Volume 29
Public Law 54–201
To abolish days of grace on promissory notes, drafts, and so forth, in the District of Columbia.
Approved May 19, 1896
Statutory text
An Act
To abolish days of grace on promissory notes, drafts, and so forth, in the District of Columbia.
Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,
That on all notes, drafts, checks,
District of Columbia.
Days of grace on negotiable paper abolished January 1, 1897.
acceptances, bills of exchange, bonds, or other evidences of indebtedness made, drawn, or accepted by any person or corporation after the first day of January, eighteen hundred and ninety-seven, and in which there is no expressed stipulation to the contrary, no grace, according to the custom of merchants, shall be allowed in the District of Columbia, but the same shall be due and payable as therein expressed, without grace.
Approved, May 19, 1896.