It is customary for banks to notify makers of notes held by them a
few days before time set for payment; but this is not required by
law.

If a note lies unpaid in bank the day set for payment, as soon as
the office closes for regular business the note is protested.

The protest is made before a notary public; he is usually an
employee of the bank.

In the protest formal objection is made against the breaking of
the promise, and demanding that the matter be set right by the
maker, or on his failure, by the indorser.

The indorser, who has to pay, has a claim for the amount on the
maker of the note, as he would have for money loaned or goods
sold, and he can sue to collect.

A note that is not paid within a fixed time is said to be
"outlawed."

Remember the indorser of a note must be notified within twenty-
four hours of the failure of the drawer to make good.

NOTICES

The object in protesting a note is to fix the liability on the
endorser.