Code of Alabama - Title 8: Commercial Law and Consumer Protection - Chapter 4 - Bills of Exchange

• Section 8-4-1 Damages on protested bills of exchange
  The damages on bills of exchange, inland or foreign, protested for nonacceptance or nonpayment are five percent on the sum drawn for.
• Section 8-4-2 Damages on protest for nonpayment in place of all charges except costs
  Damages on protest for nonpayment of bills of exchange are in the place of all charges except costs of protest incurred previous to and at...
• Section 8-4-3 Applicability of rate of exchange in determining amount due and damages for nonpayment
  (a) If the amount in a bill of exchange specified is expressed in money of the United States, the amount due thereon and the damages...
• Section 8-4-4 Damages and charges on protest for nonacceptance
  When a bill of exchange is protested for nonacceptance, the same rate of damages is allowed as in the case of a protest for nonpayment;...

Last modified: May 3, 2021