Statutes > Alabama Statutes > Title 8 — COMMERCIAL LAW AND CONSUMER PROTECTION. > Chapter 4 — BILLS OF EXCHANGE. > Section 8-4-1 Damages on protested bills of exchange.

Section 8-4-1 Damages on protested 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.

(Code 1852, §1537; Code 1867, §1845; Code 1876, §2106; Code 1886, §1771; Code 1896, §885; Code 1907, §5145; Code 1923, §9216; Code 1940, T. 39, §185.)