refusal referred to in the statute is an affirmative act, or such conduct as amounts to an affirmative act; and mere retention of the bill, without a demand for a return, or a dissent to the retention, and with the permission of the owner is not an acceptance. Matteson v. Moulton, 79 N. Y. 627. In the Wisconsin Act the following words are added: "Mere retention of the bill is not acceptance." But in view of the language of the rest of the section they seem to be wholly unnecessary. § 226. Acceptance of incomplete bill.-A bill may be accepted before it has been signed by the drawer, or while otherwise incomplete, or when it is overdue, or after it has been dishonored by a previous refusal to accept, or by nonpayment. But when a bill payable after sight is dishonored by non-acceptance and the drawee subsequently accepts it, the holder, in the absence of any different agreement, is entitled to have the bill accepted as of the date of the first presentment. § 227. Kinds of acceptances.-An acceptance is either general or qualified. A general acceptance assents without qualification to the order of the drawer. A qualified acceptance in express terms varies the effect of the bill as drawn (a). (a) Where a bill is addressed to the drawee in one place, and is accepted payable in another, this is a material variation. Walker v. Bank of State of N. Y., 13 Barb. 636; Niagara Bank v. Fairman Co., 31 Barb. 403. But a bill addressed generally to a drawee in a city may be accepted payable at a particular bank in that city. Troy City Bank v. Lanman, 19 N. Y. 477; Meyers v. Standart, 11 Ohio St. 29. § 228. What constitutes a general acceptancy.-An acceptance to pay at a particular place is a general acceptance unless it expressly states that the bill is to be paid there only and not elsewhere (a). (a) Before the enactment of the 1 and 2 George IV., c. 78, it was a point much disputed whether, if a bill payable generally was accepted payable at a particular place, such an acceptance was a qualified one. Byles on Bills, 194. The House of Lords finally held that an acceptance payable at a particular place was a qualified acceptance, rendering it necessary, in an action against the acceptor, to aver and prove presentment at such place. Rome v. Young, 2 Brod. & Bing. 165; 2 Bligh, 391. This led to the passage of the statute above mentioned, called Sergeant Onslow's act, which provided that an acceptance payable at a particular place should be deemed a general acceptance unless expressed to be payable there "only and not otherwise or elsewhere." In the United States the weight of authority has been contrary to the decision of the House of Lords, and in favor of the rule as stated in this section. Wallace v. McConnell, 13 Peters, 136. See also note to section 130. § 229. Qualified acceptance.-An acceptance is qualified which is: 1. Conditional, that is to say, which makes payment by the acceptor dependent on the fulfillment of a condition therein stated (a); 2. Partial, that is to say, an acceptance to pay part only of the amount for which the bill is drawn; 3. Local, that is to say, an acceptance to pay only at a particular place; 4. Qualified as to time; 5. The acceptance of some one or more of the drawees, but not of all. (a) Such an acceptance does not become due until the happening of the contingency upon which the bill is accepted. Brockway v. Allen, 17 Wend. 40; Newhall v. Clark, 3 Cush. 376; Myrick v. Merritt, 22 Fla. 335; Marshall v. Burnby, 25 Fla. 619. § 230. Rights of parties as to qualified acceptance.The holder may refuse to take a qualified acceptance, and if he does not obtain an unqualified acceptance, he may treat the bill as dishonored by non-acceptance (a). Where a qualified acceptance is taken, the drawer and indorsers are discharged from liability on the bill, unless they have expressly or impliedly authorized the holder to take a qualified acceptance, or subsequently assent thereto. When the drawer or an indorser receives notice of a qualified acceptance, he must within a reasonable time express his dissent to the holder, or he will be deemed to have assented thereto. (a) Cline v. Miller, 8 Md. 274. But if he receive such an acceptance he can claim payment only according to the condition or qualification. (Id.) An agent for collection, as, for example, a bank, has no authority to receive anything short of an explicit and un qualified acceptance. Walker v. New York State Bank 9 N. Y. 582. ARTICLE XII.* PRESENTMENT OF BILLS OF EXCHANGE FOR ACCEPTANCE. Section 240. When presentment for acceptance must be made. 241. When failure to present releases drawer and indorser. 242. Presentment; how made. 243. On what days presentment may be made. 246. When dishonored by non-acceptance. § 240. When presentment for acceptance must be made.-Presentment for acceptance must be made: 1. Where the bill is payable after sight or in any other case where presentment for acceptance is necessary in order to fix the maturity of the instrument (a); or 2. Where the bill expressly stipulates that it shall be presented for acceptance; or 3. Where the bill is drawn payable elsewhere than at the residence or place of business of the drawee. In no other case is presentment for acceptance necessary in order to render any party to the bill liable. (a) Although when a bill is made payable at a day certain, as *The numbers of the sections of this article in other States than New York are as follows: Colorado, Connecticut, District of Columbia, Florida, Massachusetts, North Carolina, North Dakota, Pennsylvania, Oregon, Tennessee, Utah, Virginia and Washington, 162-170; Maryland, 162-170; Rhode Island, 151-159; Wisconsin, 1681-1681-8. " at a fixed time after its date, presentment for acceptance before that time is not necessary in order to charge the drawer or indorsers, yet where a bank receives such a bill for collection, its duty is to present the bill for acceptance without delay. For it is to the owner's interest that the bill should be so accepted, as only by accepting it does the drawee become bound to pay it, and until such acceptance the owner has for his debtor only the drawer, and the step is one which a prudent man of business, ordinarily careful of his own interests, would take for his protection. Allen v. Suydam, 17 Wend. 368. A bill payable at a fixed period from its date may be presented for acceptance at any time.. Bachellor v. Priest, 12 Pick. 399; Oxford Bank v. Davis, 4 Cush. 188. $241. When failure to present releases drawer and indorser.- Except as herein otherwise provided, the holder of a bill which is required by the next preceding section to be presented for acceptance must either present it for acceptance or negotiate it within a reasonable time (a). If he fails to do so, the drawer and all indorsers are discharged. (a) Robinson v. Ames, 20 Johns. 146; Gowan v. Jackson, 20 Johns. 176; Wallace v. Agry, 4 Mason, 333; Prescott Bank v. Coverly, 7 Gray, 217; Walsh v. Dort, 23 Wis. 334; Phoenix Ins. Co. v. Allen, 11 Mich. 30; Goupy v. Harden, 7 Taunt. 397. A delay of the mail is a sufficient excuse for the omission to immediately present a bill for acceptance; and a presentation immediately after its reception is in time to charge the indorser. Walsh v. Blatchley, 6 Wis. 422. § 242. Presentment; how made.-Presentment for acceptance must be made by or on behalf of the holder at a reasonable hour (a), on a business day, and before the bill is overdue, to the drawee* or some person authorized to accept or refuse acceptance on his behalf (b); and I. Where a bill is addressed to two or more drawees who are not partners, presentment must be made to them all (c), *The word "drawee" substituted for "drawer" by Laws N. Y. 1898, c. 336. |