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Note in your Book the name and place of abode of him who presents a Bill to be Accepted.
IT happeneth often in Foreign Bills of Exchange, that they come payable either to the same Party that did deliver the value, or to his order; or else to some other body living beyond the Seas, who usually doth send the first Bill of Exchange to some Friend of his here in London, only to get accepted, and then to return it him again, that so, being accepted, he may the better negotiate the same Bill of Exchange again, and take in the value thereof, and make an Assign∣ment for the same, either on the accepted Bill, or on the other Bill of the same tenor, not accepted, according as occasion shall be: Now, if an Assignment do come on the second Bill, payable to another person, with∣out order where to take up the first accepted Bill; this second Bill being presented to the Party on whom it is drawn, to be accepted, he doth deny acceptance thereof, alledging that he hath already accepted the first Bill, but he doth not know to whom, or in whose hands the same first accepted Bill doth re∣main; and thereupon the Party which hath the second Bill, wanting acceptance there∣of, doth cause Protest to be made for non∣acceptance; for prevention whereof, and that each party may receive all due con∣tent, as is fitting, I would advise all Mer∣chants that have such Bills of Exchange presented unto them to be accepted, to note down in their Books the name of the party by whom the said Bill is presented unto them to be accepted, and his place of abode, that so, if in case the second Bill be also presented unto them by another par∣ty to be accepted, the party on whom it is drawn, and who hath already accepted the first Bill, may give answer to him who shall present the second Bill to be accepted, and acquaint him to whom he hath already ac∣cepted, and acquaint him to whom he hath already accepted the first Bill, and where he liveth, that so the same may appear to be real, and remove scruples or doubts, which otherwise may arise therein; this I conceive is not yet generally practised and observed by all Merchants trading in Exchange, because not commonly known, but it is Merchant-like, and I have seen it practised by some Merchants here in London, and I perswade my self it will be willingly embraced by all those that mean honestly and endeavour after plain dealing, which cannot but redound to their credit.