784

Liability of
acceptor for
honour.

Presentment
to acceptor
for honour.

Payment for
honour
supra
protest.

Ch. 31. No. 5.) Bills of Exchange.

(4) Where an acceptance for honour does not expressly
state for whose honour it is made, it is deemed to be an
acceptance for the honour of the drawer.

(5) Where a bill payable after sight is accepted for
honour, its maturity is calculated from the date of the
noting for non-acceptance, and not from the date of the
acceptance for honour.

66. (1) The acceptor for honour of a bill by accepting it
engages that he will, on due presentment, pay the bill
according to the tenor of his acceptance, if it is not paid
by the drawee, provided it has been duly presented for
payment, and protested for non-payment, and that he
Teceives notice of these facts.

(2) The acceptor for honour is liable to the holder and
to all parties to the bill subsequent to the party for whose
honour he has accepted.

67. (1) Where a dishonoured bill has been accepted for
honour supra protest, or contains a reference in case of need,
it must be protested for non-payment before it is presented
for payment to the acceptor for honour or referee 1n case of
need.

(2) Where the address of the acceptor for honour is
in the same place where the bill is protested for non-
payment, the bill must be presented to him not later than
the day following its maturity; and where the address of the
acceptor for honour is in some place other than the place
where it was protested for non-payment, the bill must be
forwarded not later than the day following its maturity for
presentment to him.

(3) Delay in presentment or non-presentment is
*xcused by any circumstance which would excuse delay
in presentment for payment or non-presentment for payment.

(+) When a bill of exchange is dishonoured by the

acceptor for honour, it must be protested for non-payment
by him.

68. (1) Where a bill has been protested for non-payment,
any person may intervene and pay it suprd protest for the