Sec. 84. Liability of person secondarily liable, when instrument dishonored.

- Subject to the provisions of this Act, when the instrument is DISHONOR D b! non-p"!ment, "n imme#i"te ri$ht of recourse, to "%% p"rties secon#"ri%! %i"b%e thereon, "ccrues to the ho%#er. Sec. 8&. Time of maturity. - ver! ne$oti"b%e instrument, is p"!"b%e "t the time fi'e# therein without $r"ce. (hen the #"! of m"turit! f"%%s upon Sun#"!, or " ho%i#"!, the instruments f"%%in$ #ue, or becomin$ p"!"b%e on S"tur#"!, "re to be presente# for p"!ment, on the ne't succee#in$ business #"!, e'cept th"t instruments p"!"b%e on #em"n# m"!, "t the option of the ho%#er, be presente# for p"!ment, before twe%ve o)c%oc* noon on S"tur#"!, when th"t entire #"! is not " ho%i#"!. Sec. 8+. Time; how computed. - (hen the instrument is p"!"b%e "t " fi'e# perio# "fter #"te, "fter si$ht, or "fter th"t h"ppenin$ of " specifie# event, the time of p"!ment is #etermine#, b! e'c%u#in$ the #"! from which the time is to be$in to run, "n# b! inc%u#in$ the #"te of p"!ment. Sec. 8,. Rule where instrument payable at bank. - (here the instrument is m"#e p"!"b%e "t " b"n*, it is e-uiv"%ent to "n or#er to the b"n* to p"! the s"me, for the "ccount of the princip"% #ebtor thereon. Sec. 88. What constitutes payment in due course. - ."!ment is m"#e in #ue course when it is m"#e "t, or "fter the m"turit! of the p"!ment, to the ho%#er thereof, in $oo# f"ith, "n# without notice, th"t his tit%e is #efective. herein otherwise provi#e#, when " ne$oti"b%e instrument h"s been #ishonore# b! non-"ccept"nce or non-p"!ment, notice of #ishonor must be $iven to the #r"wer "n# to e"ch in#orser, "n# "n! #r"wer or in#orser to whom such notice is not $iven is #isch"r$e#. Sec. /0. By whom given. - 1he notice m"! be $iven b!, or on beh"%f of the ho%#er, or b! or on beh"%f of "n! p"rt! to the instrument, who mi$ht be compe%%e# to p"! it to the ho%#er, "n# who, upon t"*in$ it up, wou%# h"ve " ri$ht to reimbursement. from the p"rt! to whom the notice is $iven. Sec. /2. otice given by agent. - Notice of #ishonor m"! be $iven b! "n! "$ent either in his own n"me or in the n"me of "n! p"rt! entit%e# to $iven notice, whether th"t p"rt! be his princip"% or

not. Sec. /3. !""ect of notice on behalf of holder. - (here notice is $iven b! or on beh"%f of the ho%#er, it inures to the bene44t of "%% subse-uent ho%#ers "n# "%% prior p"rties who h"ve " ri$ht of recourse "$"inst the p"rt! to whom it is $iven. Sec. /5. !""ect where notice is given by party entitled thereto. (here notice is $iven b! or on beh"%f of " p"rt! entit%e# to $ive notice, it inures to the bene44t of the ho%#er "n# "%% p"rties subse-uent to the p"rt! to whom notice is $iven. cchhaannrroobblleess llaaww Sec. /4. When agent may give notice. - (here the instrument h"s been #ishonore# in the h"n#s of "n "$ent, he m"! either himse%f $ive notice to the p"rties %i"b%e thereon, or he m"! $ive notice to his princip"%. If he $ives notice to his princip"%, he must #o so within the s"me time "s if he were the ho%#er, "n# the princip"%, upon the receipt of such notice, h"s himse%f the s"me time for $ivin$ notice "s if the "$ent h"# been "n in#epen#ent ho%#er. Sec. /&. When notice su""cient. - A written notice nee# not be si$ne# "n# "n insu44cient written notice m"! be supp%emente# "n# v"%i#"te# b! verb"% communic"tion. A mis#escription of the instrument #oes not viti"te the notice un%ess the p"rt! to whom the notice is $iven is in f"ct mis%e# thereb!. Sec. /+. #orm of notice. - 1he notice m"! be in writin$ or mere%! or"% "n# m"! be $iven in "n! terms which su44cient%! i#entif! the instrument, "n# in#ic"te th"t it h"s been #ishonore# b! non-"ccept"nce or non-p"!ment. It m"! in "%% c"ses be $iven b! #e%iverin$ it person"%%! or throu$h the m"i%s. Sec. /,. To whom notice may be given. - Notice of #ishonor m"! be $iven either to the p"rt! himse%f or to his "$ent in th"t beh"%f. Sec. /8. otice where party is dead. $ (hen "n! p"rt! is #e"# "n#