Editor's notes.

- In light of the similarity of the issues dealt with, decisions under former Civil Code 1910, § 4314 and former Code 1933, §§ 14-711, 14-713, and 20-1004 are included in the annotations for this section.

Effect of failure to present check within reasonable time.

- One receiving bank check for collection and application must exercise reasonable diligence in presenting it for payment, and if that person negligently holds it for an unreasonable time, without presentation, it is at that person's own risk. McEachern v. Industrial Life & Health Ins. Co., 51 Ga. App. 422, 180 S.E. 625 (1935) (decided under former Code 1933, § 20-1004).

Where holder of bank check neglects to present it for payment within a reasonable time, and the bank fails, the drawer is discharged from liability to extent of injury drawer sustained by such failure. Anchor Duck Mills v. Harp, 40 Ga. App. 563, 150 S.E. 572 (1929) (decided under former Civil Code 1910, § 4314).

If holder of bank check neglects to present it for payment within a reasonable time, and bank fails between time of drawing and presentation of check, drawer is discharged from liability to extent of injury drawer sustained by such failure. An endorser is discharged absolutely. McEachern v. Industrial Life & Health Ins. Co., 51 Ga. App. 422, 180 S.E. 625 (1935) (decided under former Code 1933, § 20-1004).

Endorser having knowledge of presentment and dishonor.

- The law does not require that notice of presentment and dishonor of a negotiable instrument be given to an endorser in order to charge the endorser with liability, where the endorser already has knowledge of such matters. The law does not require a useless thing. McCarroll v. First Inv. Co., 109 Ga. App. 748, 137 S.E.2d 319 (1964) (decided under former Code 1933, § 14-711).

Presentment and notice of dishonor may be dispensed with or waived under certain conditions. Lanier v. Waddell, 80 Ga. App. 713, 57 S.E.2d 240 (1950), later appeal, 83 Ga. App. 423, 64 S.E.2d 79 (1951) (decided under former Code 1933, § 14-713).

Am. Jur. 2d.

- 11 Am. Jur. 2d, Bills and Notes, § 322. 60 Am. Jur. 2d, Payment, §§ 46, 60.

C.J.S.

- 10 C.J.S., Bills and Notes, §§ 203 et seq., 244 et seq.

U.L.A.

- Uniform Commercial Code (U.L.A.) § 3-504.

ALR.

- When statute of limitations begins to run in favor of drawer of check, 4 A.L.R. 881.

Conduct of holder of check at time of presentation for payment as affecting drawer's liability, 4 A.L.R. 1233.

Trust or preference in respect of money used to purchase exchange or to be transmitted, 16 A.L.R. 190; 57 A.L.R. 1168; 84 A.L.R. 1470; 93 A.L.R. 938; 101 A.L.R. 631.

Necessity of protest and notice as between coindorsers of negotiable paper, 32 A.L.R. 190.

Right of maker to recover payment or overpayment made by mistake to transferee of paper in good faith, 41 A.L.R. 588.

Renewal of bill or note as precluding defenses available against the original, 41 A.L.R. 963.

Delay in presenting certified or accepted check for payment as affecting liability of drawee bank, 42 A.L.R. 1138.

Bills and notes: necessity of possession and exhibition of paper at time of demand in order to make a valid presentment, 50 A.L.R. 1200.

Right of holder of certified check to preference out of assets of insolvent bank, 51 A.L.R. 1034.

Loss from insolvency of bank before presentment of bank draft, as falling upon purchaser of draft or upon subsequent holder, 56 A.L.R. 494.

Right of depositor to rescind or claim a trust in respect of a deposit because of insolvency of bank when it is made, 81 A.L.R. 1078.

Time within which check must be presented to prevent discharge of drawer in event of bank's insolvency, 91 A.L.R. 1181.

Provisions of sales contract relating to party to bear the loss from insolvency of or breach of contract by bank through which paper representing price is routed for collection, 99 A.L.R. 1472.

Payment of depositor's debt to insolvent bank against which deposit might otherwise have been set off as affecting depositor's equivalent rights, 139 A.L.R. 723; 162 A.L.R. 1175.