the-ordinances-of-the-legislative-counci-1890v2 — Page 154

744 [ 9 OF 1885. ] BILLS OF EXCHANGE .

Alteration of
bill .
64. ( 1. ) Where a bill or acceptance is materially altered
without the assent of all parties liable on the bill , the bill is
avoided except as against a party who has himself made, au
thorised, or assented to the alteration, and subsequent indorsers.
Provided that,
Where a bill has been materially altered, but the alteration
is not apparent, and the bill is in the hands of a holder
in due course, such holder may avail himself of the
bill as if it had not been alterėd , and may enforce
payment of it according to its original tenour.
( 2.) In particular the following alterations are material ,
namely, any alteration of the date, the sum payable, the time of
payment, the place of payment, and, where a bill has been
accepted generally, the addition of a place of payment without
the acceptor's assent.
Acceptance and payment for honour.
Acceptance
for honour
65. ( 1. ) Where a bill of exchange has been protested for
suprà protest. dishonour by non -acceptance, or protested for better security ,
and is not overdue, any person , not being a party already liable
thereon, may, with the consent of the holder, intervene and
accept the bill 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. ) 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 ac
ceptance for honour :
( 6. ) 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 accept
ance 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.
Liability of 66. ( 1. ) The acceptor for honour of a bill by accepting it
acceptor for
honour, 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.