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be made as follows, as nearly as by reasonable diligence it is practicable:

1. The instrument must be presented by the holder.

2. The instrument must be presented to the principal debtor, if he can be found at the place where presentment should be made; and if not, then it must be presented to some other person having charge thereof, or employed therein, if one can be found there.

3. An instrument which specifies a place for its payment must be presented there; and if the place specified includes more than one house, then at the place of residence or business of the principal debtor, if it can be found therein.

4. An instrument which does not specify a place for its payment must be presented at the place of residence or business of the principal debtor, or wherever he may be found, at the option of the presentor; and,

5. The instrument must be presented upon the day of its maturity, or, if it be payable on demand, it may be presented upon any day. It must be presented within reasonable hours; and, if it be payable at a banking-house, within the usual banking hours of the vicinity, but, by the consent of the person to whom it should be presented, it may be presented at any hour of the day.

6. If the principal debtor have no place of business, or if his place of business or residence cannot, with reasonable diligence, be ascertained, presentment for payment is excused. En. March 21, 1872. Am'd. 1873-4, 263. Cal.Rep.Cit. 64, 413; 64, 422; 79, 229; 82, 33; 82, 34.

Subd. 5-107, 285.
See sec. 3132, infra.
Payable on demand: See secs. 3134, 3135, infra.

Presentment of bills of exchange for acceptance: See post, secs. 3185 et seq.

Presentment of bills of exchange for payment: See post, secs. 3211 et seq.

Bills of exchange, where payable: See post, sec. 3176. Reasonable diligence: Post, sec. 3158.

§ 3132. Apparent maturity, when. The apparent maturity of a negotiable instrument, payable at a particular time, is the day on which, by its terms, it becomes due, or when that is a holiday, the next business day. En. March 21, 1872.

Cal.Rep.Cit. 64, 412; 69, 144.
Apparent maturity: See post, secs. 3134, 3135.

3133. Presumptive dishonor of bill, payable after sight. A bill of exchange, payable at a certain time after sight, which is not accepted within ten days after its date, in addition to the time which would suffice, with ordinary diligence, to forward it for acceptance, is presumed to have been dishonored. En. March 21, 1872.

3134. Apparent maturity of bill, payable at sight. The apparent maturity of a bill of exchange payable at sight or on demand, is:

1. If it bears interest, one year after its date; or,

2. If it does not bear interest, ten days after its date, in addition to the time which would suffice, with ordinary diligence to forward it for acceptance. En. March 21, 1872.

Cal.Rep.Cit. 68, 548.

Mere delay in presentment does not exonerate: Post, sec. 3214. Presentment not made within the time, and not excused, exonerates drawer and indorsers: Post, sec. 3213. Rule modified in case of checks: Post, sec. 3255.

§ 3135. Apparent maturity of note. The apparent maturity of a promissory note payable at sight or on demand, is:

1. If it bears interest, one year after its date; or,

2. If it does not bear interest, six months after its date. En. March 21, 1872.

Cal.Rep.Cit. 74, 363; 74, 364; 79, 229; 82, 34; 98, 326.

Section 3214, post, applies also to promissory notes: See post, sec. 3247.

Presentment not made within the time, and not excused, exonerates the indorsers: Post, sec. 3248.

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$ 3136. Same. Where a promissory note is payable at a certain time after sight or demand, such time is to be added to the periods mentioned in the last section. En. March 21, 1872.

8 3137. Surrender of instrument, when a condition of payment. A party to a negotiable instrument may require, as a condition concurrent to its payment by him:

1. That the instrument be surrendered to him, unless it is lost or destroyed, or the holder has other claims upon

it; or,

2. If the holder has a right to retain the instrument and does retain it, then that a receipt for the amount paid, or an exoneration of the party paying, be written thereon; or,

3. If the instrument is lost or destroyed, then that the holder give to him a bond, executed by himself and two sufficient sureties, to indemnify him against any lawful claim thereon. En. March 21, 1872.

Cal.Rep.Cit. 82, 557.

ARTICLE V.

$ 3141.

3142. 3143. 3144.

3145. 4 3146.

3147. 3148. 3149. 3150. 3151.

DISHONOR OF NEGOTIABLE INSTRUMENTS.
Dishonor, what.
Notice, by whom given.
Form of notice.
Notice, how served.
Notice, how served after indorser's death.
Notice given in ignorance of death, valid.
Notice, when to be given.
Notice of dishonor, when to be mailed.
Notice, bow given by agent.
Additional time for notice by indorser.
Effect of notice of dishonor.

$3141. Dishonor, what. A negotiable instrument is dishonored, when it is either not paid, or not accepted, according to its tenor, on presentment for the purpose, or without presentment, where that is excused. En. March 21, 1872.

Presentment for acceptance: See post, sec. 3186.

Dishonor of bill by nonacceptance: Post, secs. 3187, 3188, 3194.

Damages allowed on dishonor of foreign bills of exchange: See, post, secs. 3234-3238.

$ 3142. Notice, by whom given. Notice of the dishonor of a negotiable instrument may be given:

1. By a holder thereof; or,

2. By any party to the instrument who might be compelled to pay it to the holder, and who would, upon taking it up, have a right to reimbursement from the party to whom the notice is given. En. March 21, 1872.

Cal.Rep.Cit. 55, 407.
Protest of bill of exchange: See post, sec. 3225.
Notice of protest: See post, sec. 3231.

Notice of dishonor to acceptor for honor: See secs. 3206, 3207.

$ 3143. Form of notice. A notice of dishonor may be given in any form which describes the instrument with reasonable certainty, and substantially informs the party receiving it that the instrument has been dishonored. En. March 21, 1872.

Cal.Rep.Cit. 55, 407; 57, 330.
Notice of dishonor of foreign bills of exchange: Sec. 3225.

8 3144. Notice, how served. A notice of dishonor may be given:

1. By delivering it to the party to be charged, personally at any place; or,

2. By delivering it to some person of discretion at the place of residence or business of such party, apparently acting for him; or,

3. By properly folding the notice, directing it to the party to be charged, at his place of residence, according to the best information that the person giving the notice can obtain, depositing it in the postoffice most conveniently accessible from the place where the presentment was made, and paying the postage thereon. En. March 21, 1872.

Cal.Rep.Cit. 57, 330; 62, 262; 63, 368; 86, 456.
Notary's protest as evidence: See Pol. Code, sec. 795.

Foreign bills of exchange, notice of dishonor, how given: See post, sec. 3231.

$ 3145. Notice, how served after indorser's death. In case of the death of a party to whom notice of dishonor should otherwise be given, the notice must be given to one of his personal representatives; or, if there are none, then to any member of his family who resided with him at his death; or, if there is none, then it must be mailed to his last place of residence, as prescribed by subdivision 3 of the last section. En. March 21, 1872.

Mi Rep.Cit. 99, 144.

$ 3146. Notice given in ignorance of death, valid. A notice of dishonor sent to a party after his death, but in ignorance thereof, and in good faith, is valid. En. March 21, 1872.

$ 3147. Notice, when to be given. Notice of dishonor, when given by the holder of an instrument or his agent, otherwise than by mail, must be given on the day of dishonor, or on the next business day thereafter. En. March 21, 1872.

$ 3148. Notice of dishonor, when to be mailed. When notice of dishonor is given by mail, it must be deposited in the postoffice in time for the first mail which closes after noon of the first business day succeeding the dishonor, and which leaves the place where the instrument was dishonored, for the place to which the notice should be sent. En. March 21, 1872.

$ 3149. Notice, how given by agent. When the holder of a negotiable instrument, at the time of its dishonor, is a mere agent for the owner, it is sufficient for him to give notice to his principal in the same manner as to an indorser, and his principal may give notice to any other party to be charged, as if he were himself an indorser. And if an agent of the owner employs a subagent, it is sufficient for each successive agent or subagent to give notice in like manner to his own principal. En. March 21, 1872.

$ 3150. Additional time for notice by indorser. Every party to a negotiable instrument, receiving notice of its dishonor, has the like time thereafter to give similar notice to prior parties as the original holder had after its dishonor. But this additional time is available only to the particular party entitled thereto. En. March 21, 1872.

$ 3151. Effect of notice of dishonor. A notice of the dishonor of a negotiable instrument, if valid in favor of the party giving it, enures to the benefit of all other parties thereto whose right to give the like notice has not then been lost. En. March 21, 1872.

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