Bills of Exchange Act (R.S.C., 1985, c. B-4)

Marginal note:Payment for honour under protest

• 152 (1) Where a bill has been protested for non-payment, any person may intervene and pay it under protest for the honour of any party liable thereon or for the honour of the person for whose account the bill is drawn.

• Marginal note:If more than one offer

  (2) Where two or more persons offer to pay a bill for the honour of different parties, the person whose payment will discharge most parties to the bill has the preference.

• Marginal note:Refusal to receive payment

  (3) Where the holder of a bill refuses to receive payment under protest, he loses his right of recourse against any party who would have been discharged by that payment.

• Marginal note:Entitled to bill

  (4) The payer for honour, on paying to the holder the amount of the bill and the notarial expenses incidental to its dishonour, is entitled to receive both the bill itself and the protest.

• Marginal note:Liability for refusing

  (5) Where the holder does not on demand in a case described in subsection (4) deliver up the bill and protest, he is liable to the payer for honour in damages.