ART. 13] BILLS OF EXCHANGE. 349

Or which adds a place of payment where no place of pay-
ment is specified, or any other change or addition which alters
the effect of the instrument in any respect, is a material alter-
ation.

CHAPTER X—Bills of Exchange; Form and Interpretation.

145. A bill of exchange is an unconditional order in writing
addressed by one person to another, signed by the person
giving it, requiring the person to whom it is addressed to pay
on demand or at a fixed or determinable future time, a sum
certain in money to order or to bearer.

146. A. bill of itself does not operate as an assignment of
the funds in the hands of the drawee available for the payment
thereof, and the drawee is not liable on the bill unless and until
he accepts the same.

147. A bill may be addressed to two or more drawees jointly,
whether they are partners or not; but not to two or more
drawees in the alternative or in succession.

148. An inland bill of exchange is a bill which is, or on its
face purports to be, both drawn and payable within this State.
Any other bill is a foreign bill. Unless the contrary appears
on the face of the bill, the holder may treat it as an inland bill.

149. Where in a bill drawer and drawee are the same person,
or where the drawee is a fictitious person, or a person not hav-
ing capacity to contract, the holder may treat the instrument,
at his option, either as a bill of exchange or a promissory note.

150. The drawer of a bill and any indorser may insert thereon
the name of a person to whom the holder may resort in case of
need—that is to say, in case the bill is dishonored by non-
acceptance or non-payment. Such person is called the " referee
in case of need. " It is in the option of the holder to resort to
the "referee in case of need" or not, as he may see fit.

CHAPTER XI—Acceptance of Bills of Exchange.

151. The acceptance of a bill is the signification by the
drawee of his assent to the order of the drawer. The accept-
ance must be in writing and signed by the drawee. It must