This section of the book is from the "Canadian Banking Practice" book, by John T. P. Knight.
Question 504.— We receive for presentation a draft drawn by a firm in England on a party resident in a village adjacent to our office, from which there is a daily mail to this city, delivered here during business hours. We have no convenient means of presenting the draft personally, but we send the usual power of attorney slip for his signature. Are we justified in holding the draft for a few days, or does the bank incur liability if the draft is not presented through a notary within two days?
Answer.—You are not bound, unless you have special arrangements in the matter, to accept the duty of collecting agent, but if you do accept in this case you are bound to take steps to have the bill presented within a reasonable time, and if not accepted on the day of presentment, or within two days thereafter, to treat it as dishonoured.
The two days' limit mentioned in section 42 does not apply in the case you describe, but only to a bill which has been presented; we do not think that to advise the drawee that you are holding the draft, and to ask him to sign a power of attorney enabling you to accept, is a presentment. The only question involved in this particular view of the matter is whether by delay in the actual presentment you have failed in your duty as collecting agent to such an extent as to bring yourself under liability to the owner of the bill. To form an opinion on this point it would be necessary to have all the facts.