| Chapter II Bills of Exchange |
Section 8 Payment for Honor |
| Article 77 |
（Amount of payment for honor）Payment for honor shall be made during the time when the holder is entitled to exercise his right of recourse, but it shall not be made later than the last day of the time limit for making of a protest. |
| Article 78 |
（Effect of payer for honor and refusal of payment for honor）Any person may intervene and make payment for honor.
If the holder refuses to receive payment for honor, he loses his right of recourse against the party for whose honor the payment is made and all parties subsequent to the person. |
| Article 79 |
（Reminder for payment for honor）When the drawee or his paying agent fails to make payment within the time limits set forth in Articles 69 and 70, the holder shall present the bill to the acceptor for honor for payment if one is available. If there is no acceptor for honor but a referee in case of need is specified on the bill, the holder shall present the bill to the referee in case of need for payment.
If the acceptor for honor or the referee in case of need fails to discharge the bill by payment upon presentment, the holder shall request the agency making the protest to note this fact on the protest.
If the holder fails to comply with any of the provisions of the preceding two paragraphs, he loses his right of recourse against the party for whose honor the payment is made, the person who designated the referee in case of need, and all parties subsequent to them. |
| Article 80 |
（Prioritized participants）If two or more persons offer to intervene and pay a bill for the honor of different parties, the person whose payment will discharge most parties to the bill has the preference.
If a person offering to intervene and pay a bill for honor intentionally violates the provision of the preceding paragraph, he loses his right of recourse against any party or parties to the bill whose liabilities would have been discharged but for his intervention.
If there are two or more persons whose payment will discharge most parties to the bill, the person authorized by the party for whose honor the payment is to be made or the referee in case of need shall be accepted as the payer for honor. |
| Article 81 |
（Amount of payment for honor）Payment for honor shall be made of the entire amount payable by the party for whose honor the payment is made. |
| Article 82 |
（Procedures for payment for honor）When a payment for honor is made, it shall be duly recorded in the protest.
If payment is made by the acceptor for honor, the payment is for the honor of the party for whose honor he has accepted the bill. If payment is made by the referee in case of need, the payment is for the honor of the party who designated him.
If there is neither an acceptor for honor nor referee in case of need and the bill does not indicate the party for whose honor the payment is made, the drawer shall be the party for whose honor the payment is made.
The provisions of Article 55 shall apply mutatis mutandis to payment for honor. |
| Article 83 |
（Return of bills of exchange）Upon payment for honor, the holder shall surrender the bill, together with a voucher for the payment received, to the payer for honor. If a protest has been made, the protest shall be surrendered at the same time.
If the holder fails to comply with the provision of the preceding paragraph, he shall be liable for damages to the payer for honor. |
| Article 84 |
（Validity of payment for honor）The payer for honor is subrogated for and succeeds to all the rights of the holder against the acceptor, the party for whose honor the payment is made, and any party prior to them. But the payer for honor may not further negotiate the bill by endorsement.
Any party subsequent to the party for whose honor the payment is made is discharged from his liabilities on the bill by virtue of the payment for honor. |