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The Maryland Code Public General Laws, 1904
Volume 393, Page 356   View pdf image (33K)
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356 BILLS OF EXCHANGE AND PROMISSORY NOTES. [ART. 13

189. When the bill is dishonored by the acceptor for honor
it must be protested for non-payment by him.

CHAPTER XV—Payment of Bills of Exchange for Honor.

190. Where a bill has been protested for non-payment, any
person may intervene and pay it supra protest for the honor of
any person liable thereon, or for the honor of the person for
whose account it was drawn.

191. The payment for honor supra protest in order to oper-
ate as such, and not as a mere voluntary payment, must be
attested by a notarial "act of honor which may be appended to
the protest or form an extension to it.

192. The notarial act of honor must be founded on a decla-
ration made by the payer for honor or by his agent in that
behalf, declaring his intention to pay the bill for honor and for
whose honor he pays.

103. Where two or more parties offer to pay a bill for the
honor of different parties, the person whose payment will dis-
charge most parties to the bill is to be given the preference.

194. Where a bill has been paid for honor, all parties sub-
sequent 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.

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

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 pro-
test.

CHAPTER XVI—Bills In a Set.

197. Where a bill is drawn in a set, each part of the set
being numbered and containing a reference to the other parts,,
the whole of the ports constitute one bill.


 

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The Maryland Code Public General Laws, 1904
Volume 393, Page 356   View pdf image (33K)
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