Presentment
of note for
pavment.

Liability of
maker.

Application
of Part 1. to
notes.

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

(2) In determining what is a reasonable time, regard
shall be had to the nature of the instrument, the usage of
trade, and the facts of the particular case.

(3) Where a note payable on demand is negotiated,
it is not deemed to be overdue, for the purpose of affecting
the holder with defects of title of which he had no notice,
by reason that it appears that a reasonable time for pre-
senting if for payment has clapsed since its issue.

87. (1) Where a promissory note is in the body of it
mate payable at a particular place, it must be presented
for payment at that place in order to render the maker
liable. In any other case, presentment for payment is not
necessary in order to render the maker liable.

(2) Presentment for payment is necessary in order to
render the indorser of a note hable.

(3) Where a note is in the body of it made payable at
a particular place, presentment at that place is necessary
in order to render an indorser Hable; but when a place of
payment is indicated by way of memorandum only, pre-
sentment at that place is sufficient to render the indorser
liable, but a presentment to the maker elsewhere, if
sufficient in other respects, shall also suffice.

88. The maker of a promissory note by making it—
(a) engages that he will pay it according to its tenor;
(b) is precluded from denying to a holder in due
course the existence of the payee and his then capacity
to indorse.

89. (1) Subject to the provisions in this Part, and except
as by this section provided, the provisions of this Ordi-
nance relating to bills of exchange apply, with the necessary
modifications, to promissory notes,

(2) In applying those provisions, the maker of a note
shall be deemed to correspond with the acceptor of a bill,
and the first indorser of a note shall be deemed to corres-
pond with the drawer of an accepted bill payable to drawer’s
order,