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The Annotated Code of the Public General Laws of Maryland, 1924
Volume 375, Page 389   View pdf image (33K)
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BILLS OF EXCHANGE AND PROMISSORY NOTES. 389

dishonored by a previous refusal to accept, or by non-payment. But when
a bill payable after sight is dishonored by non-aceptance and the drawee
subsequently accepts it, the holder, in the absence of any different agree-
ment, is entitled to have the bill accepted as of the date of the first
presentment.

An. Code, sec. 158. 1904, sec. 158. 1898, ch. 119.

158. An acceptance is either general or qualified. A general acceptance
assents without qualification to the order of the drawer. A qualified ac-
ceptance in express terms varies the effect of the bill as drawn.

An. Code, sec. 159. 1904, sec. 159. 1898, ch. 119.

159. An acceptance to pay at a particular place is a general acceptance
unless it expressly states that the bill is to be paid there only and not
elsewhere.

An. Code, sec. 160. 1904, sec. 160. 1898, ch. 119.

160. An acceptance is qualified, which is:

1. Conditional—that is to say, which makes payment by the acceptor
dependent on the fulfillment of a condition therein stated;

2. Partial—that is to say, an acceptance to pay part only of the amount
for which the bill is drawn;

3. Local—that is to say, an acceptance to pay only at a particular place;

4. Qualified as to time;

5. The acceptance of some one or more of the drawees, but not of all.

An acceptance of an order " to be paid in thirty days from the date of the final
completion of said work in accordance with the provisions of the contract," is con-
ditional. Meaning of " conditional " acceptance. Crane Co. v. Druid Realty Corp.,
137 Md. 330.

An. Code, sec. 161. 1904, sec. 161. 1898, ch. 119.

161. The holder may refuse to take a qualified acceptance, and if he
does not obtain an unqualified acceptance he may treat the bill as dis-
honored by non-acceptance. Where a qualified acceptance is taken, the
drawer and indorsers are discharged from liability on the bill, unless they
have expressly or impliedly authorized the holder to take a qualified ac-
ceptance, or subsequently assent thereto. When the drawer or an indorser
receives notice of a qualified acceptance, he must, within a reasonable time,
express his dissent to the holder, or he will be deemed to have assented
thereto.

CHAPTER XII.—Presentment of Bills of Exchange for Acceptance.

An. Code, sec. 162. 1904, sec. 162. 1898, ch. 119.

162. Presentment for acceptance must be made:

1. Where the bill is payable after sight, or in any other case where pre-
sentment for acceptance is necessary in order to fix the maturity of the in-
strument; or

2. Where the bill expressly stipulates that it shall be presented for ac-
ceptance; or

 

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The Annotated Code of the Public General Laws of Maryland, 1924
Volume 375, Page 389   View pdf image (33K)
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