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holder being entitled to recover so much money as will C. C. 2338. be sufficient to purchase another bill drawn on the same place and at the same term for a like amount, together with the damages and interest and also the expenses of noting and protesting and of postages thereon.—Ib. s. 1, § 2.

2338. When notice of the protest of a bill returned for non-payment is given by the holder thereof to any party secondarily liable upon it, in person or by writing delivered to a grown person at his counting-house, or dwelling-house, and they disagree as to the rate of exchange, the holder and the party notified appoint each an arbitrator to determine the rate; these in case of disagreement appoint a third, and the decision of any two of them given in writing to the holder is conclusive as to the rate of exchange, and regulates the sum to be paid accordingly.Ib. s. 2.

2339. If either the holder or the party notified, as provided in the last preceding article, fail, for the space of forty-eight hours after the notification, to name an arbitrator on his behalf, the decision of the single arbitrator on the other part is conclusive.-Ib. s. 2, $ 2.

SECTION 9.

General provisions.

2340. In all matters relating to bills of exchange not provided for in this code recourse must be had to the laws of England in force on the thirtieth day of May, one thousand eight hundred and forty-nine.-Ib. s. 30.

2341. In the investigation of facts, in actions or suits founded on bills of exchange drawn or indorsed either by traders or other persons, recourse must be had to the laws of England in force at the time specified in the

C. C. 2342. last preceding article, and no additional or different

evidence is required or can be adduced by reason of any party to the bill not being a trader.—Ib. 8. 30, $ 2; C. 1246.

2342. The parties in the actions or suits specified in the last preceding article may be examined under oath as provided in the title Of Obligations.—Ib. s. 30, $ 3.

2343. The rules concerning the prescription of bills of exchange are contained in the title Of Prescription. -C. 2260.

CHAPTER SECOND.

OF PROMISSORY NOTES.

2344. A promissory note is a written promise for the payment of money at all events, and without any condition. It must contain the signature or name of the maker and be for the payment of a specific sum of money only. It may be in any form of words consistent with the foregoing rules.-Poth. Ch. n. 216; 2 Par. n. 478; Bay. B. 1; Sto. P. N. n. 1; C. 2279.

2345. The parties to a promissory note at the time of making it are the maker and the payee. The maker is subject to the same obligations as the acceptor of a bill of exchange.--Bay. B. 169; Sto. P. N. n. 4; C. S.L.C. c. 64.

2346. The provisions concerning bills of exchange contained in this title apply to promissory notes when they relate to the following subjects, viz.: 1. The indication of the payee; 2. The time and place of payment; 3. The expression of valve; 4. The liability of the parties; 5. Negotiation by indorsement or delivery; 6. Presentment and payment; 7. Protest for non-payment and notice; 8. Interest, commission, or usury: 9. The law and the rules of evidence to be applied; 10. Prescription.

2347. Parties liable on promissory notes made payable C. C. 2347. on demand are not entitled to days of grace for the payment thereof.—C. S. L. C. c. 64, s. 6, § 2.

2348. The making, circulation, and payment of bank notes are regulated by the provisions of a statute in. tituled: An act respecting banks and freedom of banking and by the special acts of incorporation of the banks respectively.-C. S. C. c. 55.

CHAPTER THIRD.

OF CHEQUES.

2349. A cheque is a written order upon a bank or banker for the payment of money.

It may be made payable to a particular person, or to order, or to bearer, and is negotiable in the same manner as bills of exchange and promissory notes.—Chit. B. 545, Chit. & H. 21; Ros. B. 9; 2 Par. 464-467; Sto. P. N. n. 488, 490, 491.

2350. Cheques are payable on presentment, without days of grace.-Author. under a. 2349.

2351. The holder of a cheque is not bound to present it for acceptance apart from payment; nevertheless, if it be accepted, he has a direct action against the bank or banker, without prejudice to his claim against the drawer, either upon the cheque or for the debt on account of which it was received.-Poth. Ch. n. 230, 232; Sto. P. N. n. 494.

2352. If the cheque be not presented for payment within a reasonable time, and the bank fail between the delivery of the cheque and such presentment, the drawer or indorser will be discharged to the extent of the loss he suffers thereby.-Poth. Ch. n. 229; Chit. & H. 32, 48; Sto. P. N. n. 493, 498; 3 Kt. Com. 104, n. D.; C. 2323.

C. C. 2353.

2353. Subject to the provisions contained in the last preceding article, the holder of a cheque who has received it from the drawer, may upon refusal of payment by the bank or banker return it to the drawer with reasonable diligence, and recover the debt for which it was given, or he may retain the cheque and recover upon it without protest.-If the cheque be received from any other party than the drawer, the holder may in like manner return it to such party, or he may recover from the parties whose names are upon it as in the case of an inland bill of exchange.-Poth. Ch. n. 229; 1 Sav. 238, 244; 2 Ib. 166, 169, 715, 719, 745, 748; Sto. P. N. n. 498.

2354. In the absence of special provisions in this section, cheques are subject to the rules concerning inland bills of exchange in so far as their application is consistent with the usage of trade.-1 Chit. & H. 24; Ros. B. 9; Sm. M. L. 206; 3 Kt. Com. 75, 77; Sto. P. N. n. 488, 489.

C. C. 1232.

CIVIL CODE OF LOWER CANADA.

(IN FORCE)

ARTICLE 1232.—Testimony given by a party in a suit cannot avail in his favor. A witness is not rendered incompetent by reason of relationship or of being interested in the suit, but his credibility may be affected thereby.

The following has been added by the Quebec Statute, 54 Vict. c. 45, s. 1:- Notwithstanding that which precedes, any party to a suit may give testimony on his own behalf in every matter of a commercial nature; but his credibility may be affected thereby.

See also Arts. 2341, 2342 ante pp. 499-500.

CODE OF CIVIL PROCEDURE

(IN FORCE SINCE JUNE 28TH, 1867.)

ARTICLE 89.--If, in any action founded upon a bill of exchange, promissory note, cédule, cheque, act or private writing, the defendant fails to appear or to plead, judgment may be rendered out of term upon the written application of the plaintiff, without its being necessary to prove the signatures to such documents, or to make any other proof. C. S. L. C. c. 83, sg. 86, 113.

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