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At the domicile of the persons pointed out in the bill of exchange to pay the same in case of need. (66) At the domicile of the acceptor by intervention. The whole must be done by a single act or instrument. ART. 174. The protest contains:

The literal copy of the bill of exchange, acceptance, indorsements and directions inserted therein.

The demand of payment of the amount of the bill of exchange.

It declares:

The absence or presence of the drawee,

The motives for refusing payment, and the refusal or inability to sign.

ART. 175. No act or formality on the part of the holder of a bill of exchange can supply the place of a protest, except in the cases provided by art. 150 and those following, concerning the loss of a bill of exchange.

ART. 176. Notaries and huissiers (67) are bound under the penalty of removal from office and of damages and costs, to be paid to the parties, to deliver exact certified copies of the protests by them made, and to enter them at full length, day by day, and in order of dates, in a special register numbered and flourished, and kept in the form prescribed for similar books of record.

XIII. Of Re-exchange.

ART. 177. Re-exchange is effected by re-drawing; ART. 178. A re-draft is a new bill of exchange, which the holder of a protested bill draws upon the drawer or indorsers, by means whereof (68) he procures his reimbursement of the principal amount of the protested bill, together with his costs and charges, and the new exchange which he pays.

remedy. If the title appear fair and regular, the attachment is granted of course; but the defendant may, if he pleases, immediately institute a proceeding before the judge called an opposition, which is in nature of our rule to show cause why the attachment should not be dissolved. The judge on a summary hearing either maintains or dissolves the attachment; and if he thinks that there is good cause to maintain it, it remains a lien on the property attached notwithstanding any appeal to a superior court, and until a final decision in the cause. Other oppositions may also be made by contending creditors, or by third persons elaiming an interest in the property attached, and they are all decided upon in like manner.

(66) It happens frequently in France that bills of exchange are drawn payable at the domicile of A B, the drawee, and in case of need, (au besoin) at the domicile of C D, a third person, who has orders to supply the drawee with funds, or is instructed to pay on his default. In such case, the protest must be made at the domicile of the payer in case of need, as well as at that of the original drawee.

(67) Huissiers, literally, and etymologically ushers, both words being derived from the old French word huis, a door, and from their having been originally porters, or doorkeepers. This denomination is now given to the ministerial officers of French courts of justice, answering to our sheriff's officers, or bailiffs. Besides their ordinary functions as apparitors, they are authorized, concurrently with public notaries, to protest bills of exchange and promissory notes, and to serve all legal notices between parties, of which service their certificate is authentic proof. The criers of courts are called huissiers audienciers.

(68) That is to say, by negotiating it on the spot, and converting it into money.

ART. 179. The rate of re-exchange is regulated with respect to the drawer, at the course of exchange between the place where the bill of exchange was payable, and the place where it was drawn.

It is regulated as to the indorsers, by the course of exchange between the place where the bill of exchange was delivered or negotiated by them, and the place where the reimbursement is to be effected.

ART. 180. A re-draft is accompanied with an account of redrawing.

ART. 181. The account of re-drawing contains:

The principal amount of the protested bill of exchange, The cost of protest and other lawful expenses, such as banking commission, brokerage, stamp duties and postage. It mentions the name of the person on whom the re-draft is made, and the rate of exchange at which it is ne tiated.

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It is authenticated by an exchange agent.
In places where there is no exchange agent it is certified
by two merchants.

To it is annexed the protested bill of exchange, the pro-
test, or an authenticated copy thereof.

In case the re-draft be on one of the indorsers, it is likewise accompanied with a certificate attesting the course of exchange between the place where the original bill was payable, and that where it was drawn.

ART. 182. No more than one account of re-drawing can be made concerning the same bill of exchange.

The account of re-drawing is repaid by one indorser to the other respectively, and finally by the drawer.

ART. 183. Re-exchanges cannot be cumulated. Each indorser as well as the drawer may be charged with one and no more. ART. 184. The interest of the principal of a bill of exchange, protested for non-payment, is due from the day of protest.

ART. 185. The interest of the cost of protest, re-exchange and other lawful expenses, is only due from the day on which the suit is instituted.

ART. 186. No re-exchange is due, if the account of redrawing is not accompanied with the certificates of exchange agents or merchants, as prescribed by art. 181.

SECTION II.

Of Promissory Notes.

ART. 187. All the laws relative to bills of exchange, and concerning

The time of payment,

Indorsement,

Joint and several Responsibility,

Guarantee by aval,

Payment by intervention,

The duties and rights of the holder,

Re-exchange and interest thereon, (69)-are applicable to promissory notes, without prejudice to what is provided with respect to the cases mentioned in art. 21, 22 and 23 of tit. 2. book iv.

ART. 188. A promissory note is dated.

It states:

The sum to be paid,

The name of the person to whose order it is made,

The time of payment,

The value received, and whether in cash, merchandise, ac

count, or in any other manner.

SECTION III.

Of Prescription or Limitation of Actions.

ART. 189. All actions relative to bills of exchange, and promissory notes subscribed by merchants, traders or bankers, or given in the course of commercial transactions, are barred after the lapse of five years from the day of the protest, or that of the last judicial proceeding, if there has been no judgment, or if the debt has not been acknowledged by a separate act or instrument of writing.

The alleged debtors shall, nevertheless, be bound, if required, to make oath that they are no longer indebted; and their heirs, widows and other representatives shall swear that they verily believe that nothing remains due. (70)

(69) The idea of re-exchange on a promissory note may appear new; yet it necessarily flows from the principle, now every where established, of the negotiability of promissory notes, and their assimilation in that respect to bills of exchange. That principle was not admitted without difficulty in England, in consequence of the unfortunate anti-commercial prejudices of lord Holt, who supposed it to be a modern invention of the Lombard street brokers, and denied its being founded on the general custom of merchants. See 2 Lord Raym. 751. But it is certain that it was established on the continent of Europe, long before the time of that excellent judge, whose memory in other respects is justly held in the highest veneration. Pope Pius V. recognises it in his canon or extravagant de Cambüs, made in the year 1571, and in his pragmatic of the 11th of July, 1568. "There "are," says his holiness, "three species of EXCHANGE. The first, when small "money is exchanged for coin of a greater value, or vice versa. The second is "by bills, by which money at home is exchanged for money abroad. The third "is by NOTES, by which money actually present is exchanged for absent money, "that is to say, for money payable at a future day, though in the same place." Hence promissory notes were formerly called in France, notes or rather bills of exchange (billets de change) as contradistinguished from lettres de change. See the ordinance of 1673, tit. 5. passim. Thence probably the English denomination of bills of exchange was originally derived, and was applied to that species of negotiable paper then in most frequent use.

The Italians have been our masters in the science of mercantile law. There is much yet to be gleaned from their valuable writings.

(70) The statutes of limitation in France are no bar to an action, unless the party who claims the benefit of them, will also make oath, that the debt is no fonger due.

BOOK II.

Of Maritime Commerce.

TITLE I.

Of Ships and Vessels.

ART. 190. All ships and vessels are reputed movables.

They are, however, assimilated to real property (71) in point of liability for the debts of the vender, and especially those which are by law declared to be privileged. (72)

ART. 191. The several debts herein after specified are privileged in the following order of priority, to wit:

1. All judicial costs and other expenses incurred in procuring the sale of the vessel, and the distribution of the proceeds thereof.

2. Pilotage, tonnage and wharfage. (73)

3. The wages of the guardian or keeper, and expenses for the safe keeping of the vessel, from her entry into port until the sale thereof.

4. The storage of her rigging, tackle and apparel.

5. The charges for keeping in good order and repair the vessel, her rigging and apparel, from the time of her entering into port from her last voyage.

6. The wages of the master and crew employed in her last voyage. (74)

7. The sums lent to the master for repairs or other necessaries for his vessel (75) during her last voyage, and the

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(71) The words " assimilated to real property" are not in the original, but they appeared to us necessary to make the article understood by those who are not conversant in the French law. The words in the text are, seront affectés aux dettes du vendeur, which means that they shall be subject, though in the hands of a purchaser, to the same liens by which real property is bound. For instance, if similar law were in force in the United States, it would follow, that ships would be bound, in the same manner as lands by a judgment of record. In France, the system of liens is carried to a great degree of perfection, by a variety of legal provisions, which, although originating in the spirit of fiscal legislation, are nevertheless admirably well calculated for the security of the creditor and the prevention of fraud.

(72) This means that they are intitled to a priority of lien, and of course to a priority of payment. The term privileged debts is used in the same sense in the English law, and is applied to those debts which executors and administrators are bound to pay in the first instance.

(73) And other similar charges and duties payable by the vessel only. There are several such enumerated in the text, such as droits de cale, bassin, avant bassin, which, as they are not in use in this country, we have thought it unnecessary to insert or explain.

(74) On a similar principle it is provided by the British statute, 8 Ann. c. 14., that a landlord cannot demand or receive more, than the amount of the last year's rent, out of the proceeds of his tenants' goods taken in execution.

(75) By the general maritime law every contract with the master of a ship (such, of course as he is authorized to make) gives a lien upon the vessel, though there be no special hypothecation; but it is otherwise by the law of England. 2L. Raym. 806. But quære, whether such an implied lien given abroad, would be held to follow the vessel to this country?

reimbursement of the price of the merchandise sold by him for the same purpose.

8. The sums due to the vender, ship-chandlers, materialmen, (76) workmen and other persons employed in the building of the vessel, if she has not yet performed a voyage; and those due to any creditors for work and labour done and performed, or for articles furnished for the repairing, victualling, manning, equipping and fitting out the vessel before her departure, if she has already performed a voyage.

9. The sums lent on bottomry, for provisions, refitting and equipment before the sailing of the vessel.

10. The amount of the premiums of insurances made on the ship, her rigging and apparel, and on her outfits and equipments for her last voyage.

11. The indemnity due to the affreighters (77) for the nondelivery of merchandise shipped by them, or for damage suffered by the said merchandise through the default of the master or crew.

If the proceeds of the sale be insufficient, the several creditors mentioned in each of the foregoing numbers, or paragraphs, shall come in, pari passu, in proportion to their respective demands.

ART. 192. In order to intitle the creditors to the benefit of the privilege granted to them by the preceding article, their several debts must be proved in the manner and form following, to wit:

1. Judicial costs shall be proved, by the bills thereof, taxed by the competent tribunal.

2. Tonnage and other duties-By the legal acquittances of the collectors.

S. The debts specified in Nos. 3, 4 and 5 of article 191By accounts examined and approved by the president of the tribunal of commerce.

4. Mariners' wages-By the records of the office of maritime inscription. (78)

(76) Material-men are shipbuilders, ropemakers, &c. and all such as furnish tackle, furniture or provisions for the repairing of ships or setting them out to sea. 2 Brown's Civ. and Adm. Law, 75. 81.

(77) The French language very properly distinguishes between the freighter and the affreighter. The freighter is he who lets out, and the affreighter he who takes a ship or part of a ship to freight or hire. In our idiom the word freighter (and in common parlance charterer) is applied indiscriminately to both, which not unfrequently produces confusion. We have ventured to adopt the French distinction, and to introduce the word affreighter from affreightment, with the less reluctance, as it appears sufficiently warranted by the analogy of the English language.

(78) These offices of maritime inscription have succeeded the Bureaux des classes, which were established under the regal government. Before a vessel puts to sea, the master is bound to appear there with his mariners; and their names, ages, places of birth, and abode, together with the conditions of their agreement for the voyage, are recorded in a document called the role d'équipage, a copy of

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