ART. 13] DISCHARGE OF NEGOTIABLE INSTRUMENTS. 347

not necessary, unless in the meantime the instrument has been
accepted.

136. An omission to give notice of dishonor by non-accept-
ance does not prejudice the rights of a holder in due course
subsequent to the omission.

137- Where any negotiable instrument has been dishonored
it may be protested for non-acceptance or non-payment, as the
case may be; but protest is not required, except in the case of
foreign bills of exchange.

CHAPTER IX—Discharge of Negotiable Instruments.
138. A negotiable instrument is discharged:

1. By payment in due course by or on behalf of the prin-
cipal debtor;

2. By payment in due course by the party accommodated,
where the instrument is made or accepted for accommodation;

3. By the intentional cancellation thereof by the holder;

4. By any other act which will discharge a simple contract
for the payment of money;

5. When the principal debtor becomes the holder of the
instrument at or after maturity in his own right.

139. A person secondarily liable on the instrument is dis-
charged:

1. By any act which discharges the instrument;

2. By the Intentional cancellation of his signature by the
holder;

3. By the discharge of a prior party;

4. By a valid tender of payment made by a prior party;

5. By a release of the principal debtor, unless the holder's
right of recourse against the party secondarily liable is
expressly reserved;

6. By any agreement binding upon the holder to extend the
time of payment, or to postpone the holder's right to enforce
the instrument, unless the right of recourse against such party
is expressly reserved.

140. Where the instrument is paid by a party secondarily
liable thereon, it is not discharged; but the party so paying it