Acceptance Course to be pursued when the Drawee is willing to As the stamp act imposes a distinct duty on protests, and on notarial acts not otherwise charged, it appears to prohibit the making the act of honour on the fly sheet of the protest, unless it has a stamp of 5s, in addition to the ad valorem protest stamp; and it is in general made on a separate stamp, which seems to be the regular and only safe mode. It occasionally happens that the drawee has not sufficient funds of the drawer on hand to provide for the payment of the full amount of accept for part. the bill, and is willing to accept for a part of the amount only; formerly in that case it was occasionally stated in the protest, that the drawee declared that he accepted for part, and refused to accept for the remainder, and the protest then concluded with protesting for want of acceptance of the remainder, but the general opinion now is that such a mode is irregular and objectionable; and it is now considered that the proper and regular course is to cause the bill to be absolutely protested, and to state in the protest that the drawee had refused to accept it, according to the tenor of the bill, and then for an act of honour to be prepared on a separate stamp", and granted by a notary, certifying that the drawee would accept the bill supra protest for a part of the amount, for the honour of the drawer; and for an acceptance supra protest for such part, to be made upon the (1) Vide Supra, as to the Act of Honour requiring a separate stamp. pursued when bill by the drawee. In practice this is the course Acceptance which is now generally adopted; it is a safe one, Supra Protest. as avoiding any awkward point respecting the Course to be stamp duty, and it is submitted that it is the proper the Drawee is and regular one for the holder to pursue, if he in- willing to tends not to commit himself, and does not choose accept for part. to raise any question, whether by neglecting to adopt it, he may discharge the drawer and indorsers from their liability""). Acceptance Whether a bill is accepted supra protest, for Notice of Disall, or for a part of the amount, either by a third honour, on person, or by the drawee, it is necessary that the Supra Protest. holder should give notice of the protest and circumstance, to the other parties to the bill, with the same diligence, and in the same manner, as is requisite, in any common case, of the dishonour, and protest of a bill. Acceptance, or A protest must always be made, before any Protest necesperson accepts, or pays a bill supra protest; and sary before this ceremony is necessary, for the security of the Payment, for person who so accepts or pays; and in case of Honour. such an acceptance it is also necessary, for the security of the holder to present it when due to the drawee, and to protest it on non-payment(2). . In Vandewall and another v. Tyrrell), the defendant, who resided at Jamaica, drew four bills (1) See Chap. 3, as to conditional, partial, or varying acceptances. (2) Hoare v. Cazenove, 16 East, 391: Vandewall and another v. Tyrrell, before Lord Tenterden, C. J. Trinity Term, 8th Geo. IV, 1827, Moo. and Malk. 87. (3) Moo. and Malk. 87. Acceptance for £1500 on Willis and Co. in London, at nine Supra Protest. months after sight. The bills were duly accepted, but were dishonoured, and noted for non-payment, at the time when they became due, which was on the 30th of July. The plaintiffs paid the bills for the honour of the defendant, the drawer, and sent notice of it to the defendant, by the first foreign post, to Jamaica. No protest was made for non-payment, until May in the following year, when a protest was drawn up, and purported to have been made, before the payment by the plaintiffs; and an action for money paid, having been brought by the plaintiffs against the defendant, the drawer, it was decided by Lord Tenterden, C. J. that such a payment could not bind the defendant, or subject him to liability to refund; for that the custom of merchants clearly was, that a formal protest for non-payment should be made, before the payment supra protest, for the honour of any party to the bill; and the plaintiff was accordingly nonsuited. In Hoare v. Cazenove"), the defendant was the acceptor supra protest, for the honour of the first indorsers of a foreign bill, drawn payable 130 days after date, having been first duly presented for acceptance, and refused, and protested for non-acceptance; but when the bill became due, it was not presented to the drawees for payment, nor protested for non-payment; and the Court held, that the holder could not (1) 16 East, 391. Supra Protest. recover against the defendant, and treated an Acceptance acceptance supra protest, as a conditional engagement, which only rendered the acceptor liable, if the bill was duly presented again to the drawee, and (if refused) protested for non-payment; and Lord Ellenborough said, “And indeed the reason of the thing, as well as the strict law of the case, seems to render a second resort to the drawee proper, when the unaccepted bill still remains with the holder; for effects often reach the drawee, who has refused acceptance in the first instance, out of which the bill may, and would be satisfied, if presented to him again, when the period of payment had arrived. And the drawer is entitled to the chance of benefit, to arise from such second demand, or, at any rate, to the benefit of that evidence, which the protest affords, that the demand has been made duly, without effect, as far as such evidence may be available to him, for purposes of ulterior resort." tional only, and unless the Bill is presented for The acceptance supra protest is only in the Acceptance for nature of a condition, and to render the acceptor Honour condiliable upon it, the bill must be duly presented for the Acceptor payment to the drawee and refused by him, or not liable not paid. In Williams v. Germaine", Lord Tenterden, C. J. said, "It seems to me, there- Payment to the Drawee, and fore, that the same rule as to proof, which prevails in the case of an acceptor for honour, in suing a party for whose honour he accepts, must also be observed, when the holder of a bill, sues the (1) 7 Barn. and Cress. 477. protested. Acceptance Time of Presentment for Payment when person so accepting. The result, as it seems to me, of the decision"" to which I have alluded is, that an acceptance for honour is to be considered, not as absolutely such, but in the nature of a conditional acceptance. It is equivalent to saying to the holder of the bill, keep this bill; don't return it; and when the time arrives at which it ought to be paid, if it be not paid by the party, on whom it was originally drawn, come to me, and you shall have the money." If a bill drawn payable after date be accepted supra protest, it must be presented for payment payable after to the original drawee on the day when it falls due, calculated from the date(2). date. Time of Pre sentment for Payment when payable after sight. But the presentment for payment of a bill drawn payable after sight, should be made to the original drawee, on the day when, according to the acceptance supra protest, the bill falls due, and not calculated from the day of presentment for acceptance to, and dishonour by the drawee3). In Williams v. Germaine, the elder, and Same v. Germaine, the younger"), a foreign bill was drawn by Germaine, the younger, payable thirty days after sight, and presented for acceptance (1) Referring to Hoare v. Cazenove, 16 East, 391. (2) Hoare v. Cazenove, 16 East, 391; and from what fell from Lord Tenterden, C. J. in Williams v. Germaine, 7 Barn. and Cress. 468, he also evidently appears to have taken it for granted, that the presentment must be at the period above mentioned. (3) Williams v. Germaine, 7 Barn. and Cress. 468. (4) 7 Barn. and Cress. 468. |