one* apply where there is delay in making presentment to the acceptor for honor or referee in case of need.

§ 289. Dishonor of bill by acceptor for honor.- When the bill is dishonored by the acceptor for honor it must be protested for non-payment by him.

ARTICLE XV.†

PAYMENT OF BILLS OF EXCHANGE FOR HONOR.

Section 300. Who may make payment for honor.
301. Payment for honor; how made.

302. Declaration before payment for honor.
303. Preference of parties offering to pay for honor.
304. Effect on subsequent parties where bill is paid

for honor.

305. Where holder refuses to receive payment supra protest.

306. Rights of payer for honor.

$300. Who may make payment for honor.-Where a bill has been protested for non-payment, any person may intervene and pay it supra protest for the honor of any person liable thereon or for the honor of the person for whose account it was drawn (a).

(a) Byles on Bills, 267-269; Daniel on Neg. Inst., section 1254.

301. Payment for honor; how made. The payment for honor supra protest in order to operate as such and not

* Number one hundred and forty-one substituted for eighty-one by Laws N. Y. 1898, c. 336.

†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, 171-177; Rhode Island, 179-185; Maryland, 190-196; Wisconsin, 1681-28-1681-34.

as a mere voluntary payment must be attested by a notarial act of honor, which may be appended to the protest or form an extension to it (a).

(a) Byles on Bills, 267; Daniel on Neg. Inst., section 1258. A stranger to the drawer and indorser of a non-accepted bill may intervene supra protest, to pay the same for the honor of the indorser or drawer. Konig v. Bayard, 1 Pet. 250. And it is no objection to this intervention that it has been done at the request and under the guarantee of the drawer who had refused acceptance or payment. (Id.)

§ 302. Declaration before payment for honor.- The notarial act of honor must be founded on a declaration made by the payer for honor, or by his agent in that behalf declaring his intention to pay the bill for honor and for whose honor he pays.

$303. Preference of parties offering to pay for honor. —Where two or more persons offer to pay a bill for the honor of different parties, the person whose payment will discharge most parties to the bill is to be given the pref

erence.

§ 304. Effect on subsequent parties where bill its paid for honor.-Where a bill has been paid for honor all parties subsequent to the party for whose honor it is paid. are discharged, but the payer for honor is subrogated for, and succeeds to, both the rights and duties of the holder as regards the party for whose honor he pays and all parties liable to the latter (a).

(a) Daniel on Neg. Inst., section 1255.

$305. Where holder refuses to receive paymen supra protest.-Where the holder of a bill refuses to receive payment supra protest, he loses his right of recourse against any party who would have been discharged by such payment.

§ 306. Rights of payer for honor. The payer for honor, on paying to the holder the amount of the bill and the notarial expenses incidental to its dishonor, is entitled to receive both the bill itself and the protest.

ARTICLE XVI.*

BILLS IN A SET.

Section 310. Bills in sets constitute one bill.

311. Rights of holders where different parts are negotiated.

312. Liability of holder who indorses two or more parts of a set to different persons.

313. Acceptance of bills drawn in sets.

314. Payment by acceptor of bills drawn in sets.
315. Effect of discharging one of a set.

§ 310. Bills in sets constitute one bill.-Where a bill is drawn in a set, each part of the set being numbered and containing a reference to the other parts, the whole of the parts constitute one bill (a).

(a) Byles on Bills, 387; Daniel on Neg. Inst., section 113; Durkin v. Cranston, 7 Johns. 442.

§ 311. Rights of holders where different parts are negotiated. Where two or more parts of a set are negotiated to different holders in due course, the holder whose title first accrues is as between such holders the true owner of the bill (a). But nothing in this section affects the rights.

* 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, 178-183; Maryland, 197-202; Rhode Island, 186-191; Wisconsin, 1681-35-1681-40.

of a person who in due course accepts or pays the part first presented to him.

(a) Byles on Bills, 389; Walsh v. Blatchley, 6 Wis. 422.

312. Liability of holder who indorses two or more parts of a set to different persons.-Where the holder of a set indorses two or more parts to different persons he is liable on every such part, and every indorser subsequent to him is liable on the part he has himself indorsed, as if such parts were separate bills (a).

(a) Holdsworth v. Hunter, 10 C. B. 449; Byles on Bills, 389.

§ 313. Acceptance of bills drawn in sets. The acceptance may be written on any part, and it must be written on one part only. If the drawee accepts more than one part, and such accepted parts are negotiated to different holders in due course, he is liable on every such part as if it were a separate bill (a).

(a) Holdsworth v. Hunter, 10 C. B. 449; Byles on Bills, 389. Either of the set may be presented for acceptance, and if not accepted a right of action arises, upon due notice, against the indorser. Dounes & Co. v. Church, 13 Peters, 205; Walsh v. Blatchley, 6 Wis. 422, 425.

§ 314. Payment by acceptor of bills drawn in sets.— When the acceptor of a bill drawn in a set pays it without requiring the part bearing his acceptance to be delivered up to him, and that part at maturity is outstanding in the hands of a holder in due course, he is liable to the holder thereon (a).

(a) Byles on Bills, 389.

§ 315. Effect of discharging one of a set.--Except as herein otherwise provided, where any one part of a bill

drawn in a set is discharged by payment or otherwise the whole bill is discharged (a).

(a) Byles on Bills, 388. The Wisconsin Act contains an additional article, as follows:

Section 1682. Whenever any bill of exchange drawn or indorsed within this State and payable without the limits of the United States shall be duly protested for non-acceptance or non-payment the party liable for the contents of such bill shall, on due notice and demand thereof, pay the same at the current rate of exchange at the time of the demand, and damages at the rate of five per cent. upon the contents thereof, together with interest on the said contents, to be computed from the date of the protest; and said amount of contents, damages and interest shall be in full of all damages, charges and expenses.

§ 1683. If any bill of exchange drawn upon any person or corporation out of this State, but within some State or Territory of the United States, for the payment of money shall be duly presented for acceptance or payment and protested for non-acceptance or non-payment the drawer or indorser thereof, due notice being given of such non-acceptance or non-payment, shall pay said bill, with legal interest according to its tenor and five per cent. damages, together with costs and charges of protest.

ARTICLE XVII.*

PROMISSORY NOTES AND CHECKS.

Section 320. Promissory note defined.

321. Check defined.

322. Within what time a check must be presented. 323. Certification of check; effect of.

324. Effect where holder of check procures it to be certified.

325. When check operates as an assignment.

* 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, 184-189; Maryland, 203-208; Rhode Island, 192-197; Wisconsin, 1684-1684-5.