ART. 13] PRESENTMENT FOR PAYMENT. 285

1904, art. 13, sec. 86. 1898, ch. 119.

86. Where a person places his indorsement on an instrument nego-
tiable by delivery, he incurs all the liabilites of an indorser.

Ibid. sec. 87. 1898, ch. 119.

87. As respects one another, indorsers are liable prima facie in the
order in which they indorse; but evidence is admissible to show that as.
between or among themselves they have agreed otherwise. Joint payees
or joint indorsees who indorse are deemed to indorse jointly and sever-
ally.

Ibid. sec. 88. 1898, ch. 119.

88. When a broker or other agent negotiates an instrument without
indorsement, he incurs all the liabilites prescribed by section eighty-
four of this article, unless he discloses the name of his principal, and
the fact that he is acting only as agent.

CHAPTER VII—Presentment for Payment.

Ibid. sec. 89. 1898, ch. 119.

89. Presentment for payment is not necessary in order to charge
the person primarily liable on the instrument; but if the instrument
is, by its terms, payable at a special place, and he is able and willing to
pay it there at maturity, such ability and willingness are equivalent to
a tender of payment upon his part. But except as herein otherwise
provided, presentment for payment is necessary in order to charge the
drawer and indorsers.

Ibid. sec. 90. 1898, ch. 119.

90. Where the instrument is not payable on demand, presentment
must be made on the day it falls due. Where it is payable on demand,
presentment must be made within a reasonable time after its issue,
except that in the case of a bill of exchange, presentment for payment
will be sufficient if made within a reasonable time after the last negotia-
tion thereof.

Ibid. sec. 91. 1898, ch, 119.

91. Presentment for payment to be sufficient must be made:

1. By the holder, or by some person authorized to receive payment
on his behalf;

2. At a reasonable hour on a business day;

3. At a proper place, as herein defined;

4. To the person primarily liable on the instrument, or, if he is
absent or inaccessible, to any person found at the place where the pre-
sentment is made.

Ibid. sec. 92. 1898. ch. 119.

92. Presentment for payment is made at the proper place:
1. Where a place of payment is specified in the instrument and it is
there presented;