TITLE II. OF PROMISSORY NOTES, AND BILLS OF EXCHANGE. SEC. 1. Effect of promissory notes payable to order or bearer. 2. Same effect given to notes signed by an agent. 3. Word "person," to extend to corporations. 4. When actions by payees, endorsees and holders to be maintained. 6. Acceptances to be in writing and signed. 7. If acceptance on separate paper, when to bind acceptor. 8. When unconditional promise to accept, to be deemed acceptance. 9. Refusal to accept on bill, deemed refusal to accept. 10. Rights of drawers on previous promise to accept. 11. When destruction of bill or refusal to return it, deemed acceptance. 12. When registry of inhabitants of New-York to be kept by clerk. 13. Inhabitants to register names and places to which notices, &c. to be sent. 14. Drafts may be presented, and notices served, at place designated. 15. If registry not made, drafts may be presented to clerk. 16. And notices may be served by leaving at post-office. 17. When preceding provisions not to operate. 18. Rates of damages on non-payment of bills of exchange. 19. Damages in lieu of interest, &c. 20. If bill payable in money of U. S., rate of exchange not to be regarded. 21. If payable in foreign currency, amount due to depend on rate of exchange. 23. Purchasers of bills only to recover damages herein allowed. TITLE 2 [768] ble order or to bearer, S 1. All notes in writing, made and signed by any person, Promissory whereby he shall promise to pay to any other person, or his notes payaorder, or to the order of any other person, or unto the bearer, orgotiable. any sum of money therein mentioned, shall be due and payable, as therein expressed; and shall have the same effect, and Their effect be negotiable in like manner, as inland bills of exchange, according to the custom of merchants. 1 R. L., 151; 6 N. Y., 29; 2 Hilt., 527. by arent. $2. Every such note, signed by the agent of any person, Signature under a general or special authority, shall bind such person, and shall have the same effect, and be negotiable, as above provided. tions in S3. The word "person," in the two last preceding sections, Corpora shall be construed to extend to every corporation, capable by cluded." law of making contracts. 23 B., 176; 5 D., 577. dorsees and $4. The payees and endorsees of every such note payable Actions by to them or their order, and the holders of every such note arees, en payable to bearer, may maintain actions for the sums of money holders. therein mentioned, against the makers and endorsers of the same respectively, in like manner as in cases of inland bills of exchange, and not otherwise. payable to maker, &c. S5. Such notes, made payable to the order of the maker Effect when thereof, or to the order of a fictitious person, shall, if nego- order of tiated by the maker, have the same effect, and be of the same validity, as against the maker and all persons having knowledge of the facts, as if payable to bearer. 3 H., 115; 2 S. S. C., 138; 4 E. D. S., 85; 2 Du., 121. TITLE 2. Acceptances to be in writing, &c. Effect of acceptance paper. S 6. No person within this state shall be charged as an acceptor on a bill of exchange, unless his acceptance shall be in writing, signed by himself, or his lawful agent. 9 N. Y., 584; 8 N. Y., 398; 5 H., 413; 2 H., 583; 1 H., 84, 584; 5 Du, 377; 10 Ab., 59. $7. If such acceptance be written on a paper, other than on separate the bill, it shall not bind the acceptor, except in favor of a person to whom such acceptance shall have been shown, and who, on the faith thereof, shall have received the bill for a valuable consideration. Written accept. 9 N. Y., 441. $ 8. An unconditional promise, in writing, to accept a bill promises to before it is drawn, shall be deemed an actual acceptance, in favor of every person who, upon the faith thereof, shall have received the bill for a valuable consideration. Refusal to accept on bill. Rights of drawers in certain cases, not 9 N. Y., 441; 5 H., 432; 5 Du., 583; 17 W., 508. S9. Every holder of a bill, presenting the same for acceptance may require that the acceptance be written on the bill. A refusal to comply with such request, shall be deemed a refusal to accept, and the bill may be protested for nonacceptance. $10. The four last sections shall not be construed to impair the right of any person, to whom a promise to accept a bill, to be affect may have been made, and who, on the faith of such promise, shall have drawn or negotiated the bill, to recover damages of the party making such promise, on his refusal to accept such bill. ed. [769] Destroying bill or re turn it. 5 Du., 377, 583. $ 11. Every person, upon whom a bill of exchange is drawn, fusal to re- and to whom the same is delivered for acceptance, who shall destroy such bill, or refuse within twenty-four hours after such delivery, or within such other period as the holder may allow, to return the bill, accepted or non-accepted, to the holder, shall be deemed to have accepted the same. when acceptance. In case of New try of in be kept by clerk. $ 12. Whenever the board of health of the city of NewFestilence, York, or any other competent authority, shall, by public York, regis- notice, designate any portion or district of the said city as habitants to being the seat of any infectious or contagious disease, and declare communication with such portion or district dangerous, or shall prohibit such communication, it shall be the duty of the clerk of the said city and county, during the continuance of such disease in such district, to provide and keep in his office a book, for the purpose of registering in alphabetical order, the names, firms, and places of business of any inhabitant of the city, who shall desire such registry to be made. Laws of 1826, 12, § 1 & 2. Inhabitants names, and S13. It shall be the duty of all persons and firms usually resident, or doing business, within such infected district, to register in the book so provided by the said clerk, their names or firms, with the place or places out of such infected TITLE 2. district, but within the county of New-York, to which they may have removed the transaction of their business, or to which they may desire any notices to be sent or served, or any notes, drafts or bills, to be presented for acceptance or for payment. The sum of twenty-five cents may be claimed Fee of clerk. and received by the said clerk for every such registry; but Register the book in which the same shall be entered, shall be, at all amined times during office hours, open to public examination, free of all charges. may be ex gratis. ances, &c., manded. $ 14. During the continuance of any such disease in such Acceptinfected district, all drafts, notes and bills which by law are may be de required to be presented for acceptance or for payment, may be presented for such purpose at the place so designated in such registry; and all notices of non-acceptance and of non- Notices, payment, of any note, draft or bill, or of protest, for such served at non-acceptance or non-payment, may be served by leaving place. the same, at the place so designated. &c.. may be designated not made, drafts, &c., sented to may be pre clerk. $15. In case any person or firm, usually resident or doing If registry, business within such infected district, shall neglect to make and cause to be entered in the book so provided, the registry herein required, all notes, drafts or bills, which by law are required to be presented to such person or firm for acceptance or for payment, may be presented to the said clerk of the city and county of New-York, during the continuance of such disease, at any time during office hours, and demand of acceptance or payment thereof, may be made of the said clerk, to the same purpose and with the same effect, as if the same had been presented, and acceptance or payment demanded, of such person or firm, at their usual place of doing business. $ 16. In case of the omission to make the registry herein required, all notices of the non-acceptance or non-payment of any note, draft or bill, or of protest for such non-acceptance or non-payment, may be served on any person or firm, usually resident or doing business within such infected district, by leaving the same at the post-office for the said city of NewYork; which service shall be as valid and effectual, as if the notices had been served personally, on such person, or one of such firm, at his or their usual place of doing business. Laws of 1823, 268. (770) And no may be left tices, &c., at post once. When pesdeemed to tilence have sub $17. Whenever proclamation shall be made by the board of health, or other proper authority of the city of New-York, that an infectious or contagious disease in any such infected sided. district, has subsided, it shall be deemed to have subsided, for all the purposes contemplated in this Title. Laws of 1826, 12, § 1 & 2. non-pay 18. The rate of damages to be allowed and paid upon the Damages on usual protest for non-payment of bills of exchange, drawn or ment of negotiated within this state, shall, in the following cases, be bills. as follows: TITLE 2. Bills on cer ern and 1. If such bill shall have been drawn upon any person or tain north- persons at any place in either of the states of Maine, NewHampshire, Vermont, Massachusetts, Rhode-Island, Connecticut, New-Jersey, Pennsylvania, Ohio, Delaware, Maryland or Virginia, or in the district of Columbia, three dollars upon the hundred, upon the principal sum specified in such bill; western states. On certain southern states. 2. If such bill shall have been drawn upon any person or and western persons at any place in either of the states of North-Carolina, South-Carolina, Georgia, Kentucky or Tennessee, five dollars upon the hundred, upon the principal sum specified in such bill: On other states and places on this continent, &c. Bills on Europe. Damages to be in lieu of certain in charges, &c. [771] No reference to rate of exchange when bill 3. If such bill be drawn upon any person or persons at any place, in any other state or territory of the United States, or at any other place on, or adjacent to, this continent and north of the equator, or in any British or other foreign possessions in the West Indies, or elsewhere in the Western Atlantic ocean, ten dollars upon the hundred, upon the principal sum specified in such bill: Laws of 1819, 34. 4. If such bill shall have been drawn upon any person or persons at any port or place in Europe, ten dollars upon the hundred, upon the principal sum specified in such bill. 3 How. P. R., 60. $ 19. Such damages shall be in lieu of interest, charges of protest, and all other charges incurred previous to and at the time of giving notice of non-payment; but the holder of such bill shall be entitled to demand and recover lawful interest upon the aggregate amount of the principal sum specified in such bill, and of the damages thereon, from the time at which notice of protest for non-payment, shall have been given, and payment of such principal sum, shall have been demanded. $20. If the contents of such bill be expressed in the money of account of the United States, the amount due thereon, and of the damages herein allowed for the non-payment payable in thereof, shall be ascertained and determined, without any reference to the rate of exchange, existing between this state and the place on which such bill shall have been drawn, at the time of the demand of payment, or of notice of nonpayment. money of U. States. Otherwise when pay. eign cur rency. Laws of 1819, 34. S21. If the contents of such bill be expressed in the money able in for- of account or currency of any foreign country, then the amount due, exclusive of the damages payable thereon, shall be ascertained and determined by the rate of exchange, or the value of such foreign currency, at the time of the demand of payment. Damages on non-ac 2 Hilt., 83. S22. Where a bill of exchange shall be protested for nonceptance of acceptance, the same rate of damages shall be allowed on the protest for non-acceptance, as provided in the four last bills. sections; and shall be in lieu of interest, charges of protest, and all other charges incurred previous to, and at the time of giving notice of non-acceptance; but the holder shall be entitled to recover interest upon the aggregate amount of the principal sum specified in the bill and of the damages thereon, from the time at which notice of protest for non-acceptance shall have been given. TITLE 3. cover such $ 23. The damages allowed by this Title, shall be recovered Who to re. only by the holder of a bill who shall have purchased the damages. same, or some interest therein, for a valuable consideration. Act concerning the Revised Statutes, passed December 10, 1828, § 15, See Laws of 1835, ch. 141; 1849, ch. 261; 1857, ch. 416. TITLE II, OF THE INTEREST OF MONEY. SEC. 1. Rate of interest to continue at seven per cent. 2. Prohibition against taking greater interest. 3. Persons paying greater interest may recover it back. 4. When superintendents and overseers of poor may recover excess. 5. Contracts, &c. for greater rate, void; except negotiable instruments in certain cases. 6. Offenders compelled to answer bills of discovery. 7. Discovery and return of excess, to exonerate from further penalty. 8. Party filing bill not to pay interest on sum loaned; nor to pay principal. 9. How months and days to be considered in casting interest. 10. Interest to be calculated by the year, when no time is stated. cent to be S 1. The rate of interest upon the loan or forbearance of Seven per any money, goods or things in action, shall continue to be rate of inteseven dollars upon one hundred dollars for one year, and rest. after that rate for a greater or less sum, or for a longer or shorter time. 1 R. L., 64, § 1 & 2; 12 N. Y., 223; 8 N. Y., 148; 3 N. Y., 502; 32 B., [772] Greater in S2. No person or corporation shall, directly or indirectly, take or receive in money, goods or things in action, or in any terest proother way, any greater sum or greater value, for the loan or hibited. forbearance of any money, goods or things in action, than is above prescribed. 21 N. Y., 219, 531; 14 N. Y., 94; 12 N. Y., 229; 9 N. Y., 243; 7 N. Covered year. S3. Every person who, for any such loan or forbearance, Excess paid shall pay or deliver any greater sum or value than is above may be reallowed to be received, and his personal representatives, may back in one recover in an action against the person who shall have taken or received the same, and his personal representatives, the amount of the money so paid or value delivered, above |