THE HONGKONG GOVERNMENT GAZETTE, 9TH MAY, 1885.
(2.) A bill may be accepted for honour for part only of the sum for which it is drawn.
(3.) An acceptance for honour suprà protest in order to be valid must-
(a.) Be written on the bill, and indicate that it is an acceptance for honour:
(b.) Be signed by the acceptor for honour.
(4.) Where an acceptance for honour does not expressly state for whose honour it is made, it is deemed to be an acceptance for the honour of the drawer.
(5.) Where a bill payable after sight is accepted for honour, its maturity is calculated from the date of the noting for non-acceptance, and not from the date of the acceptance for honour.
66. (1.) The acceptor for honour of a bill by accepting it engages that he will, on due presentment, pay 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.
(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.
67. (1.) Where a dishonoured bill has been accepted for honour suprà protest, or contains a reference in case of need, it must be protested for non-payment 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 non-payment, the bill must be forwarded not later than the day following its maturity for presentment to him.
(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.
(4.) When a bill of exchange is dishonoured by the acceptor for honour it must be protested for non-payment by him.
68. (1.) Where a bill has been protested for non-payment any person may intervene and pay it suprà protest for the honour of any party liable thereon, or for the honour of the person for whose account the bill is drawn.
(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.
Liability of
acceptor for honour.
Presentment to
acceptor for honour.
Payment for honour supra protest.
421
THE HONGKONG GOVERNMENT GAZETTE, 9TH MAY, 1885.
(2.) A bill may be accepted for honour for part only of the sum for which it is drawn.
(3.) An acceptance for honour suprà protest in order to be valid must-
(a.) Be written on the bill, and indicate that it is an
acceptance for honour:
(b.) Be signed by the acceptor for honour.
(4.) Where an acceptance for honour does not expressly state for whose honour it is made, it is deemed to be an acceptance for the honour of the drawer.
(5.) Where a bill payable after sight is accepted for hon- our, its maturity is calculated from the date of the noting for non-acceptance, and not from the date of the acceptance for honour.
66. (1.) The acceptor for honour of a bill by accepting it engages that he will, on due presentment, pay 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.
(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.
67. (1.) Where a dishonoured bill has been accepted for honour suprà protest, or contains a reference in case of uced, it must be protested for non-payment 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 ac- ceptor for honour is in some place other than the place where it was protested for non-payment, the bill must be forwarded not later than the day following its maturity for presentment to him.
(3.) Delay in presentment or non-presentment is excused by any circumstance which would excuse delay in present- ment for payment or non-presentment for payment.
(4.) When a bill of exchange is dishonoured by the ac- ceptor for honour it must be protested for non-payment by him.
68. (1.) Where a bill has been protested for non-payment any person may intervene and pay it suprà protest for the honour of any party liable thereon, or for the honour of the person for whose account the bill is drawn.
(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 prefer-
ence.
(3.) Payment for honour suprà protest, in order to oper- ate as such and not as a mere voluntary payment, raust be attested by a notarial art of honour which may be aprended 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 dis- charged, but the payer for honour is subrogated for, and succeeds to both the rights and duties of the holder as re- gards 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 do 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.
Liability of
acceptor for honour.
Presentment to acceptor for honour.
Payment for honour supra protest.
421
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