BILLS OF EXCHANGE AND PROMISSORY NOTES 497

An. Code, 1924, sec. 194. 1912, sec. 194. 1904, 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. ,

An. Code, 1924, sec. 195. 1912, sec. 195. 1904, sec. 195. 1898, ch. 119.

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

An. Code, 1924, sec. 196. 1912, sec. 196. 1904, sec. 196. 1898, ch. 119.

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

CHAPTER XVI.—Bills in a Set.

An. Code, 1924, sec. 197. 1912, sec. 197. 1904, 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.

An. Code, 1924, sec. 198. 1912, 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, 1924, sec. 199. 1912, 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, 1924, sec. 200. 1912, 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, 1924, sec. 201. 1912, 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 aceptance 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, 1924, sec. 202. 1912, 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.