ART. 13] PROTEST. 353

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.

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.

170. When a bill is dishonored by non-acceptance, an
immediate right of recourse against the drawers and indorsers
accrues to the holder, and no presentment for payment is
necessary.

CHAPTER XIII. —Protests of Bills of Exchange.

171. Where a foreign bill appearing on its face to be such is
dishonored by non-acceptance, it must be duly protested for
non-acceptance, and where such a bill which has not previously
been dishonored by non-acceptance is dishonored by non-pay-
ment, it must be duly protested for non-payment. If it is not
so protested, the drawer and indorsers are discharged. Where
a bill does not appear on its face to be a foreign bill, protest
thereof in case of dishonor is unnecessary.

172. The protest must be annexed to the bill, or must con-
tain a copy thereof, and must be under the hand and seal of
the notary making it, and must specify:

1. The time and place of presentment;

2. The fact that presentment was made 'and the manner
thereof;

3. The cause or reason for protesting the bill;

4. The demand made and the answer given, if any, or the
fact that the drawee or acceptor could not be found.

173. Protest may be made by:

1. A notary public; or

2. By any respectable resident of the place where the bill is
dishonored, in the presence of two or more credible witnesses.

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