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46-7-1 |
Ch. 46 — NEGOTIABLE INSTRUMENTS |
Notice of Dishonor |
To Whom Notice of Dishonor Given |
Except as herein otherwise provided, when a negotiable instrument has been dishonored by nonacceptance or nonpayment, notice of dishonor must be given to the dr… |
Proofed
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46-7-2 |
Ch. 46 — NEGOTIABLE INSTRUMENTS |
Notice of Dishonor |
By Whom Notice Given |
The notice may be given by or on behalf of the holder, or by or on behalf of any party to the instrument who might be compelled to pay it to the holder, and who… |
Proofed
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46-7-3 |
Ch. 46 — NEGOTIABLE INSTRUMENTS |
Notice of Dishonor |
Form of Notice by Agent |
Notice of dishonor may be given by an agent either in his own name or in the name of any party entitled to give notice, whether that party be his principal or n… |
Proofed
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46-7-4 |
Ch. 46 — NEGOTIABLE INSTRUMENTS |
Notice of Dishonor |
Effect of Notice Given on Behalf of Holder |
Where notice is given by or on behalf of the holder, it inures to the benefit of all subsequent holders and all prior parties who have a right of recourse again… |
Proofed
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46-7-5 |
Ch. 46 — NEGOTIABLE INSTRUMENTS |
Notice of Dishonor |
Effect Where Notice is Given by Party Entitled Thereto |
Where notice is given by or on behalf of a party entitled to give notice, it inures to the benefit of the holder and all parties subsequent to the party to whom… |
Proofed
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46-7-6 |
Ch. 46 — NEGOTIABLE INSTRUMENTS |
Notice of Dishonor |
When Agent May Give Notice |
Where the instrument has been dishonored in the hands of an agent, he may either himself give notice to the parties liable thereon, or he may give notice to his… |
Proofed
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46-7-7 |
Ch. 46 — NEGOTIABLE INSTRUMENTS |
Notice of Dishonor |
When Notice Sufficient |
A written notice need not be signed, and an insufficient written notice may be supplemented and validated by verbal communication. A misdescription of the instr… |
Proofed
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46-7-8 |
Ch. 46 — NEGOTIABLE INSTRUMENTS |
Notice of Dishonor |
Form of Notice |
The notice may be in writing or merely oral and may be given in any terms which sufficiently identify the instrument and indicate that it has been dishonored by… |
Proofed
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46-7-9 |
Ch. 46 — NEGOTIABLE INSTRUMENTS |
Notice of Dishonor |
To Whom Notice May be Given |
Notice of dishonor may be given either to the party himself or to his agent in that behalf. |
Proofed
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46-7-10 |
Ch. 46 — NEGOTIABLE INSTRUMENTS |
Notice of Dishonor |
Notice When Party is Dead |
When any party is dead, and his death is known to the party giving the notice, the notice must be given to a personal representative, if there be one, and if wi… |
Proofed
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46-7-11 |
Ch. 46 — NEGOTIABLE INSTRUMENTS |
Notice of Dishonor |
Notice to Partners |
Where the parties to be notified are partners, notice to any one partner is notice to the firm, even though there has been a dissolution. |
Proofed
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46-7-12 |
Ch. 46 — NEGOTIABLE INSTRUMENTS |
Notice of Dishonor |
Notice to Persons Jointly Liable |
Notice to joint parties who are not partners must be given to each of them, unless one of them has authority to receive such notice for the others. |
Proofed
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46-7-13 |
Ch. 46 — NEGOTIABLE INSTRUMENTS |
Notice of Dishonor |
Notice to Bankrupt |
Where a party has been adjudged a bankrupt or an insolvent, or has made an assignment for the benefit of creditors, notice may be given either to the party hims… |
Proofed
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46-7-14 |
Ch. 46 — NEGOTIABLE INSTRUMENTS |
Notice of Dishonor |
Time Within Which Notice to be Given |
Notice may be given as soon as the instrument is dishonored, and, unless delay is excused as hereinafter provided, must be given within the times fixed by this … |
Proofed
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46-7-15 |
Ch. 46 — NEGOTIABLE INSTRUMENTS |
Notice of Dishonor |
Where Parties Reside in Same Place |
Where the person giving and the person to receive notice reside in the same place, notice must be given within the following times:
(a) If given at the place o… |
Proofed
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46-7-16 |
Ch. 46 — NEGOTIABLE INSTRUMENTS |
Notice of Dishonor |
Where Parties Reside in Different Places |
Where the person giving and the person to receive notice reside in different places, the notice must be given within the following times:
(a) If sent by mail, … |
Proofed
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46-7-17 |
Ch. 46 — NEGOTIABLE INSTRUMENTS |
Notice of Dishonor |
Miscarriage in Mails; Notice Deemed to Have Been Given |
Where notice of dishonor is duly addressed and deposited in the post office, the sender is deemed to have given due notice, notwithstanding any miscarriage in t… |
Proofed
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46-7-18 |
Ch. 46 — NEGOTIABLE INSTRUMENTS |
Notice of Dishonor |
Deposit in Post Office; What Constitutes |
Notice is deemed to have been deposited in the post office when deposited in any branch post office or in any letter box under the control of the post office de… |
Proofed
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46-7-19 |
Ch. 46 — NEGOTIABLE INSTRUMENTS |
Notice of Dishonor |
Notice to Antecedent Parties |
Where a party receives notice of dishonor, he has, after the receipt of such notice, the same time for giving notice to antecedent parties that the holder has a… |
Proofed
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46-7-20 |
Ch. 46 — NEGOTIABLE INSTRUMENTS |
Notice of Dishonor |
Where Notice Must be Sent |
Where a party has added an address to his signature, notice of dishonor must be sent to that address; but if he has not given such address, then the notice must… |
Proofed
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46-7-21 |
Ch. 46 — NEGOTIABLE INSTRUMENTS |
Notice of Dishonor |
Waiver of Notice |
Notice of dishonor may be waived, either before the time of giving notice has arrived, or after the omission to give due notice, and the waiver may be express o… |
Proofed
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46-7-22 |
Ch. 46 — NEGOTIABLE INSTRUMENTS |
Notice of Dishonor |
Parties Affected by Waiver |
Where the waiver is embodied in the instrument itself, it is binding upon all parties; but where it is written above the signature of an indorser it binds him o… |
Proofed
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46-7-23 |
Ch. 46 — NEGOTIABLE INSTRUMENTS |
Notice of Dishonor |
Waiver of Protest |
A waiver of protest, whether in the case of a foreign bill of exchange or other negotiable instrument, is deemed to be a waiver not only of a formal protest, bu… |
Proofed
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46-7-24 |
Ch. 46 — NEGOTIABLE INSTRUMENTS |
Notice of Dishonor |
When Notice is Dispensed With |
Notice of dishonor is dispensed with when, after the exercise of reasonable diligence, it can not be given to or does not reach the parties sought to be charged… |
Proofed
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46-7-25 |
Ch. 46 — NEGOTIABLE INSTRUMENTS |
Notice of Dishonor |
When Delay in Giving Notice Excused |
Delay in giving notice of dishonor is excused when the delay is caused by circumstances beyond the control of the holder, or other person entitled to give notic… |
Proofed
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46-7-26 |
Ch. 46 — NEGOTIABLE INSTRUMENTS |
Notice of Dishonor |
When Notice to Drawer Not Required |
Notice of dishonor is not required to be given to the drawer in either of the following cases:
(a) Where the drawer and the drawee are the same person;
(b) Wh… |
Proofed
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46-7-27 |
Ch. 46 — NEGOTIABLE INSTRUMENTS |
Notice of Dishonor |
When Notice to Indorser Not Required |
Notice of dishonor is not required to be given to an indorser in either of the following cases:
(a) Where the drawee is a fictitious person or a person not hav… |
Proofed
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46-7-28 |
Ch. 46 — NEGOTIABLE INSTRUMENTS |
Notice of Dishonor |
Notice of Nonpayment Where Acceptance Refused |
Where due notice of dishonor by nonacceptance has been given, notice of a subsequent dishonor by nonpayment is not necessary, unless in the meantime the instrum… |
Proofed
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46-7-29 |
Ch. 46 — NEGOTIABLE INSTRUMENTS |
Notice of Dishonor |
Omission to Give Notice of Nonacceptance |
An omission to give notice of dishonor by nonacceptance does not prejudice the rights of a holder in due course subsequent to the omission. |
Proofed
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46-7-30 |
Ch. 46 — NEGOTIABLE INSTRUMENTS |
Notice of Dishonor |
When Protest Need Not be Made; When Must be Made; Certificate of Protest as Evidence |
Where any negotiable instrument has been dishonored it may be protested for nonacceptance, or nonpayment, as the case may be; but protest is not required except… |
Proofed
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46-8-1 |
Ch. 46 — NEGOTIABLE INSTRUMENTS |
Discharge of Negotiable Instruments |
How Instrument Discharged |
A negotiable instrument is discharged:
(a) By payment in due course by or on behalf of the person primarily liable;
(b) By payment in due course by the party … |
Proofed
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46-8-2 |
Ch. 46 — NEGOTIABLE INSTRUMENTS |
Discharge of Negotiable Instruments |
When a Party Discharged |
A party to a negotiable instrument is discharged:
(a) By an act which discharges the instrument;
(b) By the intentional cancellation of his signature by the h… |
Proofed
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46-8-3 |
Ch. 46 — NEGOTIABLE INSTRUMENTS |
Discharge of Negotiable Instruments |
Payment by Party Secondarily Liable; Effect of |
When the instrument is paid by a party secondarily liable thereon, it is not discharged; but the party so paying it is remitted to his former rights as regards … |
Proofed
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46-8-4 |
Ch. 46 — NEGOTIABLE INSTRUMENTS |
Discharge of Negotiable Instruments |
Renunciation by Holder |
The holder may expressly renounce his rights against any party to the instrument before, at, or after its maturity. An absolute and unconditional renunciation o… |
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46-8-5 |
Ch. 46 — NEGOTIABLE INSTRUMENTS |
Discharge of Negotiable Instruments |
Cancellation; Burden of Proof |
A cancellation made unintentionally, or under a mistake, or without the authority of the holder, is inoperative; but where an instrument or any signature thereo… |
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46-8-6 |
Ch. 46 — NEGOTIABLE INSTRUMENTS |
Discharge of Negotiable Instruments |
Alteration of Instrument; Effect of |
Where a negotiable instrument is materially altered by the holder or by some one acting with the authority or consent of the holder, without the assent of all p… |
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46-8-7 |
Ch. 46 — NEGOTIABLE INSTRUMENTS |
Discharge of Negotiable Instruments |
What Constitutes a Material Alteration |
Any alteration which changes:
(a) The date;
(b) The sum payable, either for principal or interest;
(c) The time or place of payment;
(d) The number or the r… |
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46-9-1 |
Ch. 46 — NEGOTIABLE INSTRUMENTS |
Bills of Exchange; Form and Interpretation |
Bill of Exchange Defined |
A bill of exchange is an unconditional order in writing addressed by one person to another, signed by the person giving it, requiring the person to whom it is a… |
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46-9-2 |
Ch. 46 — NEGOTIABLE INSTRUMENTS |
Bills of Exchange; Form and Interpretation |
Bill Not Assignment of Funds in Hands of Drawee |
A bill of itself does not operate as an assignment of the funds in the hands of the drawee available for the payment thereof, and the drawee is not liable on th… |
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46-9-3 |
Ch. 46 — NEGOTIABLE INSTRUMENTS |
Bills of Exchange; Form and Interpretation |
Bill Addressed to More Than One Drawee |
A bill may be addressed to two or more drawees jointly, whether they are partners or not; but not to two or more drawees in the alternative or in succession. |
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46-9-4 |
Ch. 46 — NEGOTIABLE INSTRUMENTS |
Bills of Exchange; Form and Interpretation |
Inland and Foreign Bills of Exchange |
An inland bill of exchange is a bill which is, or on its face purports to be, both drawn and payable within this State. Any other bill is a foreign bill. Unless… |
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46-9-5 |
Ch. 46 — NEGOTIABLE INSTRUMENTS |
Bills of Exchange; Form and Interpretation |
When Bill May be Treated as Promissory Note |
Wherein a bill drawer and drawee are the same person, or where the drawee is a fictitious person, or a person not having capacity to contract, the holder may tr… |
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46-9-6 |
Ch. 46 — NEGOTIABLE INSTRUMENTS |
Bills of Exchange; Form and Interpretation |
Referee in Case of Need |
The drawer of a bill and any indorser may insert thereon the name of a person to whom the holder may resort in case of need, that is to say, in case the bill is… |
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46-10-1 |
Ch. 46 — NEGOTIABLE INSTRUMENTS |
Acceptance |
Acceptance; How Made; Form of |
The acceptance of a bill is the signification by the drawee of his assent to the order of the drawer. The acceptance must be in writing and signed by the drawee… |
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46-10-2 |
Ch. 46 — NEGOTIABLE INSTRUMENTS |
Acceptance |
Written Acceptance on Bill May be Required |
The holder of a bill presenting the same for acceptance may require that the acceptance be written on the bill, and, if such request is refused, may treat the b… |
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46-10-3 |
Ch. 46 — NEGOTIABLE INSTRUMENTS |
Acceptance |
Acceptance by Separate Instrument |
When an acceptance is written on a paper other than the bill itself, it does not bind the acceptor except in favor of a person who, on the faith thereof, receiv… |
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46-10-4 |
Ch. 46 — NEGOTIABLE INSTRUMENTS |
Acceptance |
Promise to Accept; When Equivalent to Acceptance |
An unconditional promise in writing to accept a bill before it is drawn is deemed an actual acceptance in favor of every person who, upon the faith thereof, rec… |
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46-10-5 |
Ch. 46 — NEGOTIABLE INSTRUMENTS |
Acceptance |
Time Allowed Drawee to Accept |
The drawee is allowed twenty-four hours after presentment in which to decide whether or not he will accept the bill; but the acceptance, if given, dates as of t… |
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46-10-6 |
Ch. 46 — NEGOTIABLE INSTRUMENTS |
Acceptance |
Liability of Drawee Retaining or Destroying Bill |
Where a drawee to whom a bill is delivered for acceptance destroys the same, or refuses after the expiration of twenty-four hours after such delivery or such lo… |
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46-10-7 |
Ch. 46 — NEGOTIABLE INSTRUMENTS |
Acceptance |
Acceptance of Bill Incomplete, Overdue, or Dishonored |
A bill may be accepted before it has been signed by the drawer, or while otherwise incomplete, or when it is overdue, or after it has been dishonored by previou… |
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