294 BILLS OF EXCHANGE AND PROMISSORY NOTES. [ART. 13

1904, art. 13, sec. 146. 1898, ch. 119.

146. 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 bill unless and until he accepts the same.

Ibid. sec. 147. 1898, ch. 119.

147. A bill may be addressed to two or more drawees jointly,
whether they are partners or not; but not to two or more drawees in
the alternative or in succession.

Ibid. sec. 148. 1898, ch. 119.

148. An inland bill of exchange is a bill which is, or on its face
purports to be, both drawn and payable within this State. 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.

Ibid. sec. 149. 1898, ch. 119.

149. Where in 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.

Ibid. sec. 150. 1898, ch. 119.

150. The drawer of a bill and any indoraer 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 non-acceptance or non-pay-
ment. 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.

CHAPTER XI—Acceptance of Bills of Exchange.

Ibid. sec. 151. 1898, ch. 119.

151. 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 writ-
ing 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.

Ibid. sec. 152. 1898, ch. 119.

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

Ibid. sec. 153. 1898, ch. 119.

153. Where an acceptance is written on a paper other than 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.