Obrázky stránek
PDF
ePub

the bill according to the tenor of his acceptance, if it is not paid by the drawee, provided it has been duly presented for payment, and protested for non-payment, and that he receives notice of these facts (a).

(2.) The acceptor for honour is liable to the holder and to all parties to the bill subsequent to the party for whose honour he has accepted (b).

(a.) The engagement of an acceptor for honour differs from that of an ordinary acceptor in being conditional on due presentment, vide $$ 67 (2) and 52 (1); on due presentment having been previously made to the drawee, vide § 45, unless excused, vide § 46, followed by a protest for non-acceptance, whether the bill be a foreign or inland bill; and (3), on notice of the presentment and protest. No time is specified for the giving of the notice, but it ought to be before or at the time of presentment for payment. A presentment for payment not accompanied by notice will, probably, not be held to imply notice, and, therefore, not to be a due presentment. The notice need not be in writing. Exhibition of the protest to the acceptor for honour will be sufficient. A verbal or written notice ought to be given in such terms as sufficiently identify the bill, vide note on § 49, and intimate, expressly, the facts of due presentment and of a protest for non-payment being taken. If the bill is not duly presented for payment, vide § 67, the acceptor for honour is discharged. If the bill is duly presented, he is bound to pay the sum in the bill and the charges thereon, vide § 68 (6).

(b.) The liability of an acceptor for honour is not greater than that of an ordinary acceptor, and, accordingly, any defence which an acceptor may state may be relied on by an acceptor for honour, vide § 54. An acceptor for honour is not liable to parties on a bill prior to the party for whose honour he accepts.

§ 66.

67. (1.) Where a dishonoured bill has been Presentment accepted for honour supra protest (a), or contains a for honour.

to acceptor

§ 67.

reference in case of need (b), it must be protested for non-payment (c) before it is presented for payment to the acceptor for honour, or referee in case of need.

(2.) Where the address of the acceptor for honour is in the same place where the bill is protested for non-payment, the bill must be presented to him not later than the day following its maturity; and where the address of the acceptor for honour is in some place other than the place where it was protested for nonpayment, the bill must be forwarded not later than the day following its maturity for presentment to him (d).

(3.) Delay in presentment or non-presentment is excused by any circumstance which would excuse delay in presentment for payment or non-presentment for payment (e).

(4.) When a bill of exchange is dishonoured by the acceptor for honour it must be protested for non-payment by him (ƒ).

(a.) Vide § 65.

(b.) Vide § 15. It is in the option of the holder to resort to the referee in case of need or not, as he may think fit. (c.) Vide 51 (4, 6, 7, 8, 9).

(d.) The provisions as to the time of presentment are regulated by this subsection. For the other conditions of due presentment, vide § 45. Non-business days are excluded in fixing the day for presentment, vide § 92.

(e.) Vide § 46.

(f) This provision applies to an inland bill which is dishonoured by non-payment, notwithstanding § 51 (2).

honour supra

68. (1.) Where a bill has been protested for non- $68. payment (a), any person (b) may intervene and pay it Payment for supra protest (c) for the honour of any party liable Protest. thereon (d), or for the honour of the person for whose account the bill is drawn (e).

(2.) Where two or more persons offer to pay a bill for the honour of different parties, the person whose payment will discharge most parties to the bill shall have the preference (ƒ).

(3.) Payment for honour supra protest, in order to operate as such, and not as a mere voluntary payment, must be attested by a notarial act of honour, which may be appended to the protest, or form an extension of it (g).

(4.) The notarial act of honour must be founded on a declaration made by the payer for honour, or his agent in that behalf, declaring his intention to pay the bill for honour, and for whose honour he pays (h).

(5.) Where a bill has been paid for honour, all parties subsequent to the party for whose honour it is paid are discharged, but the payer for honour is subrogated for, and succeeds to both the rights and duties of, the holder, as regards the party for whose honour he pays, and all parties liable to that party (i).

(6.) The payer for honour on paying to the holder the amount of the bill and the notarial expenses incidental to its dishonour is entitled to receive both the bill itself and the protest. If the holder do not on demand deliver them up, he shall be liable to the payer for honour in damages (j).

$ 68.

(7.) Where the holder of a bill refuses to receive payment supra protest he shall lose his right of recourse against any party who would have been discharged by such payment (k).

(a.) Vide § 51.

(b.) Vide § 2. The consent of the holder is not required as in the case of acceptances for honour. The drawee, if he have not accepted, and an acceptor if he have accepted conditionally with the assent of the drawer and indorsers, vide § 44, and the condition has not been fulfilled, may pay for the honour of any party liable on the bill.

(c.) Protest for non-payment must be made on the day of dishonour by non-payment, and at the place, and in the manner provided in this Act, vide § 51 (4, 6-9) and § 94.

(d.) No one is entitled to pay for the honour of a party to a bill who is not liable thereon. Accordingly, such payment cannot be made for the honour of an indorser who has indorsed without recourse, vide § 16, or in a representative character, or for a principal, vide § 26. In the latter case, payment may be made for the honour of his principal, or of the trust-estate or office which he represents. Such payment also cannot be made where, before it is made, the party to the bill has ceased to be liable thereon either through failure of due presentment, vide § 45, unless dispensed with, vide § 46, or through omission to give notice of dishonour to the person for whose honour the payment is made, vide § 49, unless dispensed with, vide § 50, or through failure duly to protest a foreign bill, vide § 51, or where the obligation of such party has been waived, vide § 62, or cancelled, vide § 63. Payment may be made for the honour of the acceptor-e.g., in the case of a domiciled bill which is not paid by the banker at whose house it is made payable. (e.) Vide note (i) in § 65.

(f) The holder has no option, because he has no interest in preferring one payer for honour to another. An acceptor for honour is not entitled to be preferred where payment by

another person will discharge more parties. If the person
for whose honour he accepted will be discharged by a pay-
ment by another payer for honour, he has no interest to
insist on paying. Payment for the honour of the acceptor will
be preferred to payment for the honour of the drawer. Pay-
ment must be taken from a payer for the drawer rather than
for an indorser, and for a prior rather than a later indorser.
(g.) Vide Appendix for Form of Act of Honour.

(h.) The agent must be specially authorised to act for his
principal in paying for honour, and taking the requisite steps
to preserve his recourse against the person for whose honour
he accepts. Authority to pay for honour will not be implied
from the widest powers of control of his principal's affairs,
as it is not necessary that an agent possess such powers.

(i.) The payer for honour may accordingly proceed to
enforce the bill against the person for whose honour he has
paid; but as he is not a holder, but merely an assignee of
the holder, he takes the bill subject to all exceptions plead-
able against the holder. On the other hand, he must dis-
charge all the duties which were incumbent on the holder.
He must give notice of dishonour by non-payment, vide § 49,
to the person for whose honour he pays, and all persons liable
to that party, if it has not already been done.

(j.) Failure to deliver up the bill and the protest does not
discharge the acceptor for honour from his obligation to pay,
but the holder will be liable for
any damage he may sustain
through the want of them. His recourse against the person
for whose honour he has paid may be injured by the delay
caused through the want of these instruments; and if so, the
holder will be bound to relieve him.

(k.) The holder's rights of recourse are defined in §§ 55, 56,

and 57.

§ 68.

Lost Instruments.

69. Where a bill has been lost before it is overdue (a), the person (b) who was the holder (c) of it may

Holder's right
to duplicate
of lost bill.

« PředchozíPokračovat »