he security and its terms.
(d) If the security cannot be given, the court may order the party from whom payment is claimed to deposit the sum of the lost instrument, and any interest and expenses which may be claimed under article 70 or article 71, with the court or any other competent authority or institution, and may determine the duration of such deposit. Such deposit is to be considered as payment to the person claiming payment.
Article 79
1.- A party who has paid a lost instrument and to whom the instrument is subsequently presented for payment by another person must give notice of such presentment to the person whom he paid.
2.- Such notice must be given on the day the instrument is presented or on one of the two business days which follow and must state the name of the person presenting the instrument and the date and place of presentment.
3.- Failure to give notice renders the party who has paid the lost instrument liable for any damages which the person whom he paid may suffer from such failure, provided that the damages do not exceed the amount referred to in article 70 or article 71.
4.- Delay in giving notice is excused when the delay is caused by circumstances which are beyond the control of the person who has paid the lost instrument and which he could neither avoid nor overcome. When the cause of the delay ceases to operate, notice must be given with reasonable diligence.
5.- Notice is dispensed with when the cause of delay in giving notice continues to operate beyond thirty days after the last day on which it should have been given.
Article 80
1.- A party who has paid a lost instrument in accordance with the provisions of article 78 and who is subsequently required to, and does, pay the instrument, or who, by reason of the loss of the instrument, then loses his right to recover from any party liable to him, has the right:
(a) If security was given, to realize the security; or
(b) If an amount was deposited with the court or other competent authority or institution, to reclaim the amount so deposited.
2.- The person who has given security in accordance with the provisions of paragraph 2 (b) of article 78 is entitled to obtain release of the security when the party for whose benefit the security was given is no longer at risk to suffer loss because of the fact that the instrument is lost.
Article 81
For the purpose of making protest for dishonour by non-payment, a person claiming payment of a lost instrument may use a written statement that satisfies the requirements of paragraph 2 (a) of article 78.
Article 82
A person receiving payment of a lost instrument in accordance with article 78 must deliver to the party paying the written statement required under paragraph 2 (a) of article 78, receipted by him, and any protest and a receipted account.
Article 83
1.- A party who pays a lost instrument in accordance with article 78 has the same rights which he would have had if he had been in possession of the instrument.
2.- Such party may exercise his rights only if he is in possession of the receipted written statement referred to in article 82.
CHAPTER VIII - LIMITATION (PRESCRIPTION)
Article 84
1.- A right of action arising on an instrument may no longer be exercised after four years have elapsed:
(a) Against the maker, or his guarantor, of a note payable on demand, from the date of the note;
(b) Against the acceptor or the maker or their guarantor of an instrument payable at a definite time, from the date of maturity;
(c) Against the guarantor of the drawee of a bill payable at a definite time, from the date of maturity or, if the
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