BILLS OF EXCHANGE.
No. 3 of 1885.
217
(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.
(3) Payment for honour suprà 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.
(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.
(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.
(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 does not on demand deliver them up, he shall be liable to the payer for honour in damages.
(7) Where the holder of a bill refuses to receive payment suprà protest, he shall lose his right of recourse against any party who would have been discharged by such payment.
Lost instrument.
69.-(1) Where a bill has been lost before it is overdue, the person who was the holder of it may apply to the drawer to give him another bill of the same tenor, giving security to the drawer, if required, to indemnify him against all persons whomsoever in case the bill alleged to have been lost shall be found again.
(2) If the drawer, on request as aforesaid, refuses to give such duplicate bill, he may be compelled to do so.
70. In any action or proceeding upon a bill, the court or a judge may order that the loss of the instrument shall not be set up, provided an indemnity be given, to the satisfaction of the court or judge, against the claims of any other person upon the instrument in question.