February, known as Washington's Birthday: the Fourth of July; the thirtieth day of May, commonly called Decoration Day; the first Monday in September, known as Labor's Holiday; the twenty-fifth day of December, commonly called Christmas Day; every Saturday. after twelve o'clock noon; any day appointed or recommended by the President of the United States as a day of public fasting or thanksgiv ing, and the day of the inauguration of the President, in every fourth year, shall be holidays in the District within the meaning of this see-falling on Sun- tion. Whenever any day set apart as a legal holiday shall fall on Sunday. day, then and in such case the next succeeding day shall be a holiday: and in such cases and in all cases in which a Sunday and a holiday shall fall on successive days all commercial paper falling due on any of said days shall, for all purposes of presenting for payment or acceptance, be deemed to mature and be presentable for payment or acceptance on the next secular or business day succeeding.

Time, how computed.

Where instrument payable at a bank.

Payment due course, what con

stitutes.

Notice of dishonor.

-to whom given.

-by whom.

-given by an agent.

-given on behalf of the holder.

-given by party entitled, etc.

Agent may give notice.

When notice sufficient.

Form of notice.

SEC. 1390. Where the instrument is payable at a fixed period after date, after sight, or after the happening of a specified event the time of payment is determined by excluding the day from which the time is to begin to run and by including the date of payment.

SEC. 1391. Where the instrument is made payable at a bank it is equivalent to an order to the bank to pay the same for the account of the principal debtor thereon.

SEC. 1392. Payment is made in due course when it is made at or after the maturity of the instrument to the holder thereof in good faith and without notice that his title is defective.

SEC. 1393. NOTICE OF DISHONOR.-Except as herein otherwise provided, when a negotiable instrument has been dishonored by nonacceptance or nonpayment, notice of dishonor must be given to the drawer and to each indorser, and any drawer or indorser to whom such notice is not given is discharged.

SEC. 1394. The notice may be given by or on behalf of the holder. or by or on behalf of any party to the instrument who might be compelled to pay it to the holder, and who, upon taking it up, would have a right-to reimbursement from the party to whom the notice is given. SEC. 1395. Notice of dishonor may be given by an agent, either in his own name or in the name of any party entitled to give notice, whether that party be his principal or not.

SEC. 1396. FOR WHOSE BENEFIT.-Where notice is given by or on behalf of the holder it inures for the benefit of all subsequent holders and all prior parties who have a right of recourse against the party to whom it is given.

SEC. 1397. Where notice is given by or on behalf of a party entitled to give notice it inures for the benefit of the holder and all parties subsequent to the party to whom notice is given.

SEC. 1398. Where the instrument has been dishonored in the handof an agent, he may either himself give notice to the parties liable thereon or he may give notice to his principal. If he give notice to his principal he must do so within the same time as if he were the holder, and the principal, upon the receipt of such notice, has himself the same time for giving notice as if the agent had been an independent holder.

SEC. 1399. FORM OF NOTICE.-A written notice need not be signed, and an insufficient written notice may be supplemented and validated by verbal communication. A misdescription of the instrument does not vitiate the notice unless the party to whom the notice is given is in fact misled thereby.

SEC. 1400. The notice may be in writing or merely oral, and may be given in any terms which sufficiently identify the instrument and indicate that it has been dishonored by nonacceptance or nonpayment. It may in all cases be given by delivering it personally or through the

mails.

SEC. 1401. TO WHOM GIVEN.-Notice of dishonor may be given either to the party himself or to his agent in that behalf.

To whom given.

-when party

SEC. 1402. WHEN PARTY DEAD.-When any party is dead, and his death is known to the party giving notice, the notice must be given to dead. a personal representative, if there be one, and if, with reasonable diligence, he can be found. If there be no personal representatives, notice may be sent to the last residence or last place of business of the deceased. SEC. 1403. PARTNERS.-Where the parties to be notified are partners, notice to any one partner is notice to the firm, even though there has ners. been a dissolution.

Notice to part

SEC. 1404. JOINT PARTIES.-Notice to joint parties who are not Persons jointly partners must be given to each of them, unless one of them has author- liable. ity to receive such notice for the others.

SEC. 1405. BANKRUPT, AND SO FORTH.-Where a party has been adjudged a bankrupt or an insolvent, or has made an assignment for the benefit of creditors, notice may be given either to the party himself or to his trustee or assignee.

Bankrupts.

Time within

SEC. 1406. MAY BE GIVEN AS SOON AS INSTRUMENT IS DISHONORED.Notice may be given as soon as the instrument is dishonored; and which notice must unless delay is excused, as hereinafter provided, must be given within be given.

the time fixed by this act.

SEC. 1407. WHEN TO BE GIVEN IF HOLDER AND PARTY RESIDE IN When parties reSAME PLACE. Where the person giving and the person to receive side in same place. notice reside in the same place, notice must be given within the fol

lowing times:

First. If given at the place of business of the person to receive notice, it must be given before the close of business hours on the following day.

Second. If given at his residence, it must be given before the usual hours of rest on the day following.

Third. If sent by mail, it must be deposited in the post-office in time to reach him in the usual course on the day following.

-in different

SEC. 1408. WHEN IF THEY RESIDE IN DIFFERENT PLACES.- -Where the person giving and the person to receive notice reside in different places. places, the notice must be given within the following times:

First. If sent by mail, it must be deposited in the post-office in time to go by mail the day foliowing the day of dishonor, or, if there be no mail at a convenient hour on that day, by the next mail thereafter.

Second. If given otherwise than through the post-office, then within the time that notice would have been received in due course of mail if it had been deposited in the post-office within the time specified in the last subdivision.

Mailing notice

SEC. 1409. MAILING NOTICE SUFFICIENT. - Where notice of dishonor is duly addressed and deposited in the post-office the sender is deemed sufficient. to have given due notice, notwithstanding any miscarriage in the mails. SEC. 1410. Notice is deemed to have been deposited in the post-office-deposit in postwhen deposited in any branch post-office or in any letter box under the office, what consticontrol of the Post-Office Department.

tutes.

SEC. 1411. PARTY NOTIFIED ALLOWED WHAT TIME. -Where a party Notice to subsereceives notice of dishonor he has, after the receipt of such notice, the quent parties; time same time for giving notice to antecedent parties that the holder has after the dishonor.

of.

To what address

SEC. 1412. TO WHAT ADDRESS SENT.-Where a party has added an address to his signature, notice of dishonor must be sent to that address; sent. but if he has not given such address, then the notice must be sent as follows:

First. Either to the post-office nearest to his place of residence, or to the post-office where he is accustomed to receive his letters; or, Second. If he live in one place and have his place of business in another, notice may be sent to either place; or,

Waiver of no

tice.

-who may be affected by.

Waiver of pro

test.

When notice dispensed with.

When delay excused.

When notice not

Third. If he is sojourning in another place, notice may be sent to the place where he is so sojourning.

But where the notice is actually received by the party within the time specified by this act it will be sufficient, though not sent in accord ance with the requirements of this section.

SEC. 1413. WAIVER OF NOTICE.-Notice of dishonor may be waived either before the time of giving notice has arrived or after the omission to give due notice, and the waiver may be express or implied.

SEC. 1414. Where the waiver is embodied in the instrument itself it is binding upon all parties, but where it is written above the signature of an indorser it binds him only.

SEC. 1415. WAIVER OF PROTEST.-A waiver of protest, whether in the case of a foreign bill of exchange or other negotiable instrument, is deemed to be a waiver not only of a formal protest, but also of presentment and notice of dishonor.

SEC. 1416. WHEN NOTICE DISPENSED WITH.-Notice of dishonor is dispensed with when, after the exercise of reasonable diligence, it can not be given to or does not reach the parties sought to be charged.

SEC. 1417. WHEN DELAY EXCUSED.-Delay in giving notice of dishonor is excused when the 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 notice must be given with reasonable diligence.

SEC. 1418. WHEN NOTICE NOT REQUIRED AS TO DRAWER.-Notice required as to of dishonor is not required to be given to the drawer in either of the

drawer.

When not re

following cases:

First. Where the drawer and the drawee are the same person. Second. Where the drawee is a fictitious person or a person not having capacity to contract.

Third. Where the drawer is the person to whom the instrument is presented for payment.

Fourth. Where the drawer has no right to expect or require that the drawee or acceptor will honor the instrument; or,

Fifth. Where the drawer has countermanded payment.

SEC. 1419. WHEN NOT REQUIRED AS TO INDORSER.-Notice of disquired as to in- honor is not required to be given to an indorser in either of the following cases:

dorser.

Notice of pay

First. Where the drawee is a fictitious person or a person not having capacity to contract, and the indorser was aware of the fact at the time he indorsed the instrument.

Second. Where the indorser is the person to whom the instrument is presented for payment; or,

Third. Where the instrument was made or accepted for his accommodation.

SEC. 1420. NOTICE OF NONPAYMENT, WHEN NOT NECESSARY.-Where ment, when not due notice of dishonor by nonacceptance has been given, notice of a subsequent dishonor by nonpayment is not necessary, unless in the meantime the instrument has been accepted.

necessary.

Omission to give SEC. 1421. OMISSION TO GIVE NOTICE OF NONACCEPTANCE. - An notice of nonac- omission to give notice of dishonor by nonacceptance does not prejudice the rights of a holder in due course subsequent to the omission. SEC. 1422. PROTEST ON OTHER INSTRUMENTS THAN FOREIGN BILLS. —

ceptance, effect.

Protest on other foreign bills.

instruments than Where any negotiable instrument has been dishonored it may be protested for nonacceptance or nonpayment, as the case may be but protest is not required except in the case of foreign bills of exchange. The original protest of a notary public in the District, under his hand and official seal, of any bill of exchange, check, or order for nonaeceptance or nonpayment, or of any promissory note for nonpayment, stating the presentment by him of such bill of exchange, check, order, or promissory note for acceptance or payment and the nonacceptance

or nonpayment thereof, and the service of notice thereof on any of the parties to such bill of exchange, promissory note, or check, and the mode of giving such notice, and the reputed place of business or residence of the party to whom the same was given shall be prima facie evidence of the facts therein contained.

SEC. 1423. WHEN NEGOTIABLE INSTRUMENT DISCHARGED.-A nego- When negotiable tiable instrument is discharged

instrument dis

First. By payment in due course by or on behalf of the principal charged.

debtor.

Second. By payment in due course by the party accommodated, where the instrument is made or accepted for accommodation. Third. By the intentional cancellation thereof by the holder. Fourth. By any other act which will discharge a simple contract for the payment of money.

Fifth. When the principal debtor becomes the holder of the instrument at or after maturity in his own right.

SEC. 1424. WHEN PERSON SECONDARILY LIABLE DISCHARGED.-A person secondarily liable on the instrument is discharged— First. By an act which discharges the instrument.

Second. By the intentional cancellation of his signature by the holder.

Third. By the discharge of a prior party.

Fourth. By a valid tender of payment made by a prior party. Fifth. By a release of the principal debtor, unless the holder's right of recourse against the party secondarily liable is expressly reserved. Sixth. By an agreement binding upon the holder to extend the time of payment, or to postpone the holder's right to enforce the instrument, unless made with the assent of the party secondarily liable or unless the right of recourse against such party is expressly reserved.

When person secondarily liable discharged.

SEC. 1425. PAYMENT BY PARTY SECONDARILY LIABLE NOT A DIS- Payment by CHARGE.—Where the instrument is paid by a party secondarily liable party secondarily thereon it is not discharged; but the party so paying it is remitted to liable not a discharge. his former rights as regards all prior parties, and he may strike out his own and all subsequent indorsements and again negotiate the instrument, except

First. Where it is payable to the order of a third person and has been paid by the drawer; and,

Second. Where it was made or accepted for accommodation and has been paid by the party accommodated.

Renouncing

SEC. 1426. RENOUNCING RIGHTS AGAINST PARTY.-The holder may expressly renounce his rights against any party to the instrument rights against before, at, or after its maturity. An absolute and unconditional party. renunciation of his rights against the principal debtor made at or after the maturity of the instrument discharges the instrument; but a renunciation does not affect the rights of a holder in due course without notice. A renunciation must be in writing, unless the instrument is delivered up to the person primarily liable thereon.

Cancellation un

SEC. 1427. CANCELLATION.A cancellation made unintentionally, or under a mistake, or without the authority of the holder, is inopera- intentionally. tive; but where an instrument or any signature thereon appears to -burden of have been canceled the burden of proof lies on the party who alleges proof. that the cancellation was made unintentionally, or under a mistake, or without authority.

SEC. 1428. ALTERATION. Where a negotiable instrument is materially altered without the assent of all parties liable thereon it is avoided, except as against a party who has himself made, authorized, or assented to the alteration and subsequent indorsers.

But when an instrument has been materially altered and is in the hands of a holder in due course, not a party to the alteration, he may enforce payment thereof according to its original tenor.

of.

Alteration, effect

-what a material alteration.

Bills of exchange. Definition.

Not an assignment of funds.

Bills addressed

SEC. 1429. WHAT IS A MATERIAL ALTERATION.-Any alteration which changes

First. The date.

Second. The sum payable, either for principal or interest.
Third. The time or place of payment.

Fourth. The number or the relations of the parties.

Fifth. The medium or currency in which payment is to be made. Or which adds a place of payment where no place of payment is specified, or any other change or addition which alters the effect of the instrument in any respect is a material alteration.

SEC. 1430. FORM OF BILL OF EXCHANGE.-A bill of exchange is an unconditional order in writing addressed by one person to another, signed by the person giving it, requiring the person to whom it is addressed to pay on demand or at a fixed or determinable future time a sum certain in money to order or to bearer.

SEC. 1431. NOT AN ASSIGNMENT OF FUNDS.-A bill of itself does not operate as an assignment of the funds in the hands of the drawee available for the payment thereof, and the drawee is not liable on the bil! unless and until he accepts the same.

SEC. 1432. TO WHOM ADDRESSED.-A bill may be addressed to two to more than one or more drawees jointly, whether they are partners or not, but not to two or more drawees in the alternative or succession.

drawee.

Foreign and inland bills.

Where drawer

the same person.

SEC. 1433. FOREIGN AND INLAND BILLS.—An inland bill of exchange is a bill which is or on its face purports to be both drawn and payabie within this District. Any other bill is a foreign bill. Unless the contrary appears on the face of the bill the holder may treat it as an inland bill.

SEC. 1434. WHERE DRAWER AND DRAWEE SAME PERSON.-Where in and drawee are a bill drawer and drawee are the same person, or where the drawee is a fictitious person or a person not having capacity to contract, the holder may treat the instrument, at his option, either as a bill of exchange or a promissory note.

Referee in case

of need.

Acceptance. -how made.

Holder entitled

SEC. 1435. REFEREE IN CASE OF NEED.-The drawer of a bill and any indorser may insert thereon the name of a person to whom the holder may resort in case of need; that is to say, in case the bill is dishonored by nonacceptance or nonpayment. Such person is called the referee in case of need. It is in the option of the holder to resort to the referee in case of need or not, as he may see fit.

SEC. 1436. ACCEPTANCE. The acceptance of a bill is the signification by the drawee of his assent to the order of the drawer. The acceptance must be in writing and signed by the drawee. It must not express that the drawee will perform his promise by any other means than the payment of money.

SEC. 1437. The holder of a bill presenting the same for acceptance to acceptance on may require that the acceptance be written on the bill, and if such a request is refused may treat the bill as dishonored.

face of bill.

Acceptance on

SEC. 1438. Where an acceptance is written on a paper other than separate instru- the bill itself it does not bind the acceptor except in favor of a person to whom it is shown and who, on the faith thereof, receives the bill for value.

ment.

SEC. 1439. ACCEPTANCE BEFORE BILL DRAWN.-An unconditional promise in writing to accept a bill before it is drawn is deemed an actual acceptance in favor of every person who, upon the faith thereof, receives the bill for value.

SEC. 1440. TIME ALLOWED FOR ACCEPTING.-The drawee is allowed twenty-four hours after presentment in which to decide whether or not he will accept the bill; but the acceptance, if given, dates as of the day of presentation.

SEC. 1441. ACCEPTANCE, WHEN DEEMED MADE.-Where a drawee to whom a bill is delivered for acceptance destroys the same or refuses