lls due. When it is payable on demand, presentment must
be made within a reasonable time after its issue. This rule does not
apply to all bills of exchange. Thus unreasonable delay in presenting
a check will discharge the indorser whether such delay is a cause of
loss to him or not. Likewise a certificate of deposit payable on
demand must be presented for payment within a reasonable time after
its issue in order to hold the indorser. "The usage of trade or
business includes the usage of banks relating to presentment of checks
for payment. It is sufficient diligence to charge an indorser if a
check on the bank in another place is forwarded through various banks
for collection in accordance with the regular usage of the business,
although presentment might have been more promptly made if a more
direct course had been taken." Presentment for payment must be made by
the holder or by some person authorized by him to receive payment, at
a reasonable hour on a business day and at a defined place, and to the
person primarily liable thereon. And if he is absent or inaccessible
then to any person who is at the place where presentment is made. If a
note is payable at a bank the payor has until the close of banking
hours to pay it, and if, before the close of the bank day, he deposits
money enough to pay it a demand earlier in the day is premature. Delay
for presenting a note for payment is excused where the delay is caused
by circumstances beyond the holder's control, and he is in no way
negligent. Nor need presentment for payment be made when after using
reasonable diligence it cannot be made, or where the drawee of a bill
is a fictitious person, and lastly where presentment, express or
implied, has been waived.

Every negotiable note is payable at the time fixed therein. When the
day of maturity falls on Sunday or a holiday, the note is payable on
the next succeeding business day. Notes falling due on Saturday are to
be presented for payment on the next succeeding business day, except
that notes payable on demand may, at the option of the holder, be
presented for payment before twelve o'clock noon on Saturday when that
entire day is not a holiday.

When the note is payable at a fixed period after the date, after
sight, or after the happening of a specified event, the time of
payment is determined by excluding the day from which the time is to
begin to run, and includes the date of payment. And where a note is
made payable at a