Additional provisions as affecting negotiability 322 Effect of omissions; seal; designation of particular money 323 When lien on instrument constitutes holder for value 343 344 How blank indorsement changed to special indorsement . Effect of restrictive indorsement; right of indorsee 346 347 348 349 350 351 352 353 354 355 Conditional indorsement Indorsement of instrument payable to bearer Indorsement of instrument payable to two or more persons Effect of instrument drawn or indorsed to a person as cashier Indorsement, where payee's name misspelled Indorsement in representative capacity Presumption as to time of indorsement Presumption as to place of indorsement Section 356 357 358 359 360 361 362 363 364 365 366 367 When prior party may negotiate instrument ART. 5. RIGHTS OF HOLDER. Right of holder to sue; payment. What constitutes holder in due course When person not deemed holder in due course 368 369 370 371 Liability of indorser, where paper negotiable by delivery 384 385 Liability of agent or broker. 386 ART. 7. PRESENTMENT FOR PAYMENT. Effect of want of demand on principal debtor. When instrument dishonored by nonpayment Liability of persons secondarily liable when instrument dishonored When days of grace allowed 400 401 402 403 404 405 406 ART. 8. NOTICE OF DISHONOR. To whom notice of dishonor must be given By whom notice given Notice given by agent Effect of notice given on behalf of holder Effect, where notice is given by party entitled thereto Section 407 408 409 410 411 412 413 414 415 416 417 418 419 420 421 422 423 424 425 426 427 428 429 When protest need not be made; when it must be made Bill not an assignment of funds in hands of drawee. Failure to present in reasonable time discharges drawer and indorsers 462 463 Where protest made 471 472 473 474 Protest both for nonacceptance and nonpayment 475 476 477 Protest where bill is lost 478 Effect on subsequent parties, where bill is paid for honor 493 494 495 ART. 16. BILLS IN A SET. Bills in a set constitute one bill . Rights of holders, where different parts are negotiated Liability of holder who indorses two or more parts of a set to different 496 497 498 499 500 501 Effect, where holder of check procures it to be certified 506 507 ART. 1. GENERAL PROVISIONS. 312. Definitions. In this chapter, unless the context otherwise requires "Acceptance" means an acceptance completed by delivery or notification. "Action" includes counterclaim and setoff. "Bank" includes any person or association of persons carrying on the business of banking, whether incorporated or not. "Bearer" means the person in possession of a bill or note which is payable to bearer. Steinhilper et al v. Basnight, 153 N. C. 293, 69 S. E. 220. Mayers v. McRimmon et al, 140 N. C. 640, 53 S. E. 447. "Bill" means bill of exchange, and "note" means negotiable promissory note. "Delivery" means transfer of possession, actual or constructive, from one person to another. "Holder" means the payee or indorsee of a bill or note who is in possession of it, or the bearer thereof. Steinhilper et al v. Basnight, 153 N. C. 293, 69 S. E. 220. "Indorsement" means an indorsement completed by delivery. "Instrument" means negotiable instrument. "Issue" means the first delivery of the instrument, complete in form, to a person who takes it as a holder. "Person" includes a body of persons, whether incorporated or not. "Value" means valuable consideration. "Written" includes printed, and "writing" includes print. C. S., s. 2976; Rev., s. 2340; 1899, c. 733, s. 191. 313. Person primarily liable on instrument. The person primarily liable on an instrument is the person who by the terms of the instrument is absolutely required to pay the same. All other parties are secondarily liable. C. S., s. 2977; Rev., s. 2342; 1899, c. 733, s. 192. Principal and Surety § 65. Both the principal and surety, if the fact of |