sufficient in the principal case to charge the acceptor, supra protest, because the acceptance was in these words "If regularly protested and refused when due;" and they said the drawees could not be said to refuse, unless they were asked. The Court also appear to have been clear, that though there might be cases in which an exhibition of the bill to a notary in London is sufficient, yet that in all cases a bill may be sent to the drawee, and indeed that such is the more regular course (s).

By the 2 & 3 Will. 4, c. 98, it was enacted, that all bills made payable by the drawer elsewhere than at his residence, were to be protested where payable. This statute is repealed by the Code, which enacts as follows:

A bill must be protested at the place where it is dishonoured; but when presented through the Post Office, and returned by post dishonoured, it may be protested at the place to which it is returned, and on the day of its return, if during business hours, otherwise on the morrow if a business day.

Where a bill drawn, payable at the place of business or residence of some other person than the drawee, has been dishonoured by non-acceptance, it must be protested where payable, and no further presentment for payment to, or demand on, the drawee is necessary (t).

66

CHAPTER

XVI,

The undertaking of the acceptor, supra protest, is not an Liability of absolute engagement to pay at all events, but only a col- acceptor lateral conditional engagement to pay, if the drawee do not. supra protest. "It is," says Lord Ellenborough, an undertaking to pay, if the original drawee, upon a presentment to him for payment, should persist in dishonouring the bill, and such dishonour by him be notified, by protest, to the person who has accepted for honour" (u). The learned Judge proceeds to lay down the doctrine that a second protest is necessary; observing: "The use and convenience, and, indeed, the

(*) Mitchell v. Baring, 10 B. & C. 4; M. & M. 581 ; 4 C. & P. 35; 34 R. R. 307.

(t) Code, s. 51 (6).

(u) Hoare v. Cazenove, 16 East, 391; 14 R. R. 370. See Vandewall v. Tyrrell, M. & M. 87. In America it is held that where a draft has been protested for non-acceptance, the holder is not bound to present it at maturity for payment. Ereter Bank v. Gordon, 8 New Hamp. 66. But this is not so when there has

been an acceptance supra protest.
An acceptor for the honour of the
drawer cannot recover against
him without proof of presentment
for acceptance or payment and
refusal, and notice to the drawer.
Baring v. Clark, 19 Pick. 220.
He who accepts, supra protest,
is not liable unless demand of
payment is made on the drawer
and notice of the refusal given.
Schofield v. Baynard, 3 Wendell,
491. See Byles on Bills, 6th
American ed. 404.

XVI.

CHAPTER necessity of a protest upon foreign bills of exchange, in order to prove, in many cases, the regularity of the proceedings thereupon, is too obvious to warrant us in dispensing with such an instrument in any case where the custom of merchants, as reported in the authorities of law, appears to have required it." And a second protest, for non-payment by the drawee, is after acceptance, supra protest, equally necessary, in order that either the holders may charge the acceptor, supra protest, or the acceptor, supra protest, may charge the party for whose honour the acceptance was given. The object of an acceptance for honour is to save to the holder all those rights which he would have enjoyed, had the bill been accepted in a regular manner. If the bill be drawn payable at a certain period after sight, and accepted supra protest, a second presentment for payment, and protest and notice, is still essential, for the purpose of enabling the holder to sue either drawer or acceptor supra protest, or enabling the latter to sue the party for whose honour he has accepted. And the time which the bill has to run was formerly computed, not from the date of the exhibition to the drawee, but from the date of the acceptance supra protest (x). Presentment to the drawee, and protest, must be averred in the pleadings (y). The acceptor, supra protest, becomes liable to all parties on the bill subsequent to him for whose honour the acceptance was made (z).

Rights of acceptor supra protest.

The acceptor, supra protest, admits the genuineness of the signature, and is bound by any estoppel binding on the party for whose honour he accepts. Thus, where a bill was drawn in favour of a non-existing person or order, but the name of the drawer and the name of the payee and first indorser were both forged and the defendant accepted for the honour of the drawer, it was held that the defendant was estopped from disputing the drawer's signature, and that the bill, though drawn in favour of a non-existing person, was negotiable, and payable to bearer (a).

By acceptance supra protest, the party for whose honour it was made, and all parties antecedent to him, become liable to the acceptor, supra protest, for all damages which he may incur by reason of his acceptance (b). The acceptor

(x) Williams v. Germaine, 7
B. & C. 468; 1 Man. & R. 394,
403; 31 R. R. 248 (but see now
Code, s. 65 (5)).
(y) Ibid.

() Hoare v. Cazenove, 16 East,
391; 14 R. R. 370: Bayley,

6th ed. 178; Beawes, 33: Marius, 21; Ex parte Wackerbath, 5 Ves. 574; Code, s. 66 (2).

(a) Phillips v. Im Thurn, L. R., 1 C. P. 463.

(b) Beawes, 47: Code, s. 68 (5).

XVI.

supra protest, where the bill has been protested for better CHAPTER security, has his remedy also against the acceptor (c). It was once held (d), that a party paying for the honour of the drawer had no claim on the assignees of the accommodation acceptor, because the drawer himself had none, but in a later case it was decided that he could recover against the acceptor whether the acceptance were given for value or not (e).

(c) Ex parte Wackerbath, 5 Ves. 574.

(d) Ex parte Lambert, 13 Ves. 179; 9 R. R. 169.

(e) Ex parte Swan, L. R., 6 Eq. 344. In America it is held that if a third party takes up a bill at its maturity for the honour of the drawer, and at his request,

he thereby releases the accom-
modation acceptor of such bill,
whether he intended it or not.
See Byles on Bills, 6th American
ed. 404. A holder of a bill, for
which value has at any time been
given, can recover against the
accommodation acceptor. Code,
ss. 27 (2) and 28 (2).

An approved acceptance in a mercantils cet
means an acceptance to a: no reasonable objection
can be taken, & it is not competent to prove that
the custom of the trade it means an accoplanci
tou no
objection has in fact been made
mc Dowall & Neilson's Trustee. Snowball Co. 7 F. 35.

280

CHAPTER XVII.

OF PRESENTMENT FOR PAYMENT.

CHAPTER

XVII.

SUBJECT to the other provisions of the Code, a bill or note must be duly presented for payment (a).

If it be not so presented, the drawer and indorsers shall be discharged (b) (except, as we have seen, the drawer of a cheque, who suffers no damage, Code, s. 74).

(a) Code, s. 45. The other provisions seem to be those in ss. 46, relating to excuse of presentment, delay, &c.; 86 and 87, as to promissory notes.

(b) Code, s. 45. The acceptor

or maker still, in general, remaining liable, neither are protest or notice of dishonour required to charge him. Code, ss. 52 and 87 (1). Ante, p. 239.

XVII.

When to be made if pay

When the bill or note is payable on demand, then subject CHAPTER to the other provisions of the Code presentment must be made within a reasonable time after its issue in order to render the drawer liable, and within a reasonable time after its indorsement in order to render the indorser liable. In able on determining what is a reasonable time, regard shall be had demand; to the nature of the bill, the usage of trade with regard to similar bills, and the facts of the particular case; it is therefore a mixed question of law and fact (c).

When the bill or note is not payable on demand, present- if not on ment must be made on the day on which it falls due; to be demand. determined as follows (d).

Three days of grace are in every case (unless otherwise Three days of provided in the bill or note) added to the time of payment, grace. and the bill or note falls due on the last of these.

If the last day of grace fall on a Sunday, Christmas Day, Sundays. Good Friday, or Public Fast, the bill is due and payable on the preceding business day.

When the last day of grace is a bank holiday (other than Bank holiChristmas Day or Good Friday), or is a Sunday, and the days. second day of grace is a bank holdiday, the bill is due and payable on the succeeding business day.

When a bill is payable at a fixed period, as say a certain Time, how number of days after date, after sight, or after the happening computed. of a specified event, the period or those days are reckoned

(e) Sects. 10 and 45 (2); the other provisions seem to be those in ss. 46 and 86.

A note payable on demand is more leniently treated, as to when it is to be considered as overdue, than other instruments payable on demand, and consequently perhaps a more liberal interpretation will be given to reasonable time; neglect to present bank notes has been held excused if they were circulated within a reasonable time, Camidge v. Allenby, 6 B. & C. 373; 30 R. R. 358; and bankers' cash notes, if they be returned within a reasonable time, Rogers v. Langford, 1 C. & M. 637; Robson v. Oliver, 10 Q. B. 704; and see Code, s. 36 (3).

(d) Code, s. 14. Bank holidays as regulated by 34 Vict. c. 17, and 38 Vict. c. 13, s. 2, are for England and Ireland: Easter Monday, Whit Monday, first Monday in August, 26th of December, if a week day (if not the 27th). And in Scotland: New Year's Day, Christmas Day (if either be Sunday, then Monday), Good Friday, the first Monday in May, and in August. By the French Code a bill that would otherwise fall due on a fête day, established by law, falls due on the preceding day. Code de Commerce, liv. i. tit. 8, art. 134. See, too, Tassell v. Lewis, 1 Lord Ray. 743.