The Negotiable Instruments Law: From the Draft Prepared for the Commissioners on Uniformity of Laws, and Enacted in Alabama, Arizona, Colorado, Connecticut, District of Columbia, Florida, Idaho, Illinois, Iowa, Kansas, Kentucky, Louisiana, Maryland, Massachusetts, Michigan, Missouri, Montana, Nebraska, Nevada, New Jersey, New Mexico, New York, North Carolina, North Dakota, Ohio, Oregon, Pennsylvania, Rhode Island, Tennessee, Utah, Virginia, Washington, West Virginia, Wisconsin, and Wyoming. The Full Text of the Law as Enacted, with Copious Annotations |
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Page 4
... Holder " means the payee or indorsee of a bill or note , who is in possession of it , or the bearer thereof . " Indorsement " means an indorsement completed by delivery . " Instrument " means negotiable instrument . " Issue " means the ...
... Holder " means the payee or indorsee of a bill or note , who is in possession of it , or the bearer thereof . " Indorsement " means an indorsement completed by delivery . " Instrument " means negotiable instrument . " Issue " means the ...
Page 19
... holder takes the legal title , and can maintain a suit upon it in his own name , in the same manner as if he had received it before it was due . French v . Jarvis , 29 Conn . 353 . § 27. When payable to order . The instrument is pay ...
... holder takes the legal title , and can maintain a suit upon it in his own name , in the same manner as if he had received it before it was due . French v . Jarvis , 29 Conn . 353 . § 27. When payable to order . The instrument is pay ...
Page 23
... holder may insert therein the true date of issue or acceptance , and the instrument shall be payable accordingly ( a ) . The inser- tion of a wrong date does not avoid the instrument in the hands of a subsequent holder in due course ...
... holder may insert therein the true date of issue or acceptance , and the instrument shall be payable accordingly ( a ) . The inser- tion of a wrong date does not avoid the instrument in the hands of a subsequent holder in due course ...
Page 24
... holder , Galley , filled them up as his own notes with different dates , amounts and times of payment . The indorser was held liable to the plaintiff , who had discounted them . Lord Mansfield said : " The indorsement on a blank note is ...
... holder , Galley , filled them up as his own notes with different dates , amounts and times of payment . The indorser was held liable to the plaintiff , who had discounted them . Lord Mansfield said : " The indorsement on a blank note is ...
Page 25
... holder in due course , since he was a party to the original contract , and not a person to whom the paper had been negotiated . The court said : " It seems to us under these definitions and the application thereof the plaintiff was a holder ...
... holder in due course , since he was a party to the original contract , and not a person to whom the paper had been negotiated . The court said : " It seems to us under these definitions and the application thereof the plaintiff was a holder ...
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Common terms and phrases
acceptance agent Bank of Alexandria Bank of U. S. bill of exchange blank Cayuga County Chap charge collateral Commercial Nat commercial paper Conn constitutes contract court Cush deemed delivery deposit discharged dorser drawee drawer due course evidence fact Fourth Nat funds give notice Gratt held Hill holder for value holder in due indorser instru instrument payable Iowa January 25 law merchant Mass maturity ment Metc N. J. Law N. W. Rep National Bank negotiable instrument notary note payable notice of dishonor notice of non-payment Ohio St Oregon paid payable on demand payable to bearer payee payment is specified person Pick place of business place of payment plaintiff post-office presentment for payment primarily liable prior parties promissory note provision rule Savings Bank secondarily liable signature Smith statute sufficient Tenn thereof tion transfer waiver Wend York
Popular passages
Page 83 - A person placing his signature upon an instrument otherwise than as maker, drawer or acceptor, is deemed to be an indorser, unless he clearly indicates by appropriate words his intention to be bound in some other capacity.
Page 27 - But where the instrument is in the hands of a holder in due course, a valid delivery thereof by all parties prior to him so as to make them liable to him is conclusively presumed.
Page 27 - As between immediate parties, and as regards a remote party other than a holder in due course, the delivery, in order to be effectual, must be made either by or under the authority of the party making, drawing, accepting, or indorsing, as the case may be : and in such case the delivery may be shown to have been conditional, or for a special purpose only, and not for the purpose of transferring the property in the instrument.
Page 23 - In order, however, that any such instrument when completed may be enforced against any person who became a party thereto prior to its completion, it must be filled up strictly in accordance with the authority given and within a reasonable time. But if any such instrument, after completion, is negotiated to a holder in due course, it is valid and effectual for all purposes in his hands, and he may enforce it as if it had been filled up strictly in accordance with the authority given and within a reasonable...
Page 81 - But the drawer may insert in the instrument an express stipulation negativing or limiting his own liability to the holder.
Page 145 - Where a negotiable instrument is materially altered without the assent of all parties liable thereon, it is avoided, except as against a party who has himself made, authorized or assented to the alteration, and subsequent indorsers. But when an instrument has been materially altered and is in the hands of a holder in due course, not a party to the alteration, he may enforce payment thereof according to its original tenor.
Page 48 - An instrument is negotiated when it is transferred from one person to another in such manner as to constitute the transferee the holder thereof. If payable to bearer it is negotiated by delivery; if payable to order it is negotiated by the indorsement of the holder completed by delivery.
Page 29 - ... 6. Where a signature is so placed upon the instrument that it is not clear in what capacity the person making the same intended to sign, he is to be deemed an indorser; 7. Where an instrument containing the words, "I promise to pay," is signed by two or more persons, they are deemed to be jointly and severally liable thereon.
Page 137 - Where a dishonored bill has been accepted for honor supra protest or contains a reference in case of need, it must be protested for non-payment before it is presented for payment to the acceptor for honor or referee in case of need.
Page 126 - Where a party has added an address to his signature, notice of dishonor must be sent to that address; but if he has not given such address, then the notice must be sent as follows: 1.