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Business Law

uld be treated as dishonored. On the refusal to accept, even within the twenty-four hours, it should be protested. The acceptance may be made after the bill is drawn, and before it becomes due or after the time appointed for payment and even after refusal to accept so as to bind the acceptor. The acceptance may also be made supra protest, which is the acceptance of the bill, after protest for non-acceptance by the drawee, for the honor of the drawer, or a particular endorser. When a bill has been accepted supra protest for the honor of one party to the bill, it may be accepted supra protest, by another individual, for the honor of another. As to the form of the acceptance, it is clearly established it may be in writing on the bill itself, or on another paper, or it may be verbal; or it may be expressed or implied. An express acceptance is an agreement in direct and express terms to pay a bill of exchange, either by the party on whom it is drawn, or by some other person, for the honor of some of the parties. It is Usually in the words accepted or accepts, but other express words showing an engagement to pay the bill will be equally binding. An implied acceptance is an agreement to pay a bill, not by direct and express terms, but by any acts of the party from which an express agreement may be fairly inferred. For example, if the drawee writes 'seen,' 'presented,' or any, other thing upon it, (as the day on which it becomes due,) this, unless explained by other circumstances, will constitute an acceptance. An acceptance in regard to its extent and effect, may be either absolute, conditional, or partial. An absolute acceptance is a positive engagement to pay the bill according to its tenor, and is usually made by writing on the bill ' accepted,' and subscribing the drawee's name; or by merely writing his name either at the bottom or across the bill. But in order to bind another than the drawee, it is requisite his name should appear. A cond...

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