484 ARTICLE 13

Ah. Code, 1924, sec. 104. 1912, sec. 104. 1904, sec. 104. 1898, ch. 119.

104. Every negotiable instrument is payable at the time fixed therein
without grace. When the day of maturity falls upon Sunday, or a holiday,
the instrument is payable on the next succeeding business day. Instruments
falling due on Saturday are to be presented for payment on the next suc-
ceeding business day, except that instruments payable on demand may,
at the option of the holder, be presented for payment before twelve o'clock

noon on Saturday, when that entire day is not a holiday.

Note due on Saturday presented on Monday. Wolf v. Union Trust Co., 150 Md. 387.
Cited in dissenting opinion in Ghingher v. Pearson, 165 Md. 312.
See notes to sec. 90.

An. Code, 1924, sec. 105. 1912, sec. 105. 1904, sec. 105. 1898, ch. 119.

105. Where the instrument is payable at a fixed period after date,
after sight, or after the happening of a specified event, the time of pay-
ment is determined by excluding the day from which the time is to begin
to run, and by including the date of payment.
See sec. 17.

An. Code, 1924, sec. 106. 1912, sec. 106. 1904, sec. 106. 1898, ch. 119.

106. Where the instrument is made payable at a bank, it is equiva-
lent to an order to the bank to pay the same for the account of the prin-
cipal debtor thereon.
Cited but not construed in Wolf v. Union Trust Co., 150 Md. 387.

An. Code, 1924, sec. 107. 1912, sec. 107. 1904, sec. 107. 1898, ch. 119.

107. Payment is made in due course when it is made at or after the
maturity of the instrument to the holder thereof in good faith and without
notice that his title is defective.

CHAPTER VIII.—Notice of Dishonor.

An. Code, 1924, sec. 108. 1912, sec. 108. 1904, sec. 108. 1898, ch. 119.

108. Except as herein otherwise provided, when a negotiable instru-
ment has been dishonored by non-acceptance or non-payment, notice of
dishonor must be given to the drawer and to each indorser, and any drawer
or indorser to whom such notice is not given is discharged.

Persons, endorsers under sec. 82, in the absence of notice of non-payment were dis-
charged from liability. Lightner v. Roach, 126 Md. 476...

Cited but not construed in Rhoads v. National Bank, 172 Md. 126.

See notes to secs. 6 and 7. See art. 11, sec. 119.

An. Code, 1924, sec. 109. 1912, sec. 109. 1904, sec. 109. 1898, ch. 119.

109. The notice may be given by or on .behalf of the holder or by or
on behalf of any party to the instrument who might be compelled to pay
it to the holder, and who, upon taking it up, would have a right to reim-
bursement from the party to whom the notice is given.

An. Code, 1924, sec. 110. 1912, sec. 110. 1904, sec. 110. 1898, ch. 119.

110. Notice of dishonor may be given by an agent either in his own
name or in the name of any party entitled to give notice, whether that party
be his principal or not.