308
No. 3 of 1885.
Liability of
honour.
BILLS OF EXCHANGE.
(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, 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.
Presentment
to acceptor
for honour.
(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.
7
(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 the bill 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 is dishonoured by the acceptor for honour, it must be protested for non-payment by him.
308
No. 3 of 1885.
Liability of
honour.
BILLS OF EXCHANGE.
(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. hoceptor for it, engages that he will, on due presentiment, 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.
Presentment
to acceptor
for honour.
(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.
7
(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 follow- ing its maturity; and where the address of the acceptor for honour is in some place other than the place where the bill 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 is dishonoured by the acceptor for honour, it must be protested for non-payment by him.
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