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any defect in the title of the person from whom he acquired it.

Apparent maturity.

620k. The apparent maturity of a bill of exchange, payable at a particular time, is the day on which by its terms it becomes due; or, when that is a holiday, the next business day.

The same.

6201. The apparent maturity of a bill of exchange, payable at sight or on demand, is:

1. If it bears interest, one year after its date; or,

2. If it does not bear interest, ten days after its date, in addition to the time which would suffice, with ordinary diligence, to forward it for acceptance.

Presentment for acceptance, when.

620m. At any time before a bill of exchange is payable, the holder may present it to the drawee for acceptance.

Neglect to present for acceptance excuses drawer and indorsers, when.

620n. When a bill of exchange is payable at a specified time after sight, the drawer and indorsers are exonerated, if it is not presented for acceptance within ten days after the time, which would suffice, with ordinary diligence, to forward it for acceptance, unless such presentment is excused.

Days of grace not allowed.

6200. Days of grace are not allowed.

Bill, where payable.

620p. A bill of exchange is payable, within the country on which it is drawn

1. At the place where, by its terms, it is made payable; or,

2. If it specifies no place of payment, then at the place to which it is addressed; or,

3. If it is not addressed to any place, then at the place of residence or business of the drawee, or wherever he may be found; or,

4. If this cannot be done, then at the office of any notary public in the vicinity.

Bill accepted payable at particular place, to be there presented for payment.

620q. A bill of exchange, accepted payable at a particular place, must be presented at that place for payment, when presentment for payment is necessary, and need not be presented elsewhere.

Bill in different parts.

620r. A bill of exchange may be drawn in any number of parts, each part stating the existence of the others, and all forming one set.

Agreement to draw requires drawing in three parts. 620s. An agreement to draw a bill of exchange binds the drawer to execute it in three parts, if the other party to the agreement desires it.

Presentment, acceptance, or payment of one, good for all.

620t. Presentment, acceptance, or payment of a single part in a set of a bill of exchange, is sufficient for the whole.

Presentment for acceptance or payment, how made. 620u. Presentment for acceptance or payment must be made in the following manner, as nearly as by reasonable diligence it is practicable:

1. The bill must be presented by the holder or his agent;

2. It must be presented on a business day, and within reasonable hours;

3. It must be presented to the drawee, if he can be found at the place where payable, and if not, then to any person of discretion there, or to any notary public in the vicinity; and,

4. If the drawee requests it, the bill must be left with him, until the same hour of the next day, to which time he may postpone his acceptance or refusal.

Presentment to one drawee sufficient for all.

620v. Presentment for acceptance or payment to one of several joint drawees, and refusal by him, dispenses with presentment to the others.

Bill which specifies drawee in case of need, must be presented to him.

620w. A bill of exchange, which specifies a person to be resorted to in case of need, must be presented to him for acceptance or payment, as the case may be, before it can be treated as dishonored.

Bill not drawing interest and not preserted in certain time, parties exonerated.

620x. If a bill of exchange, payable at sight or on demand, without interest, is not duly presented for payment within ten days after the time in which it could, with reasonable diligence, be transmitted to the proper place for such presentment, the drawer and indorsers are exonerated, unless such presentment is excused.

Bill bearing interest delay does not exonerate.

620y. Mere delay in presenting a bill of exchange payable with interest, at sight or on demand, does not exonerate any party thereto.

Presentment for acceptance excused, when.

620z. The presentment of a bill of exchange for acceptance is excused, if the drawee has not capacity to accept it.

Delay in presenting excused, when.

620a1. Delay in the presentment of a bill of exchange for acceptance is excused, when caused by circumstances over which the holder has no control.

Presentment and notice excused, when.

620b1. Presentment of a bill of exchange for acceptance or payment, and notice of its dishonor, are excused as to the drawer, if he forbids the drawee to accept, or the acceptor to pay the bill; or if, at the time of drawing, he had no reason to believe that the drawee would accept or pay the same.

Presentment, when excused.

620c1. Presentment of a bill of exchange and notice thereof are excused as to any party to the bill who informs the holder, within ten days before its maturity, that it will be dishonored.

Delay in presentment, when excused.

620d1. Delay in presentment, or in giving notice of the dishonor of a bill of exchange, is excused when caused by circumstances, which the party delaying could not have avoided by the exercise of reasonable care and diligence.

Waiver of presentment and of notice, effect of.

620e1. A waiver of presentment of a bill of exchange waives notice of dishonor also, unless the contrary is expressly stipulated; but a waiver of notice does not waive presentment.

Acceptance to be in writing.

62011. An acceptance of a bill of exchange must be made in writing, by the drawee, or by an acceptor for honor; and may be made by the acceptor writing his name across the face of the bill, with or without other words.

If written acceptance refused, bill dishonored.

620g1. The holder of a bill of exchange, if entitled to an acceptance thereof, may treat the bill as dishonored, if the drawee refuses to write across its face an unqualified acceptance.

What may be treated as sufficient acceptance.

620h1. The holder of a bill of exchange may, without prejudice to his rights against prior parties, receive and treat as a sufficient acceptance:

1. An acceptance written upon any part of the bill, or upon a separate paper;

2. An acceptance qualified so far only as to make the bill payable at a particular place within the city or municipality in which, if the acceptance were unqualified, it would be payable; or,

3. A refusal by the drawee to return the bill to the holder after presentment; in which case the bill is deemed to be payable immediately, without regard to its terms.

ing.

Acceptance on separate instrument, how far bind

62011. The acceptance of a bill of exchange, by a separate instrument, binds the acceptor only to one to whom the instrument has been shown, and who, upon the faith thereof, has given value for the bill.

Unconditional promise to accept, sufficient when. 620j1. An unconditional promise, in writing, to accept a bill of exchange, is a sufficient acceptance thereof, in favor of every person to whom the promise has been shown, and who, upon the faith thereof, has given value for the bill.

When acceptor may cancel acceptance.

620k1. The acceptor of a bill of exchange may cancel his acceptance at any time before delivering the bill to the holder, and before the holder has, with the con

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