the-ordinances-of-the-legislative-counci-1890v2 — Page 150

740 [ 9 of 1885. ] BILLS OF EXCIIANGE ,


(6. ) The place and date of protest, the cause or reason for
protesting the bill, the demand made, and the
answer given, if any, or the fact that the drawee
or acceptor could not be found .
( 8. ) Where a bill is lost or destroyed , or is wrongly detained
from the person entitled to hold it, protest may be made on a
copy or written particulars thereof.
( 9. ) Protest is dispensed with by any circumstance which
would dispense with notice of dishonour. Delay in noting or
protesting is excused when the delay is caused by circumstances
beyond the control of the holder, and not imputable to his
default, misconduct, or negligence. When the cause of delay
ceases to operate the bill must be noted or protested with
reasonable diligence.
Duties of
holder as
52. ( 1. ) When a bill is accepted generally, presentment for
regards payment is not necessary in order to render the acceptor liable.
drawee or
acceptor, ( 2. ) When by the terms of a qualified acceptance present
ment for payment is required, the acceptor, in the absence of
an express stipulation to that effect, is not discharged by the
omission to present the bill for payment on the day that it
matures.

( 3. ) In order to render the acceptor of aа bill liable it is not
necessary to protest it, or that notice of dishonour should be
given to him .
( 4. ) Where the holder of a bill presents it for payment, he
shall exhibit the bill to the person from whom he demands
payment, and when a bill is paid the holder shall forthwith
deliver it up to the party paying it .
Liabilities of parties.
Funds in 53. A bill , of itself, does not operate as an assignment of
hands of
drawee .
funds in the hands of the drawee available for the payment
thereof, and the drawee of a bill who does not accept as required
by this ordinance is not liable on the instrument.
Liability of
acceptor,
54. The acceptor of a bill, by accepting it
>



( 1. ) Engages that he will pay it according to the
tenor of his acceptance :
( 2. ) Is precluded from denying to a holder in due
course :

( a .) The existence of the drawer, the genuineness of his
signature, and his capacity and authority to draw
the bill;