An agent employed to collect a negotiable instrument must collect it promptly and take all measures necessary to charge the parties thereto in case of its dishonor and must present it for collection or acceptance with reasonable diligence.

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Source: CivC 1877, § 1166; CL 1887, § 3789; RCivC 1903, § 1485; RC 1919, § 1242; SDC 1939, § 3.0215.