§ 3254. § 3256. Declaration before payment for honor. $3255. Preference of parties offering to pay for honor. § 3252. Payment for honor. Where a bill has been protested for nonpayment, any person may intervene and pay it supra protest for the honor of any person liable thereon or for the honor of the person for whose account it was drawn. See note to § 3082. § 3253. Payment for honor, how made. The payment for honor supra protest in order to operate as such and not as a mere voluntary payment must be attested by a notarial act of honor which may be appended to the protest or form an extension to it. See note to § 3082. § 3254. Declaration. The notarial act of honor must be founded on a declaration made by the payer for honor or by his agent in that behalf declaring his intention to pay the bill for honor and for whose honor he pays. See note to § 3082. § 3255. Preference of parties. Where two or more persons offer to pay a bill for the honor of different parties, the person whose payment will discharge most parties to the bill is to be given the preference. See note to § 3082. § 3256. Subsequent parties discharged. Where a bill has been paid for honor, all parties subsequent to the party for whose honor it is paid are discharged, but the payer for honor is subrogated for, and succeeds to, both the rights and duties of the holder as regards the party for whose honor he pays and all parties liable to the latter. See note to § 3082. § 3257. Right of recourse lost. Where the holder of a bill refuses to receive payment supra protest, he loses his right of recourse against any party who would have been discharged by such payment. See note to § 3082. § 3258. Right of payer for honor. The payer for honor, on paying to the holder the amount of the bill and the notarial expenses incidental to its dishonor, is entitled to receive both the bill itself and the protest. See note to § 3082. ARTICLE VII. Bills in a Set. $3259. Bills in sets constitute one bill. $3260. Right of holders where different parts are negotiated. $3261. Liability of holder who indorses two or more parts of a set to different persons. $3262. Acceptance of bills drawn in sets. $3263. Payment by acceptor of bills drawn in sets. $3264. Effect of discharging one of a set. § 3259. Bills in sets one bill. Where a bill is drawn in a set, each part of the set being numbered and containing a reference to the other parts, the whole of the parts constitutes one bill. See note to § 3082. § 3260. Where different parts are negotiated. Where two or more parts of a set are negotiated to different holders in due course, the holder whose title first accrues is as between such holders the true owner of the bill. But nothing in this section affects the rights of a person who in due course accepts or pays the part first presented to him. See note to § 3082. § 3261. Liability of holder. Where the holder of a set indorses two or more parts to different persons he is liable on every such part, and every indorser subsequent to him is liable on the part he has himself indorsed, as if such parts were separate bills. See note to § 3082. § 3262. Acceptance. The acceptance may be written on any part and it must be written on one part only. If the drawee accepts more than one part, and such accepted parts are negotiated to different holders in due course, he is liable on every such part as if it were a separate bill. See note to § 3082. §3263. Payment by acceptor. When the acceptor of a bill drawn in a set pays it without requiring the part being his acceptance to be delivered up to him, and that part at maturity is outstanding in the hands of a holder in due course, he is liable to the holder thereon. See note to § 3082. § 3264. Whole bill discharged. Except as herein otherwise provided where any one part of a bill drawn in a set is discharged by payment or otherwise the whole bill is discharged. See note to § 3082. CHAPTER III. Promissory Notes and Checks. ARTICLE I. § 3265. Promissory note defined. § 3265a. Check defined. § 3265b. Within what time a check must be presented. § 3265c. Certification of check; effect of. § 3265d. Effect where the holder of check procures it to be certified. §3265e. When check operates as an assignment. § 3265. Promissory note defined. A negotiable promissory note within the meaning of this title is an unconditional promise in writing made by one person to another signed by the maker engaging to pay on demand, or at a fixed or determinable future time, a sum certain in money to order or to bearer. Where a note is drawn to the maker's own order, it is not complete until indorsed by him. See note to § 3082. § 3265a. Check defined. A check is a bill of exchange drawn on a bank payable on demand. Except as herein otherwise provided, the provisions of this title applicable to a bill of exchange payable on demand apply to a check. See note to § 3082. § 3265b. Time for presenting check. A check must be presented for payment within a reasonable time after its issue or the drawer will be discharged from liability thereon to the extent of the loss caused by the delay. See note to § 3082. § 3265c. Certified check. Where a check is certified by the bank on which it is drawn, the certification is equivalent to an acceptance. See note to § 3082. §3265d. Effect of acceptance or certification. Where the holder of a check procures it to be accepted or certified the drawer and all indorsers are discharged from liability thereon. See note to § 3082. §3265e. When check operates as assignment. A check of itself does not operate as an assignment of any part of the funds to the credit of the drawer with the bank, and the bank is not liable to the holder, unless and until it accepts or certifies the check. See note to § 3082. CHAPTER IV. General Provisions. ARTICLE I. $3266. Definitions and meaning of terms. § 3266a. Person primarily liable on instrument. §3266b. Reasonable time, what constitutes. $3266c. Time, how computed, when last day falls on holiday. §3266. Definitions. In this title, 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. "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. "Indorsement" means an indorsement completed by de livery. "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. See note to § 3082. § 3266a. 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. See note to § 3082. § 3266b. Reasonable time, what constitutes: In determining what is a "reasonable time" or an "unreasonable time,' regard is to be had to the nature of the instrument, the usage of trade or business (if any) with respect to such instruments, and the facts of the particular case. See note to § 3082. § 3266c. Time, how computed when last day falls on holiday. Where the day, or the last day, for doing any act herein required or permitted to be done falls on Sunday or on a holiday, the act may be done on the next succeeding secular or business day. See note to § 3082. § 3266d. Application of act. The provisions of this title do not apply to negotiable instruments made and delivered prior to the taking effect hereof. In any case not provided for in this title the rules of law and equity including the law-merchant shall govern. See note to § 3082. § 3320. Liability for nonpayment of check. No bank shall be liable to a depositor because of the nonpayment through mistake or error, and without malice, of a check which should have been paid unless the depositor shall allege and prove actual damage by reason of such nonpayment and in such event the liability shall not exceed the amount of damage so proved. [New section added May 17, 1917; Stats. 1917, p. 622.] § 3423. When injunction may not be granted. An injunction cannot be granted: First-To stay a judicial proceeding pending at the commencement of the action in which the injunction is demanded, unless such restraint is necessary to prevent a multiplicity of such proceedings. Second-To stay proceedings in a court of the United States. Third-To stay proceedings in another state upon a judg ment of a court of that state. |