BILLS OF EXCHANGE AND PROMISSORY NOTES 493

An. Code, 1924, sec. 164. 1912, sec. 164. 1904, sec. 164. 1898, ch. 119.

164. Presentment for acceptance must be made by or on behalf of
the holder at a reasonable hour, on a business day, and before the bill is
overdue, to the drawee or some person authorized to accept or refuse ac-
ceptance on his behalf; and

1. Where a bill is addressed to two or more drawees who are not part-
ners, presentment must be made to them all, unless one has authority to
accept or refuse acceptance for all, in which case presentment may be made
to him only;:

2. Where the drawee is dead, presentment may be made to his personal
representative;

3. Where the drawee has been adjudged a bankrupt or an insolvent, or
has made an assignment for the benefit of creditors, presentment may be
made to him or to his trustee or assignee.

. An. Code, 1924, sec. 165. 1912, sec. 165. 1904, sec. 165. 1898, ch. 119.

165. A bill may be presented for acceptance on any day on which nego-
tiable instruments may be presented for payment under the provisions of
sections ninety-one and one hundred and four of this article. When Satur-
day is not otherwise a holiday, presentment for acceptance may be made
before twelve o'clock noon on that day.

An. Code, 1924, sec. 166. 1912, sec. 166. 1904, sec. 166. 1898, ch. 119.

166. Where the holder of a bill, drawn payable elsewhere than at the
place of business or the residence of the drawee, has not time, with the
exercise of reasonable diligence, to present the bill for acceptance before
presenting it for payment on the day that it falls due, the delay caused by
presenting the bill for acceptance before presenting it for payment is ex-
cused, and does not discharge the drawers and indorsers.

An. Code, 1924, sec. 167. 1912, sec. 167. 1904, sec. 167. 1898, ch. 119.

167. Presentment for acceptance is excused, and a bill may be treated
as dishonored by non-acceptance, in either of the following cases:

1. Where the drawee is dead, or has absconded, or is a fictitious person,
or a person not having capacity to contract by bill;

2. Where after the exercise of reasonable diligence, presentment cannot
be made;

3. Where although presentment has been irregular, acceptance has been
refused on some other ground.

An. Code, 1924, sec. 168. 1912, sec. 168. 1904, sec. 168. 1898, ch. 119.

168. A bill is dishonored by non-acceptance:

1. When it is duly presented for acceptance, and such an acceptance as is
prescribed by this article is refused or cannot be obtained;

2. When presentment for acceptance is excused and the bill is not
accepted.

An. Code, 1924, sec. 169. 1912, sec. 169. 1904, sec. 169. 1898, ch. 119.

169. Where a bill is duly presented for acceptance and is not accepted
within the prescribed time, the person presenting it must treat the bill as
dishonored by non-acceptance or he loses the right of recourse against the
drawer and indorsers.