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The rate of legal interest is fixed by law at six per cent. yearly.
The rate of conventional interest may be fixed by agreement between the parties, with the exception:
1. Of certain corporations mentioned in the law respecting interest, which cannot receive more than the rate per cent. therein mentioned ;
2. Of certain other corporations, which are limited as to the rate of interest by special acts;
3. Of banks, which are not subject to any penalties for usury, but which cannot recover more than seven per cent.” C. C., 1785 ; R. S. C., cc. 120 and 127.
AMENDMENTS TO TITLE ELEVENTH OF BOOK THIRD.
6241. Article 1888 should read as follows:
“ 1888. Partnerships for the business of banking are regulated by special acts of incorporation, and by the Federal act respecting banks and banking." C. C., 1888; R. S. C., c. 120.
AMENDMENTS TO TITLE SIXTEENTH OF BOOK THIRD.
6242. Article 1971 should read as follows:
“1971. Saving pawnbrokers, no creditor can, in default of payment of the debt, dispose of the thing given in pawn. He may cause it to be seized and sold in the usual course of law under the authority of a competent court and obtain payment by preference out of the proceeds. This provision, however, does not apply to timber which is pledged under the provisions of the act 29 Victoria, chapter 19, nor to banks as regards goods and merchandise given in security, under the provisions of the law respecting banks and banking.
The creditor may also stipulate that in default of payment he shall be entitled to retain the thing." C.C., 1971; 41 V., Q., c. 3, s. 141; R. S. C., cc. 120 and 128.
6243. Article 1979 should read as follows:
"1979. The special rules relating to the trade of pawnbroking are contained in the laws respecting pawnbrokers and pawnbroking.
The Federal acts respecting banks and banking, in so
far as banks are concerned, and chapter 54 of the Consolidated Statutes of Canada, as respects private persons, contain special provisions for the transfer by endorsement of bills of lading, specifications of timber and receipts by warehousemen, millers, wharfingers, masters of vessels or carriers, to incorporated banks or to private persons, as collateral security, and for the sale of the merchandise and effects represented by such instruments.” C. C., 1979; 41 V., Q., c. 3, s. 141 ; R. S. C., cc. 120 and 128.
AMENDMENTS TO TITLE SEVENTEENTH OF BOOK THIRD,
Of Privileges and Hypothecs.
6241. Article 1991 should read as follows:
“ 1991. The rule as regards the creditors of a partnership and those of the partners individually is declared in article 1898.” C. C., 1991 ; 43 V., C., c. 1 ; 19 V., C., c. 4, s. 5, schedule A.
AMENDMENTS TO TITLE FIRST OF BOOK FOURTH.
Of Bills of Ecchange.
6245. Article 2280 should read as follows:
“ 2280. It is essential to a bill of exchange that it be in writing and contain the signature or name of the drawer;
That it be for the payment of a specific sum of money only:
That it be payable at all events, without any conditions.
The words“ given for a patent right” must be written or printed prominently and legibly across the face of a bill of exchange before the same is issued, when the consideration consists in whole or in part of the purchase money of a patent right or of a partial interest, limites territorially or otherwise, in a patent right." C. C., 2280; R. S. C., c. 123, s. 12.
6246. Article 2287 should read as follows :
“ 2287. The transfer of a bill by endorsement may be made either before or after it becomes due.
In the former case, the holder acquires a perfect title free from all liabilities and objections which any parties may have against it in the hands of the endorser.
In the latter case, the, bill is subject to such liabilities and objections in the same manner as if it were in the hands of the previous holder.
However, the endorser or other transferee of any bill of exchange given, in whole or in part, for a patent right upon which are the words mentioned in the last paragraph of article 2280, takes the same subject to any defence or exception which could have been urged with respect to it between the original parties.” C. C., 2287 ; R. S. C., c. 123, s. 13.
6247. The following article should be added after article 2306 :
2306a. Every bill of exchange, which is made payable at a month or months after the date thereof, becomes due and payable on the day corresponding to that date in the month it becomes due, unless there is no such dar in such month, in which case it becomes due on the last day of such month; and the days of grace allowed by law are in all cases added to the delay.” R. S. C., c. 123,
6248. The following article should be added after article
“ 2328a. The notice may also be given to the party entitled thereto, by addressing it to him, in due time, at the place at which the bill of exchange is dated, unless the party has, under his signature upon the bill, designated another place; and in such case the notice may be given to him at the place so designated.
The notice so addressed is sufficient although the domicile of the party be other than either of such before mentioned places." R. S. C., c. 123, s. 5.
6249. Article 2334 should read as follows :
2334. Banks in this Province discounting bills of exchange may receive, for defraying the expenses attending their collection, a commission on the annount according to the rates and in the manner prescribed in the law respecting banks and banking:” C. C., 2334 ; R. S. C., C. 120, Ss. 63 and 64.
6250. Article 2336 should read as follows:
“ 2336. Bills of exchange, drawn, sold or negotiated within the Province of Quebec upon any person outside of Canada and the Island of Newfoundland, which are returned under protest for non-payment, are subject to two and one-half per cent. damages.
When drawn upon any person in Canada or in the Island of Newfoundland, they are not subject to any damages.
In both cases, interest is exigible from the date of the protest.” C. C., 2336; R. S. C., c. 123, s. 6.
6251. Article 2340 should read as follows :
“ 23-40. In all matters relating to bills of exchange not provided for in this Code or in the Federal laws, recourse must be had to the laws of England in force on the thirtieth day of May, one thousand eight hundred and forty-nine. C. C., 2340 ; B. N. A., Act, 1867, ss. 91 and 92.
6252. The following article should be added after article 2343:
2343a. In all matters relating to bills of exchange, the following are non-juridical days, that is to say:
Sundays, New Year's Day, Epiphany, Good Friday, Easter Monday, Annunciation, Ascension, Corpus Christi, St. Peter and St. Paul's day, All-Saints, Conception and Christmas Day;
The anniversary of the birth of the reigning Sovereign or the day fixed by proclamation for its celebration ;
The first day of July (Dominion Day), and if that day is a Sunday, then the second day of July ;
Any day appointed by proclamation for a public holiday or a general fast or a general thanksgiving throughout Canada; and the day next following New Year's Day and Christmas Day when those days respectively fall on Sundays:
And also any day appointed by proclamation of the Lieutenant-Governor of this Province for a public holiday, or for a fast or thanksgiving within the Province.” R. S.C., c. 123, s. 3.
6253. Article 2348 should read as follows :
2348. The making, circulation and payment of bank notes are regulated by the provisions of the Federal laws respecting banks and banking, and by the special acts of incorporation of the banks respectively.” C. C., 2348 ; R. S. C., c. 120.
AMENDMENTS TO TITLE SECOND OF BOOK FOURTH.
Of Merchant Shipping.
6251. Article 2355 should read as follows:
“2355. Subject to the provisions of the following paragraph, the law of the Imperial parliament, respecting merchant shipping, contains provisions concerning British ships in the Province of Quebec, in all matters to which such provisions extend and are applicable therein.
The following Federal laws contain provisions concerning ships, in all matters regulated by such laws :
1. The law respecting the registration and classification of shipping ;
2. The law respecting the shipping of seamen ;
3. The law respecting the shipping of seamen on inland waters;
4. The law respecting wrecks, casualties and salvage ;
5. The law respecting the safety of ships and the prevention of accidents on board thereof;
6. The law respecting the navigation of Canadian waters; 7. The law respecting the liability of carriers by water;
8. The law respecting the coasting trade of Canada. C. C., 2355 ; R. S. C., cc. 72, 74, 75, 77, 79, 81, 82 and 83.
6255. Article 2356 should read as follows:
2356. The registration of British ships, when necessary, is effected in the manner and according to the rules and forms prescribed in the laws for that purpose mentioned in the preceding article.” C. C., 2356 ; R. S. C., c. 72.
6256. Article 2357 and 2358, repealed by the federal law re
specting the registration and classification of ships, should be replaced by the following:
“2357. Every ship, propelled either wholly or in part by steam whatever her tonnage, as well as every ship not propelled wholly or in part by steam, of more than ten tons burthen, and having a whole or fixed deck, although otherwise by law deemed to be a British ship, shall, to be recognized as a British ship and to be admitted to the privileges of a British ship in Canada, be registered in the manner and according to the formalities prescribed in the Federal law respecting the registration and classification of ships.
2. The owner of a vessel, not being a ship within the meaning of the preceding paragraph, must obtain a license from the officer authorized to grant the same ; the whole in the manner and under the conditions prescribed in the above mentioned Federal act. R. S. C., c. 72, ss. 5 and 25.
2358. The special rules concerning the measurement of vessels of the description mentioned in the preceding article, concerning builder's certificates, change of masters and change in the name of such vessels, certificates of registration and endorsement thereof, permits and those concerning the powers and duties of collectors and other officers in relation thereto are contained in the Federal act aboved referred to." R. S. C., c 72.
6257. Article 2359 should read as follows:
“ 2359. The transfer of registered British ships can be made only by a bill of sale, executed in the presence of one or more witnesses containing the recital specified in