one has authority to accept or refuse acceptance for all, in which case presentment may be made to him only; (2) Where the drawee is dead, presentment may be made to his personal representative; (3) Where the drawee has been adjudged a bankrupt or an insolvent or has made an assignment for the benefit of creditors, presentment may be made to him or to his trustee or assignee. See note to § 3082. § 3227. On what days presentment may be made. A bill may be presented for acceptance on any day on which negotiable instruments may be presented for payment under the provisions of sections three thousand one hundred fifty-four and three thousand one hundred sixty-seven. When Saturday is not otherwise a holiday, presentment for acceptance may be made before twelve o'clock, noon, on that day. See note to § 3082. $3228. Presentment where time is insufficient. Where the holder of a bill drawn payable elsewhere than at the place of business or the residence of the drawee has not time with the exercise of reasonable diligence to present the bill for acceptance before presenting it for payment on the day that it falls due, the delay caused by presenting the bill for acceptance before presenting it for payment is excused and does not discharge the drawers and indorsers. See note to § 3082. § 3229. When presentment is excused. Presentment for acceptance is excused and a bill may be treated as dishonored by nonacceptance, in either of the following cases: (1) Where the drawee is dead, or has absconded, or is a fictitious person or a person not having capacity to contract by bill; (2) Where, after the exercise of reasonable diligence, presentment cannot be made; (3) Where, although presentment has been irregular, acceptance has been refused on some other ground. See note to § 3082. § 3230. Bill dishonored by nonacceptance. A bill is dishon ored by nonacceptance (1) When it is duly presented for acceptance and such an, acceptance as is prescribed by this title is refused or cannot be obtained; or (2) When presentment for acceptance is excused and the bill is not accepted. See note to § 3082. § 3231. Duty of holder where not accepted. Where a bill is duly presented for acceptance and is not accepted within the prescribed time the person presenting it must treat the bill as dishonored by nonacceptance or he loses the right of recourse against the drawer and indorsers. See note to § 3082. § 3232. Rights of holder where bill not accepted. When a bill is dishonored by nonacceptance, an immediate right of recourse against the drawers and indorsers accrues to the holder and no presentment for payment is necessary. § 3237. Protest; where made. 3238. § 3239. § 3240. Protest both for nonacceptance and nonpayment. § 3241. Protest where bill is lost, etc. § 3233. In what cases protest necessary. Where a foreign bill appearing on its face to be such is dishonored by nonacceptance, it must be duly protested for nonacceptance, and where such a bill which has not previously been dishonored by nonacceptance is dishonored by nonpayment, it must be duly protested for nonpayment. If it is not so protested, the drawer and indorsers are discharged. Where a bill does not appear on its face to be a foreign bill, protest thereof in case of dishonor is unnecessary. See note to § 3082. § 3234. How made. The protest must be annexed to the bill, or must contain a copy thereof and must be under the hand and seal of the notary making it, and must specify(1) The time and place of presentment; (2) The fact that presentment was made and the manner thereof; (3) The cause or reason for protesting the bill; (4) The demand made and the answer given, if any, or the fact that the drawee or acceptor could not be found. See note to § 3082. §3235. By whom made. Protest may be made by-(1) A notary public; or (2) By any respectable resident of the place where the bill is dishonored, in the presence of two or more credible wit nesses. See note to § 3082. §3236. When made. When a bill is protested, such protest must be made on the day of its dishonor, unless delay is excused as herein provided. When a bill has been duly noted, the protest may be subsequently extended as of the date of the noting. See note to § 3082. § 3237. Where made. A bill must be protested at the place where it is dishonored, except that when a bill drawn payable at the place of business, or residence of some person other than the drawee, has been dishonored by nonacceptance, it must be protested for nonpayment at the place where it is expressed to be payable, and no further presentment for payment to, or demand on, the drawee is necessary. See note to § 3082. § 3238. Protest both for nonacceptance and nonpayment. A bill which has been protested for nonacceptance may be subsequently protested for nonpayment. See note to § 3082. §3239. Protest before maturity. Where the acceptor has been adjudged a bankrupt or an insolvent, or has made an assignment for the benefit of creditors, before the bill matures, the holder may cause the bill to be protested for better security against the drawer and indorsers. See note to § 3082. § 3240. When dispensed with. Protest is dispensed with by any circumstances which would dispense with notice of dishonor. Delay in noting or protesting is excused when delay is caused by circumstances beyond the control of the holder and not imputable to his default, misconduct or negligence. When the cause of delay ceases to operate, the bill must be noted or protested with reasonable diligence. See note to § 3082. § 3241. When bill lost, etc. When a bill is lost or destroyed or is wrongly detained from the person entitled to hold it, protest may be made on a copy or written particulars thereof. See note to § 3082. § 3244. § 3245. § 3246. 3247. § 3248. §3249. § 3250. § 3251. When deemed to be an acceptance for honor of the drawer. Agreement of acceptor for honor. Maturity of hill payable after sight; accepted for honor, etc. Presentment for payment to acceptor for honor; how made. § 3242. Acceptance for honor. Where a bill of exchange has been protested for dishonor by nonacceptance or protested for better security, and is not overdue, any person not being a party already liable thereon may, with the consent of the holder, intervene and accept the bill supra protest for the honor of any party liable thereon, or for the honor of the person for whose account the bill is drawn. The acceptance for honor may be for the part only of the sum for which the bill is drawn; and where there has been an acceptance for honor for one party, there may be a further acceptance by a different person for the honor of another party. See note to § 3082. § 3243. How made. An acceptance for honor supra protest must be in writing, and indicate that it is an acceptance for honor, and must be signed by the acceptor for honor. See note to § 3082. § 3244. What deemed to be an acceptance for honor of the drawer. Where an acceptance for honor does not expressly state for whose honor it is made, it is deemed to be an acceptance for the honor of the drawer. See note to § 3082. § 3245. Liability of acceptor. The acceptor for honor is liable to the holder and to all parties to the bill subsequent to the party for whose honor he has accepted. See note to § 3082. § 3246. Agreement of acceptor for honor. The acceptor for honor, by such acceptance engages that he will on due presentment pay the bill according to the terms of his acceptance; provided, it shall not have been paid by the drawee; and provided, also, that it shall have been duly presented for payment and protested for nonpayment and notice of dishonor given him. See note to § 3082. § 3247. Bill payable after sight. Where a bill payable after sight is accepted for honor, its maturity is calculated from the date of the noting for nonacceptance and not from the date of the acceptance for honor. See note to § 3082. § 3248. Protest. Where a dishonored bill has been accepted for honor supra protest or contains a reference in case of need, it must be protested for nonpayment before it is presented for payment to the acceptor for honor or referee in case of need. See note to § 3082. § 3249. Presentment to acceptor. Presentment for payment to the acceptor for honor must be made as follows: (1) If it is to be presented in the place where the protest for nonpayment was made, it must be presented not later than the day following its maturity. (2) If it is to be presented in some other place than the place where it was protested, then it must be forwarded within the time specified in section three thousand one hundred eighty-six. See note to § 3082. § 3250. When delay in making presentment is excused. The provisions of section three thousand one hundred sixtythree apply where there is delay in making presentment to the acceptor for honor or referee in case of need. See note to § 3082. § 3251. Dishonor of bill by acceptor for honor. When the bill is dishonored by the acceptor for honor it must be protested for nonpayment by him. |