BILLS OF EXCHANGE AND PROMISSORY NOTES. 395

An. Code, sec. 198. 1904, sec. 198. 1898, ch. 119.

198. Where two or more parts of a set are negotiated to different hold-
ers 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 pre-
sented to him.

An. Code, sec. 199. 1904, sec. 199. 1898, ch. 119.

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

An. Code, sec. 200. 1904, sec. 200. 1898, ch. 119.

200. The acceptance may be written on any part and it must be writ-
ten 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.

An. Code, sec. 201. 1904, sec. 201. 1898, ch. 119.

201. When the acceptor of a bill drawn in a set pays it without requir-
ing 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.

An. Code, sec. 202. 1904, sec. 202. 1898, ch. 119.

202. Except as herein otherwise provided, where any one part of a bill
drawn in a set is discharged by payment or otherwise, the whole bill is
discharged.

CHAPTER XVII.—Promissory Notes and Checks.

An. Code, sec. 203. 1904, sec. 203. 1898, ch. 119.

203. A negotiable promissory note within the meaning of this act is
an unconditional promise in writing made by one person to another, signed
by the maker engaging to pay on demand or at a fixed or determinable
future time, a sum certain in money to order or to bearer. Where a note
is drawn to the maker's own order, it is not complete until indorsed by him.

An. Code, sec. 204. 1904, sec. 204. 1898, ch. 119.

204. A check is a bill of exchange drawn on a bank payable on demand.
Except as herein otherwise provided, the provisions of this act applicable
to a bill of exchange payable on demand apply to a check.

As to the effect of a postdated check, see Am. Agri. Chem. Co. v. Scrimger, 130
Md. 393.

An. Code, sec. 205. 1904, sec. 205. 1898, ch. 119.

205. A check must be presented for payment within a reasonable time
after its issue or the drawer will be discharged from liability thereon to
the extent of the loss caused by the delay.