206 LAWS OF MARYLAND.

CHAPTER 119.

AN ACT to add certain new sections to Article 13 of the
Code of Public General Laws, title "Bills of Exchange and
Promissory Notes," said sections to be grouped in chapters
numbered from I to XVII, both inclusive, and said sections
to fpllow immediately after Section 12 of said Article, and
to be designated as Sections 13 to 208, both inclusive.
SECTION 1. Be it enacted by the General Assembly of Mary-
land, That certain new sections, grouped in chapters numbered
from I to XVII, both inclusive, be and the same are hereby
added to Article 13 of the Code of Public General Laws, title
"Bills of Exchange and Promissory Notes," to follow section
12 of said Article, to be designated as sections 13 to 208, both
inclusive, and to read as follows:

CHAPTER I.

GENERAL PROVISIONS.

Index to Chapter I.
18. Short title. 17. Time, how computed; when

14. Definition and meaning of terms. last day falls on holiday.

15. Person primarily liable on in 18. Application of chapter.

strument. 19. Rule of law merchant; when

16. Reasonable time, what Consti- governs,
tutes.

13. This Act shall be known as the Negotiable Instruments
Law.

14. In this Act, unless the. context otherwise requires:

"Acceptance" means an acceptance completed by delivery
or notification.

"Action" includes counter-claim and set-off.

"Bank" includes any person or association of persons carry-
ing on the business of banking, whether incorporated or not.

"Bearer" means the person in possession of a bill or note
which is payable to bearer.

"Bill" means bill of exchange, and "note" means negotiable
promissory note. 9

"Delivery" means transfer of possession, actual or construc-
tive, from one person to another.

"Holder" means the payee or endorsee of a bill or note,
who is in possession of it, or the bearer thereof.

" Indorsement" means an indorsement completed by de-
livery.