William III, 1697-8: An Act for the better Paym[en]t. of Inland Bills of Exchange. [Chapter XVII. Rot. Parl 9 Gul. III. p.3. n. 8.]

Inland Bills of Exchange for £5 and upwards, on Non-payment, as herein inentioned, may be protested.

Whereas great Damages & other Inconveniencs do frequently happen in the Course of Trade and Co[m]merce by Reason of Delays of Payment & other Neglects on Inland Bills of Exchange in this Kingdome Be it therefore enacted by the Kings most Excellent Majesty by and with the Advice & Consent of the Lords Spiritual and Temporal & the Co[m]mons in this present Parliament assembled and by the Authority of the same that from & after the Foure and twentieth Day of June next which shall be in the Yeare One thousand six hundred ninety eight all and every Bill or Bills of Exchange drawne in or dated att and from any Trading Citty or Towne or any other Place in the Kingdome of England Dominion of Wales or Towne of Berwick upon Tweed of the Su[m]m of Five Pounds Sterling or upwards upon any Person or Persons of or in London or, any other trading City Towne or any other Place (in which said Bill or Bills of Exchange shall be acknowledged and expressed the said Value to be received) and is and shall be drawne payable att a certaine Number of Days Weeks or Months after Date thereof That from and after Presentation and Acceptance of the said Bill or Bills of Exchange (which Acceptance shall be by the underwriting the same under the Parties Hand so accepting) and after the Expiration of Three Days after the said Bill or Bills shall become due the Party to whom the said Bill or Bills are made payable his Servant Agent or Assignes may and shall cause the said Bill or Bills to be protested by a Notary Publick and in default of such Notary Publick by any other substantial Person of the City Towne or Place in the p[re]sence of Two or more Credible Witnesses refusal or neglect being first made of due Payment of the same which Protest shall be made and written under a faire written Coppy of the said Bill of Exchange in the Words or Forme following.

Form of Protest; Notice of Protest to Party from whom Bill received, who is to repay the same with Interest and charges; Persons neglecting to make Protest liable to Interest and Costs.

Know all Men that I.A.B. on the Day of att the usuall place of Abode of the said have demanded Paym[en]t. of the Bill of the which the above is the Coppy which the said did not pay wherefore I the said doe hereby protest the said Bill. Dated ( (fn. 1) ) this Day of Which Protest so made as aforesaid shall within Fourteene Days after making thereof be sent or otherwise due Notice shall be given [thereof (fn. 2) ] to the Party from whom the said Bill or Bills were received who is upon produceing such Protest to repay the said Bill or Bills together with all Interest and Charges from the Day such Bill or Bills were protested for which Protest shall be paid a Su[m]m not exceeding the Su[m]m of Six Pence And in Default or Neglect of such p[ro]test made and sent or due Notice given within the Days before limitted the Person so failing or neglecting thereof is and shall be liable to all Costs Damages and Interest which do and shall accrue thereby.

II. Proviso that where Bill lost, Drawer to give another of same Tenor, on being indemnified.

Provided neverthelesse that in Case any such Inland Bill or Bills of Exchange shall happen to be lost or miscarried within the time before limitted for Payment of the same then the Drawer of the said Bill or Bills is and shall be oblidged to give an other Bill or Bills of the same tenour with those first given the Person or Persons to whom they are and shall be so delivered giving Security if demanded to the said Drawer to indemnifie him against all Persons whatsoever in case the said Bill or Bills of Exchange so alleadged to be lost or miscarried shall be found againe.