PAYMENT-Continued.

if note names no place oi, 448.

endorser liable only after presentment for, 452.
maker of note primarily liable for, 453.

PENALTY for omitting "given for a patent right," 41.
under Money Lenders' Act, 91.

company omitting word "limited," 138.

officers of company neglecting liable for, 138.

for issuing notes to circulate as money, 435.

PENCIL, writing may be in, 46.

signature may be in, 49, 205.

PERSON defined, 28, 48, 54.

fictitious, 49, 54, 69, 70, 76, 86, 242, 259.

bill payable to, negotiable, 78.

PERSONAL DEFENCES, holder in due course free from, 229.
PERSONAL LIABILITY, when party does not incur, 157.

of agent, 157, 158.

of officers of corporations, 105, 158.

difference between bills and notes, 105, 159, 453.
of executors, administrators, tutors, etc., 162.
endorsement to negative, 204, 208.

PERSONAL REPRESENTATIVE.

on death of holder bill passes to, 201.
presentment to, of dead drawee, 241, 252.

acceptor, 252.

should give notice of dishonour, 272.

notice to, of dead drawer or endorser, 272.
PLACE, bill valid without stating where drawn, 88.
payable, 88.

of payment not named, payable generally, 88.

may be payable where drawn, 88.

not qualified acceptance to pay at specified, 116.

of payment sufficient without "not elsewhere," 117.
place of payment named by acceptor, 117.

of business, bill not payable at, 236.

bill presented at the proper, 253.

of payment named in bill or acceptance, 253.

when alternative places are named, 254.

of payment not specified, 254, 256.

of business, presentment at last known, 254.
presentment at proper, sufficient, 255.
presentment at post office, 256.

of protest, 301.

of issue of bill determines form, 384.

of payment not named, when acceptor liable, 261.

named, liability of acceptor, 262.

of payment, alteration of, material, 369, 370.
adding to bill, material alteration, 370.
law of, 131, 394.

governs duties of holder, 394.

due date, 395.

law of, governs due date, 395.

note must be presented at, 447.

named in note, when endorser liable, 451.

PLEDGE, holder of bill as, 175-See Lien.

discounter of bills is not pledgee but owner, 177.
of collateral security, note may contain, 438.
POSSESSION, bearer is person in, 23.

delivery is transfer of, 24.

actual and constructive, 24.

holder is payee or endorsee in, 24.

person may hold bill as an escrow, 121.

by holder in due course, 123.

delivery is presumed from transfer of, 124.
gives right to sue, 227.

necessary before action, 227, 229.

adversely to real owner, 229.

POST-DATED instruments valid, 88.

cheque equivalent to a bill, 89.

not an irregularity, 402.

POST OFFICE, when presentment made through, 241, 256.
presentment to be made at, 256.

notice of dishonour deposited in, 281, 285.
sender not liable for miscarriage by, 285.
letter in, belongs to party addressed, 286.

POTHIER, Contrat de Change.

cited for old French law, v.

based on Commercial Ordinance, 8.

See Ancient French Law.

POWER OF ATTORNEY-See Procuration.

PREMATURE presentment for payment a nullity, 249.
payment before maturity not a discharge, 337.
PRESCRIPTION-See Statute of Limitations.

law differs in different provinces, 17, 344.
Quebec 5 years, 17, 344.

absolutely extinguishes debt, 344.

interruption of, by written acknowledgment, 345.
runs against persons without capacity, 345.
how reckoned in case of conflict, 345.

English Statutes in Canada, 345.

in Ontario, Nova Scotia and New Brunswick, 346.

PRESCRIPTION—Continued.

writing to take case out of statute, 346.
when statute begins to run, 346.

Chalmers' five rules for England, 347.

of notarial note en 'brevet, 349.

governed by lex fori, 349.

PRESENTATION, payable on, is payable on demand, 79.
protest, prima facie evidence of, 37, 38.

costs of action before, discretionary, 262.
PRESENTMENT FOR ACCEPTANCE.

when acceptance dates as of first presentment, 112.
when necessary, to fix maturity, 234.

to whom, should be made, 235.

as to bills payable at or after sight, 237.

effect of omission of, 237.

discharge of drawer and endorser for want of, 237.
rules as to, 240.

by or on behalf of holder, 240.

to drawee at reasonable hour, 240.

before bill overdue, 240.

to all drawees not partners, 241.

to personal representative if drawee dead, 241.

when made through post office, 241.

is excused if drawee dead, 242.

fictitious, 242.

if impossible, 242.

when not excused, 243.

governed by law of place where presented, 394.
abroad, proved by notarial copy of protest, 38.
of cheque may discharge drawer, 407, 409.

delay in, 414.

provisions as to, not applicable to notes, 455.

PRESENTMENT FOR PAYMENT, when not necessary, 245.
must be duly made, 247.

drawer and endorsers discharged unless, 247.

bill to be exhibited, 248.

not necessary as against acceptor, 248.

rules as to, 249.

time for, when bill not payable on demand, 249.

payable on demand, 250.

made by holder or by his authority, 250.

at the proper place, 250.

PRESENTMENT FOR PAYMENT-Continued.

to payer or his representative, 250.

hour may depend on place, 251.

at place specified in bill or acceptance, 253.

when no place specified, 254.

when at address of drawee or acceptor, 254.

when at place of business of drawee or acceptor, 254.
when to drawee or acceptor anywhere, 254.

at proper place, when sufficient, 255.

to all drawees or acceptors not partners, 252.

to representative of dead drawee or acceptor, 252.
when through post office, 256.

at post office, 256.

when delay in, excused, 257.

should be made when cause ceases, 257.

dispensed with when impossible, 258.

when drawee is fictitious, 259.

as regards the drawer, 259.

an endorser, 259.

by waiver express or implied, 260.

and refusal dishonours bill, 264.

acceptor liable without, if no place named, 261.
to acceptor for honour, 263.

delay excused in, 264.

governed by law of place where payable, 394.

time for, governed by law of place where payable, 395.
of cheque in reasonable time, 414.

after countermand, 418.

death of customer, 418.

of note payable on demand, 444, 445.

at a particular place, 447.

action on note before, costs discretionary, 448.
of note necessary to hold endorser, 451.
PRESUMPTION, legal or disputable, 123, 124.

of delivery from possession, 124.

that bill is inland, 85.

acceptance shortly after date, 97.
date of bill is correct, 95.

acceptance is correct, 95.
inchoate bill filled up properly, 98.

party is party for value, 193.
holder is holder in due course, 193.
endorsements are in proper order, 209.
were before maturity, 225.

that cancellation is regular, 365.

in favor of good faith, 29, 183.

PRESUMPTION-Continued.

conclusive, or juris et de jure, 123.

when valid delivery conclusively presumed,
124.

PRIMA FACIE EVIDENCE, protest is, 37, 38.

PRINCE EDWARD ISLAND, law of England in, 14, 17.

provincial legislation, 14.

qualified acceptance, 117.

note payable at a particular place, 422.
tariff of fees for protest in, 307.

PRINCIPAL AND AGENT-See also Agent.
undisclosed principal not liable on bill, 317.
signature by procuration, 152.

rule when doubtful who is liable, 157, 163.
restrictive endorser and endorsee like, 216.
notice of dishonour to either is valid, 273.

by either is valid, 275.
when dishonoured bill in hands of an agent, 278.
PRINCIPAL AND SURETY.

renunciation where such relation exists, 359.
effect of composition with principal, 359.
discharge of principal releases surety, 359.
unless rights are reserved, 359.

what parties stand in such relation, 360.
parol evidence may show true relation, 360.
extinction of suretyship in Quebec, 360.
effect of delay given to principal, 360.

illustrations as to, 361.

taking renewal from principal, 362.
PRINTED, signature may be, 50.

PROCEDURE, provincial laws of, affect bills and notes, 2.
action, counterclaim, set-off, 21.

cross-demană in Quebec, 22.

defence and counterclaim, 27.

defence in case of patent rights, 40.
Quebec Code of Civil, cited, 22, 27, 128.

PROCLAMATION of holiday, etc., 127.

of Oct. 7th, 1763, 8, 10.

PROCURATION, operation of signature by, 152.

how bills by, should be signed, 153.

See Agent.

PROHIBITION of transfer, instrument valid but not negotiable,

64.

PROMISE TO ACCEPT, is not an acceptance, 110.

promissor may be liable on contract or by estoppel, 110.
verbal, invalid where verbal acceptance valid, 111.