Grace

Favor, indulgence, toleration; opposed to right, strict right: as, that a thing done in court is allowed as a matter of grace. Act of grace. An act of pardon or amnesty, qq. V. Days of grace. Certain days, in addition to the time specified in a bill or note, in which payment may be made, before it can be lawfully protested. In common speech this period is termed •• grace; " as in saying that " grace " is or is not allowed on a particular instrument. Originally allowed by the custom of merchants as a matter of favor or indulgence. This c<istom received the sanction of the courts, and so grew into law. The statute of 3 and 4 Anne (1705), which made promissory notes negotiable, also conferred this right to days of grace. That statute has been generally ■adopted in our States. In the absence of an express contract to the contrary, the allowance now enters into every bill or note of a mercantile character, and forms a part of it, so that the paper, in fact and in law, is usually due on the last day of grace. Demand is made on the last day, and interest is charged on all the days. If the last day is Sunday or ■a, legal ho Uday, the paper is due the preceding day. Checks are not entitled to the favor; nor are sight -drafts, nor judgment notes.^ The number of days varies from three to thirty. Three is the limit in the United States; except in Vermont, where, it seems, no grace at all is allowed. In Louisiana, an inland bill or note is due without grace for purposes of setoff. In New York, bills on bank ■corporations are not entitled to the favor. In Great Britain and Ireland, Berlin, and Vienna, the number of days isthree; in Frankfort-on-the-mam, ' See Byles, Bills, 309, 810; Bank of Washington v. Triplett, 1 Pet. *31-35 (1828), cases, Marshall, C. J.; Cookendorfer v. Preston, 4 How. 336 (1846); Bell v. foiu'; in Sweden, six; in Bremen, and Denmark, eight; in Hamburg, twelve; in Spain, fourteen on foreign bills. No grace is recognized in Amsterdam, Antwerp, France, Genoa, Germany (generally, since 1871), Leghorn, ^.eipsic, or Naples.' The law of the place of payment is regarde4. He who claims the benefit of a foreign law or usage must prove the existence of the law.''

See Piace, Of paymint; Maturitt, 8.

Grace widow

A widow by a decree of a court of divorce. Corrupted into grass-widow.