the-ordinances-of-the-legislative-counci-1890v4 — Page 61

1878 ORDINANCE No. 9 OF 1885 .


Bills of Exchange.


Acceptance and payment for honour.

Acceptance 65. ( 1. ) Where a bill of exchange has been protested for dishonour
for honour
suprà protest. by non - acceptance, or protested for better security, and is not overdue ,
any person, not being a party already liable thereon, may, with the con

sent 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 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.

Liability of 66. ( 1. ) The acceptor for honour of a bill by accepting it engages
acceptor for
honour. 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 re
ceives notice of these facts.

(2. ) The acceptor for honour is liable to the holder and to all par
ties to the bill subsequent to the party for whose honour he has accepted .

Presentment 67. ( 1. ) Where a dishonoured bill has been accepted for honour suprà
to acceptor
for honour . 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