A year for those payable on the western coasts of Africa, as far as, and including the Cape of Good Hope, and in the West Indies.

Two years for those payable in the East Indies.

These periods of delay are allowed in the same proportions, for pursuing the remedy against the drawers and indorsers residing in the French possessions situated out of Europe.

The above mentioned delays, of six months, a year, and two years, are allowed to be doubled in time of maritime war. ART. 167. If the holder pursue his remedy against the indorsers and drawer jointly, he is allowed, with respect to each of them, the period of delay determined by the preceding articles.

Each of the indorsers has the right of pursuing the same remedy, either individually or jointly, within the same period of delay,

In respect to them, the time allowed begins to run from the day after the service of judicial citation.

ART. 168. After the expiration of the above mentioned periods of delay,

For the presentment of a bill of exchange at sight, or at one or more days, or months, or usances, after sight,

For the protest of non-payment,

For the action against the sureties,

The holder of a bill of exchange is barred of all rights against the indorsers.

ART. 169. The indorsers are equally barred from all remedy against prior indorsers, after the expiration of the above periods of delay, each as it respects himself.

ART. 170. The same exception to the right of action of the holder and the indorsers is allowed with respect to the drawer himself, if the latter prove that provision was made for the payment of the bill at its maturity.

The holder in this case preserves his right of action only against the person on whom the bill was drawn.

ART. 171. The effect of the exception or bar to the right of action pronounced in the three preceding articles, ceases in favor of the holder against the drawer, or against any of the indorsers who, after the expiration of the periods of delay fixed for the protest, the notice of protest, or the commencement of the suit, has received in account, as set-off, or otherwise, the funds destined for the payment of the bill of exchange.

ART. 172. Independently of the formalities prescribed for pursuing the remedy against the sureties, the holder of a bill of exchange protested for non-payment, may, by obtaining the permission of the judge, attach conservatively the personal property of the drawer, acceptors and indorsers.

Sec. 12. OF PROTESTS.

ART. 173. The protest for non-acceptance, or non-payment, is made by two notaries, or by one notary and two witnesses, or by a bailiff and two witnesses.

The protest must be made,

At the domicil of the person on whom the bill was drawn, or at his last known place of residence;

At the domicil of the person mentioned in the bill of exchange, who is to pay it in case of need;

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At the domicil of the acceptor supra protest.

The whole is a single instrument of writing.

In case of false indication of domicil, the protest is preceded by certificate of perquisition or inquiry. ART. 174. The protest contains,

The literal copy of the bill of exchange, the acceptance, indorsements, and directions therein mentioned;

The demand of payment of the bill of exchange.

It declares the presence or absence of the person who ought to pay it.

The motives of refusing payment, and the inability or refusal to sign.

ART. 175. No act on the part of the holder of the bill can supply the place of the protest, except in the cases provided for by article 150, and following, concerning the loss of a bill of exchange.

ART. 176. The notaries and bailiffs are bound, under the penalty of loss of office, and of costs and damages to the parties, to take an exact copy of the protests, and to transcribe them at length, day by day, and in the order of the dates, in a particular register, marked and certified, and kept in the forms prescribed for books of record.

ART. 177.

Sec. 13. OF RE-EXCHANGE.

Re-exchange results from the act of re-drawing. ART. 178. Re-drawing is when the holder of a bill pro

tested draws another bill on the drawer, or one or more of the indorsers, of the former bill, to reimburse himself for the principal of the bill protested, his expenses, and the new exchange which he pays.

ART. 179. Re-exchange is regulated, with respect to the drawer, by the current rate of exchange at the place where the bill was payable, on the place whence it was drawn.

It is regulated with respect to the indorsers, by the rate of exchange at the place where the bill has been remitted or negotiated by them, on the place where the reimbursement is to be effected.

ART. 180. The bill re-drawn is accompanied by the return

account.

ART. 181. The return account contains,

The amount of the bill protested;

The expenses of protest, and other lawful charges, such as banker's commission, brokerage, stamp duties, and postage of letters.

It mentions the name of the person on whom the bill for reimbursement is drawn, and the rate of exchange at which it is negotiated.

It is certified by an exchange agent.

In places where there are no exchange agents, it is certified by two merchants.

It is accompanied with the bill of exchange protested, the protest, or a certified copy of it.

In case the bill for reimbursement be drawn on one of the indorsers, it is accompanied besides with a certificate attesting the course of exchange at the place where the bill protested was payable, on the place whence it was drawn.

ART. 182. There can be made only one return ac- 783 count on the same bill of exchange.

This return account is reimbursed from indorser to indorser, and finally by the drawer.

ART. 183. The re-exchanges cannot be accumulated.

Each indorser, as well as the drawer, is charged with only one.

ART. 184. Interest on the principal of the bill of exchange protested for non-payment, is due from the date of the protest.

Art. 185. Interest on the expenses of protest, re-exchange,

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and other lawful charges, is due only from the day of judicial demand.

ART. 186. No re-exchange is due, if the return account be not accompanied with the certificates of an exchange agent, or of merchants, as prescribed in article 181.

SECTION II. OF PROMISSORY NOTES.

ART. 187. All the provisions relative to bills of exchange, and concerning,

Are applicable to promissory notes without prejudice to the regulations relative to the cases provided for by articles 636, 637 and 638 of title 2, book IV.

ART. 188. Promissory notes are dated.

They mention,

The sum to be paid,

The name of the person to whose order they are made,
The time of payment,

The value received, whether in money, in merchandise, on account or in any other manner.

SECTION III. OF LIMITATIONS OF ACTIONS.

ART. 189. All actions relative to bills of exchange and promissory notes, signed by merchants, traders or bankers, or for commercial transactions, are limited to five years, 784 counting from the day of the protest, or from that of the last judicial proceeding, if there has been no judgment, or if the debt has not been acknowledged by a separate instrument in writing.

Nevertheless, persons presumed to be debtors shall be bound, if required, to declare under oath, that they are no longer indebted; and their widows, heirs or assigns, that they verily believe that nothing remains due.

INDEX.

[THE REFERENCES ARE TO THE SECTIONS.]

A.

ABSCONDING, by maker of a note, demand, 184, 185.
by the drawee of a bill, 533.

presentment where maker or acceptor has absconded,

669.

diligence to find address of party, sufficient, when, 865.

ABSENCE, of maker of note from the state, 184, 185.
or from his residence, 184, 185.

in case of guaranty, 333, 335.

ACCEPTANCE, when qualified, effect of, 156-160, 536, 596.
contract of, 564.

who may accept, 564.

duty of drawee to accept, not a legal duty, 564.

of checks by certifying them, 565.

when a written promise is an, 567, 568.

may be by telegraph, when, 567.

by parol, when may be, 569.

by a written promise, 570, 571.

statutes of New York on the subject, 570.

design and requirements of, 570–578.
must be signed by acceptor or agent, 571.

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