Pennsylvania Act 1821-94 — BILLS OF EXCHANGE

Act text

BILLS OF EXCHANGE
                  Act of Mar. 30, 1821, P.L. 156, No. 94              Cl. 12
                                  An Act

                      Concerning bills of exchange.

        Section 1. Be it enacted by the Senate and House of
     Representatives of the Commonwealth of Pennsylvania in General
     Assembly met, and it is hereby enacted by the authority of the
     same, That whenever any bill of exchange hereafter to be drawn
     or indorsed within this commonwealth, upon any person or persons
     or body corporate, of, or in any other state, territory or
     place, shall be returned unpaid 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 the state of Louisiana, five per cent, upon such
     principal sum, if upon any person or persons, or body
     corporation of, or in Louisiana, or of, or in any other state or
     place in North America or the islands thereof, excepting the
     north west coast of America and Mexico, or of, or in any of the
     West India or Bahama islands, ten per cent, upon such principal
     sum; if upon any person or persons, or body corporate, of, or in
     the island of Madeira, the Canaries, the Azores, the Cape de
     Verd islands, the Spanish Main or Mexico, fifteen per cent, upon
     such principal sum; if upon any person or persons, or body
     corporate, of, or in any state or place in Europe, or any of the
     islands thereof, twenty per cent, upon such principal sum; if
     upon any person or persons, or body corporate, of, or any other
     part of the world, twenty-five per cent, upon such principal
     sum.
        (1 repealed in part May 13, 1850, P.L.746, No.430)
        Section 2.  Damages on protested bills of exchange to be in
     lieu of interest, etc.
        The damages which by this act are to be recovered upon any
     bill of exchange, shall be in lieu of interest and all other
     charges, except the charges of protest, to the time when notice
     of the protest and demand of payment shall have been given and
     made as aforesaid: and the amount of such bill, and of the
     damages payable thereon, as specified in this act, shall be
     ascertained and determined by the rate of exchange, or value of
     the money or currency mentioned in such bill at the time of
     notice of protest and demand of payment as before mentioned.
     1821, March 30, P.L. 156, 7 sm. L. 435, Sec. 2.
        Section 3.  And be it further enacted by the authority
     aforesaid, That the act passed in the year of our Lord one
     thousand seven hundred, entitled "An act concerning bills of
     exchange," be, and the same is hereby repealed.