Full legislation
s.68
Payment for honour supr à protest
(1)
Where a bill has been protested for non-payment, any person may intervene and
pay it
supr
à
protest, for the honour of any party liable thereon or for the honour of the person
for whose account the bill is drawn.
(2)
Where two or more persons offer to pay a bill for the honour of different
parties, the person whose payment will discharge most parties to the bill shall have
the preference.
(3)
Payment for honour
supr
à
protest, in order to operate as such and not as a mere voluntary payment, must be
attested by a notarial act of honour which may be appended to the protest or form an
extension of it.
(4)
The notarial act of honour must be founded on a declaration made by the payer
for honour, or his agent in that behalf, declaring his intention to pay the bill for
honour and for whose honour he pays.
(5)
Where a bill has been paid for honour, all parties subsequent to the party for
whose honour it is paid are discharged, but the payer for honour is subrogated for,
and succeeds to both the rights and duties of, the holder as regards the party for
whose honour he pays and all parties liable to that party.
(6)
The payer for honour, on paying to the holder the amount of the bill and the
notarial expenses incidental to its dishonour, is entitled to receive both the bill
itself and the protest. If the holder does not on demand deliver them up, he shall
be liable to the payer for honour in damages.
(7)
Where the holder of a bill refuses to receive payment
supr
à
protest, he shall lose his right of recourse against any party who would have been
discharged by such payment.
[cf. 1882 c. 61 s. 68 U.K.]