also be made within reasonable hours. Thus, presentment to a banker must be before banking hours, and presentment

to a tradesman any time during the day or evening (a).

The presentment should be made at the place of business At what place. or of residence of the drawee, without regard to the place where the bill or note is made payable. If the drawee cannot be found at his usual residence, the holder may consider him as absconded, but if he has only changed place, the holder must make due diligence to find him out (b). The party may have the whole day to view the bill, and deliberate to accept it

or not.

FOREIGN LAWS.

France. The holder of a bill of exchange drawn from the Time allowed for presentcontinent and European islands and payable in the European ment. possessions of France either at sight or at one or several days or months, or usances of sight, must demand payment or acceptance within six months of its date, under penalty of losing his rights against the indorsers, and even against the drawer if the latter has made due provision. Bills of exchange drawn from the ports of the Levant and Northern Coasts of Africa upon the European possessions of France, and reciprocally from the continent and European islands upon the French establishments in the ports of the Levant and the Northern Coasts of Africa, must be presented within eight months of their date. Bills of exchange drawn from the Western Coast of Africa, up to and including the Cape of Good Hope, must be presented within one year. It is also one year for bills of exchange drawn from the continent and from the islands of the West Indies upon the European possessions of France, and reciprocally from the continent and European islands on the French possessions and French establishments in the West Coast of Africa, in the continent and islands of the West Indies. Bills of exchange drawn from the continent and islands of the East Indies on the European possessions of France, and reciprocally from the con

in putting the bill into circulation, which is for the interest of the holder, is to be allowed; and the bill need not be sent for acceptance by the very earliest opportunity, though it must be sent without improper delay. B. Parke in

Radkessen v. Mullick, 9 Moore, C. L. 67.

(a) Barclay v. Bailey, 2 Camp. 517; Parker . Gordon, 7 East, 385; Elford v. Teed, 1 M. & S. 28.

(b) Collins v. Butler, 2 Str. 1037; Bateman v. Joseph, 12 East, 432.

Presentation for acceptance of bills on deniand.

Duty of agent

to present bills payable on a day certain.

tinent and European islands upon the French possessions or French establishments on the continent and islands of the East Indies, must be presented within two years. The same forfeiture of rights would arise where the holder of a bill of exchange at sight, at one or several days, months, or usances of sight, drawn from France, from French possessions and establishments, and payable in foreign countries, does not demand the payment or acceptance within the time above specified for each of the respective distances. The above delays of eight months, one year, and two years are doubled in time of maritime war. These regulations do not prejudice any contrary stipulation which may exist between the holder, the drawer, and the indorsers.

A special regulation adopted by French Guiana, by Ordinances of the Governor, of the 1st October, 1820, decides that as regards bills of exchange drawn from French Guiana upon another place of the same colony, the holder must require the acceptance within three months. And the time is extended to six months for bills drawn from the islands above wind; to one year for those drawn from islands under wind, North America and Europe; to three years for those drawn from the West Indies on French Guiana (a).

United States.-There is no precise time fixed by law in which bills payable at sight, or a certain number of days after sight, must be presented to the drawer for acceptance, though there must not be any unreasonable delay, for that might discharge the drawer and indorser. A bill payable on a day certain after date, or on demand, need not be presented for acceptance before the day of payment or demand, and if not presented previously for acceptance, the right to require acceptance becomes merged in the right to demand payment; but if presented before it becomes due, and acceptance be refused, it is dishonoured, and notice must then be given forthwith to the parties whom it is intended to charge. There is a distinction between the owner of the bill and his agent. Though the owner is not bound to present the bill payable at a day certain for acceptance before the day, the agent employed to collect the bill or to get it accepted and paid, or accepted, must act with due diligence to have the bill accepted as well as paid. He has not the discre

(a) French Code of Commerce, § 160.

tion or latitude of time given to the owner, and for any unreasonable delay on his part he would be held responsible for all damages which the owner may have sustained by reason thereof (a). A bill payable at sight, or at so many days after sight, as well as a bill payable on demand, must be presented in a reasonable time, or the holder will have to bear the loss proceeding from his default (b).

Germany. The holder of a bill of exchange is entitled Presentment of bills payforthwith to present it for acceptance, and if acceptance is re- able at fairs. fused, to have the bill protested. Bills of exchange payable at fairs are alone exempted from such a formality. Such bills can only be presented and protested at the times fixed by the regulations in force when the fair is held. The mere possession of a bill entitles the holder to present it for acceptance, and to protest it for non-acceptance. The holder is bound to present the bill for acceptance when the bill is drawn at a certain time after sight; a bill so drawn must, under penalty of losing all right of recourse against the drawer and indorser, be presented for acceptance within the period specified therein, and if no period be mentioned, within two years after the date. If an indorsement specifies that the bill must be presented for acceptance within a specified time, the indorser is discharged of all obligation if the bill is not presented within such a period. When the acceptance of a bill payable at a certain time after sight is refused, or if the drawee refuses to date his acceptance, the holder must, under penalty of losing his recourse against the indorser and the drawer, get the bill protested for non-acceptance. The day of the protest serves in such a case for the day of presentation. If no protest has been made, and the acceptor has omitted to date his acceptance, the time of payment will be calculated from the last day of the time allowed for presentation (c).

Denmark. The holder of a bill payable at a certain time after date must send it for acceptance in good time to have it presented before it becomes due. A bill payable at sight, or at a certain time after sight, must be presented within three months from its date if the bill is drawn from a place

(a) Allen v. Suydam, 17 Wendell, 368; The Bank of Scotland v. Hamilton, Bell's Com. vol. i. p. 409, note. (b) Kent's Commentaries, vol. iii. p.

VOL. I.

101, 9th Ed.

(c) German Law on Bills of Exchange, 17-19.

D D

Time allowed for presentment for acceptance.

of the kingdom, and within six months if it be drawn from a foreign country. Bills drawn from Iceland or the Feroe Islands, and those drawn upon these countries from places out of Europe, must be presented within the year. Bills drawn from the kingdom on the East Indies, or from the East Indies on Denmark, must be presented within two years. The presentation for acceptance cannot be made on Sundays or holidays, and if the time for presentation expired on such a day it would be extended to the first working day.

Italy.-Bills of exchange drawn from and in any inland place, either at sight, or at one or more days, or months, or usances of sight, must be presented within three months of their date. The time is extended to six months if the bill is drawn from foreign States of the continent or islands of Europe upon the kingdom; to eight months for bills drawn from ports in the Levant, and Northern coast of Africa; to one year for bills drawn from the West coast of Africa, up to and including the Cape of Good Hope, as well as for those drawn from the continent and islands of the West Indies; and to two years for bills drawn from the continent and islands of the East Indies. The same time is allowed for bills drawn from the interior of the kingdom, and payable in the above countries. The time is doubled in case of maritime war (a).

Netherlands.-Bills of exchange payable at a certain time after sight must be presented for acceptance. The presentation for acceptance is also required when the condition is imposed by the drawer, but it is optional for bills payable at a certain time after date. The holder of a bill drawn upon any place of the kingdom of the Netherlands must present it for payment, if payable at sight, or for acceptance if payable at a certain time after sight, within the time hereafter expressed from the date of the bill, under penalty of losing his recourse against the indorser, and the drawer if the latter proves that he has made provision with the drawee. The time specified is as follows:-Six months for bills drawn from the continent and islands of Europe; eight months for bills drawn from ports in the Levant and northern coasts of Africa; one year for bills drawn from the west coasts of Africa, up to and including the Cape of Good Hope, as well

(a) Sardinian Code, § 174.

as from the continent of North and South America (with the exception of the portion designated hereafter), and from the islands of the West Indies; two years for bills drawn from the coasts of South and North America situated in the Pacific Sea and beyond Cape Horn and the islands of that sea, as well as from the continent of Asia and the islands of the East Indies. Such times are doubled, in cases of maritime war, as regards bills drawn from the European islands and places above mentioned, with the exception of bills drawn from the continent. The above regulations are applicable reciprocally to bills of exchange drawn at sight or at a certain time after sight from the kingdom of the Netherlands, or the places above designated. The time for the presentation of bills drawn from and on any place in the interior is three months. If by any accident the bill sent for acceptance before the end of the time granted for presentation does not arrive in time, it must be presented for acceptance the day after its arrival, if the holder resides in the same place as the drawee. The presentation must take place within eight days of its reception, if the drawee is domiciled in another place (a).

Norway. Every bill of exchange payable at a certain time. after date, must be presented for acceptance in good time. When it is payable at sight, or at a certain time after sight, the bill must be presented sufficiently early so that the payment may be made within six months from the date of the bill, if it is payable in Europe; and within one year of its date if it is payable in other parts of the world. If the bill has not been presented within the times specified by law, the holder must stand as a simple mandatory of the drawer (b).

Portugal. The holder of a bill of exchange drawn from the continent, the European Islands of Azores and Madeira, and payable in the kingdom of Portugal either at sight, or at a certain time after sight, must demand acceptance or payment within three months of its date. The time is extended to six months for bills drawn beyond the Cape of Good Hope, from the continent of South America and North America, and to one year for those drawn beyond the Cape of Good Hope and Cape Horn. The time is doubled in time of maritime war. Bills

(a) Dutch Code of Commerce, §

116.

(b) Norway Regulations of 1681, and Law of 1842.