Banco Territiorial y Agrícola v. Rossy & Co.
Banco Territiorial y Agrícola v. Rossy & Co.
Opinion of the Court
delivered the opinion of the court.
A demurrer having been presented to a complaint, appellant maintains that the court below erred in overruling the
In this case the bill of exchange was protested for nonpayment. Assuming that protest was necéssary by virtue of section 504 of the Commercial Code, we are inclined to agree with appellant that a protest made months after the note was due and not paid comes too late. The doubt we have, despite the apparent provisions of section 502 of the Commercial Code, is whether, to bind an acceptor on the bill itself, protest is necessary. The acceptor undertakes as a primary obligation the duty to pay the bill and it would be dubious to us whether in case of an ineffective protest he would be exempted from payment of any part of the bill except the costs of protest.
Without definitely deciding the other ¡error or errors, the judgment must be reversed for error in overruling the demurrer and permission granted to complainant to amend the complaint within ten clays, unless the time, should he extended by the court below.
Reversed and remanded.
Case-law data current through December 31, 2025. Source: CourtListener bulk data.