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all, unless one has authority to accept or refuse acceptance for all, in which case presentment may be made to him only.

"2. Where the drawee is dead, presentment may be made to his personal representatives.

"3. Where the drawee has been adjudged a bankrupt or an insolvent, or has made an assignment for the benefit of creditors, presentment may be made to him or to his trustee or assignee.

"Sec. 146. A bill may be presented for acceptance on any day on which negotiable instruments may be presented for payment under the provisions of sections 72 and 85 of this Act. When Saturday is not otherwise a holiday, presentment for acceptance may be made before 12:00 o'clock noon on that day."

Question 538: When must a bill be presented for acceptance? If there are two or more drawees, must presentment be made to all in order to charge indorsers and drawer? What is the rule where drawee is dead? Bankrupt?

Upon what day must presentment be made?

§ 504. (Nego. Instru., Sec. 112.) When excused; delay in presentment.

Case 539. Uniform Negotiable Instruments Act, Secs. 147, 148.

"[Sec. 147.] Where the holder of a bill drawn payable elsewhere than at the place of business or residence of the drawee has not time, with the exercise of reasonable diligence to present the bill for acceptance before presenting it for payment on the day that it falls due, the delay caused by presenting the bill for acceptance before presenting it for payment is excused and does not discharge the drawers and indorsers.

"[Sec. 148.] Presentment for acceptance is excused and a bill may be treated as dishonored by non-acceptance in either of the following cases:

"1. Where the drawee is dead, or has absconded, or is a fictitious person or a person not having capacity to contract by bill.

"2. Where, after the exercise of reasonable diligence presentment cannot be made.

"3. Where, although presentment has been irregular, acceptance has been refused on some ground."

Question 539: When is presentment excused? Delay excused?

§ 505. (Nego. Instru., Sec. 113.) Right of holder when bill not accepted.

Case 540. Uniform Negotiable Instruments Act, Secs. 149, 150, 151.

"[Sec. 149.] A bill is dishonored by non-acceptance: "1. When it is duly presented for acceptance and such an acceptance as is prescribed by this Act is refused or cannot be obtained; or

"2. When a presentment for acceptance is excused and the bill is not accepted.

"[Sec. 150.] Where a bill is duly presented for acceptance and is not accepted within the prescribed time, the person presenting it must treat the bill as dishonored by non-acceptance, or he loses the right of recourse against the drawer and indorser.

"[Sec. 151.] When a bill is dishonored by non-acceptance, an immediate right of recourse against the drawers and indorsers accrues to the holders, and no presentment for payment is necessary."

Question 540: (1) When is a bill dishonored by non-accepttance?

(2) If non-accepted, what right has the holder?

CHAPTER 62

NOTICE OF DISHONOR

§ 506. Notice of dishonor necessary to charge drawer and indorser.

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§ § 506, 507. (Nego. Instru., Secs. 114, 115.) Case 541. Uniform Negotiable Instruments Act, Secs. 89-108.

"[Sec. 89.] Except as herein otherwise provided, when a negotiable instrument has been dishonored by non-acceptance or non-payment, notice of dishonor must be given to the drawer and to each indorser, and any drawer or indorser to whom such notice is not given is discharged.

"[Sec. 90.] The notice may be given by on behalf of the holder, or by or on behalf of any party to the instrument who might be compelled to pay it to the holder, and who, upon taking it up, would have a right to reimbursement from the party to whom the notice is given.

"[Sec. 91.] Notice of dishonor may be given by an agent, either in his own name or in the name of any party entitled to give notice, whether that party be his principal or not.

"[Sec. 92.] Where notice is given by or on behalf of the holder, it inures for the benefit of all subsequent holders and all prior parties who have a right of recourse against the party to whom it is given.

"[Sec. 93.] Where notice is given by or on behalf of a party entitled to give notice, it inures for the benefit of the holder and all parties subsequent to the party to whom notice is given.

"[Sec. 94.] Where the instrument has been dishonored in the hands of an agent, he may either himself give notice to the parties liable thereon or he may give notice to his principal. If he gives notice to his principal, he must do so within the same time as if he were the holder and the principal upon the receipt of such notice, has himself the same time for giving notice as if the agent had been an independent holder.

"[Sec. 95.] A written notice need not be signed, and an insufficient written notice may be supplemented and validated by verbal communication. A misdescription of the instrument does not vitiate unless the party to whom the notice is given is in fact misled thereby.

"[Sec. 96.] The notice may be in writing or merely oral and may be given in any terms which sufficiently identify the instrument and indicate that it has been dishonored by non-acceptance or non-payment. It may in all cases be given by delivering it personally or through the mails.

"[Sec. 97.] Notice of dishonor may be given either to the party himself or to his agent in that behalf.

"[Sec. 98.] Where any party is dead, and his death is known to the party giving notice, the notice must be given to a personal representative, if there be one, and if with reasonable diligence he can be found. If there be no personal representative, notice may be sent to the last residence or last place of business of the deceased.

"[Sec. 99.] Where the parties to be notified are partners, notice to any one partner is notice to the firm, even though there has been a dissolution.

"[Sec. 100.] Notice to joint parties who are not partners must be given to each of them, unless one of them has authority to receive such notice for the others.

"[Sec. 101.] Where a party has been adjudged a bankrupt or an insolvent, or has made an assignment for the benefit of his creditors, notice may be given either to the party himself or to his trustee or assignee.

"[Sec. 102.] Notice may be given as soon as the instrument is dishonored, and unless delay is excused as

hereinafter provided. must be given within the times fixed by this act..

"[Sec. 103.] Where the person giving and the person to receive notice reside in same place, notice must be given within the following times:

1. If given at the place of business of the person to receive notice, it must be given before the close of business hours on the day following.

2. If given at his residence, it must be given before the usual hours of rest on the day following.

3. If sent by mail, it must be deposited in ne postoffice in time to reach him in the usual course on the day following.

"[Sec. 104.] Where the person giving and the person to receive notice reside in different places, the notice must be given within the following times:

1. If sent by mail, it must be deposited in the postoffice in time to go by mail the day following the day of dishonor, or if there be no mail at a convenient hour on that day by the next mail thereafter.

2. If given otherwise than through the postoffice, then within the time that notice would have been received in due course of mail, if it had been deposited in the postoffice within the time specified in the last subdivision.

"[Sec. 105.] Where notice of dishonor is duly addressed and deposited in the postoffice, the sender is deemed to have given due notice, notwithstanding any miscarriage in the mails.

"[Sec. 106.] Notice is deemed to have been deposited in the postoffice when deposited in any branch postoffice or in any letter box under the control of the postoffice department.

"[Sec. 107.] Where a party receives notice of dishonor, he has, after the receipt of such notice, the same time for giving notice to antecedent parties that the holder has after dishonor.

"[Sec. 108.] Where a party has added an address to his signature, notice of dishonor must be sent to that ad

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