Question 303. - An acceptance held by Bank A is payable at Bank B. Being unpaid at close of business on the date of maturity Bank A hands the bill to a notary for protest. The notary delays presentation until 4.30 p.m. and finds the officers of Bank B have left for the day, the payee having in the meantime provided for the payment of the bill. Can the notary protest the bill; or if he merely "notes" it, can he collect the usual notarial fee? What would be the proper course for the banks to take under such circumstances?

Answer. - This question raises some important points, regarding which we have thought it well to get a memorandum from the Counsel of the Association, which is appended hereto.

The effect of the view which Mr. Lash takes in the case put by our correspondent is as follows:

The notary under the circumstances mentioned could not be said to have made a presentation at all, and the protest must therefore be made on the strength of the presentation which we assume was made earlier in the day by Bank A at Bank B. It is not necessary that the presentation should be made by the notary, although it is clearly an advantage that he should make it, as that simplifies the proof in case of dispute afterwards. Of course, if a notary presents a bill after banking hours and finds someone who is authorized to pay or refuse payment, such a presentation is valid notwithstanding the hour.

As regards noting, if the notary notes the bill instead of protesting it, he is entitled to whatever is the usual fee for noting and sending out the notices of dishonour, but we do not see that this has any bearing on the question as to the effect of the delay in presentation.