Sec. 7. Damages payable on protest for nonpayment or nonacceptance of a bill of exchange, drawn or negotiated within this state, shall be, if drawn upon any person at any place out of this state, but within the United States, five per cent (5%), but if upon any person at any place without the United States, ten per cent (10%) on the principal of such bill.
Formerly: Acts 1861, c.75, s.7.
Structure Indiana Code
Article 2. Commercial Transactions
Chapter 3. Negotiable Instruments
26-2-3-1. Negotiability by Endorsement
26-2-3-2. Assignee's Right of Action
26-2-3-3. Availability of Defense or Set-Off Against Assignee
26-2-3-4. Assignee's Right of Action Against Endorsers; Defenses
26-2-3-6. Negotiability of Notes Payable to Order or Bearer in a Bank
26-2-3-7. Damages Payable on Protest for Nonpayment or Nonacceptance of Bill of Exchange
26-2-3-8. Interest on Protested Bill of Exchange
26-2-3-10. Limitation of Damages Against Drawer or Endorser of Protested Bill of Exchange
26-2-3-11. Necessity of Consideration
26-2-3-12. Bill Payable Out of State; Effect of Provision of Means for Discharge Within State