Pennsylvania Act 1850-430 — BILLS OF EXCHANGE - PROTESTED - RECOVERY OF DAMAGES

Act text

BILLS OF EXCHANGE - PROTESTED - RECOVERY OF DAMAGES
                  Act of May 13, 1850, P.L. 746, No. 430              Cl. 12
                                  AN ACT

     To incorporate the Smethport and Olean plank road company; and
        relative to the guardians of the poor in Richmond and Penn
        districts, in Philadelphia county; to authorize the secretary
        of the commonwealth to correct an error in a certain act; and
        relative to damages on protested bills of exchange.

        Section 6.  Damages to be recovered on protested bills of
     exchange
        In lieu and stead of the damages which, by the act to which
     this section is a supplement,  are to be recovered upon a bill
     of exchange returned unpaid, with a legal protest, whenever any
     bill of exchange to be drawn or endorsed after Aug. 1, 1850,
     within this Commonwealth, upon any person or persons, or body
     corporate, of or in any other state, territory or place, shall
     be returned for non-acceptance or non-payment with a legal
     protest, the person or persons to whom the same shall or may be
     payable, shall be entitled to recover and receive of and from
     the drawer or drawers, or the indorser or indorsers of such bill
     of exchange, the damages hereinafter specified, over and above
     the principal sum for which such bill of exchange shall have
     been drawn, and the charges of protest, together with lawful
     interest on the amount of such principal sum, damages and
     charges of protest, from the time at which notice of such
     protest shall have been given, and the payment of said principal
     sum and damages and charges of protest demanded, that is to say:
     if such bill shall have been drawn upon any person or persons,
     or body corporate, of or in any of the United States or
     territories thereof, excepting upper and lower California, New
     Mexico and Oregon, five per cent upon such principal sum; and if
     upon upper or lower California, New Mexico or Oregon, ten per
     cent upon such principal sum; and if upon China, India or other
     parts of Asia, Africa or islands in the Pacific Ocean, twenty
     per cent upon such principal sum; and if upon Mexico, the
     Spanish main, West Indies or other Atlantic Islands, east coast
     of South America, Great Britain or other places in Europe, ten
     per cent upon such principal sum; and if upon places on the west
     coast of South America, fifteen per cent upon such principal
     sum; and if upon any other part of the world, ten per cent upon
     such principal sum. 1850, May 13, P.L. 746, Sec.6.