ART. 13] BILLS IN A SET. 301

1904, art. 13, sec. 194. 1898, ch. 119.

194. Where a bill has been paid for honor, all parties subsequent
to the party for whose honor it is paid are discharged, but the payer
for honor is subrogated for, and succeeds to, both the rights and duties
of the holder as regards the party for whose honor he pays and all
parties liable to the latter.

Ibid. sec. 195. 1898, ch. 119.

195. Where the holder of a bill refuses to receive payment supra
protest, he loses his right of recourse against any party who would have
been discharged by such payment.

Ibid. sec. 190. 1898, ch. 319.

196. The payer for honor on paying to the holder the amount of
the bill and the notarial expenses incidental to its dishonor is entitled1
to receive both the bill itself and the protest.

CHAPTER XVI—Bills in a Set.

Ibid. sec. 197. 1898. ch. 119.

197. Where a bill is drawn in a set, each part of the set being num-
bered and containing a reference to the other parts, the whole of the
parts constitute one bill.

Ibid. sec. 198. 1898. ch. 119.

198. Where two or more parts of a set are negotiated to different
holders in due course, the holder whose title first accrues is, as between
such holders, the true owner of the bill. But nothing in this section
affects the rights of a person who in due course accepts or pays the
part first presented to him.

Ibid. sec. 199. 1898. ch. 119.

199. Where the holder of a set indorses two or more parts to dif-
ferent persons, he is liable on every such part, and every indorser sub-
sequent to him is liable on the part he has himself indorsed, as if such
parts were separate bills.

Ibid. sec. 200. 1898, ch. 119.

200. The acceptance may be written on any part and it must be
written on one part only. If the drawee accepts more than one part,
and such accepted parts are negotiated to different holders in due course,
he is liable on every such part as if it were a separate bill.

Ibid. sec. 201. 1,898. ch. 119.

201. When the acceptor of a bill drawn in a set pays it without
requiring the part bearing his acceptance to be delivered up to him,
and that part at maturity is outstanding in the hands of a holder in due
course, he is liable to the holder thereon.