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 |
From inside the book
Results 1-5 of 78
Page 4
... 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 first delivery of ...
... 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 first delivery of ...
Page 8
... payee or order , is a bill of exchange under the terms of the statute . Torpey v . Tebo , 184 Mass . 307 . ( d ) See section 26 . ( e ) See section 23 . ( f ) See section 27. The North Carolina Act reads : " Must be payable to the order ...
... payee or order , is a bill of exchange under the terms of the statute . Torpey v . Tebo , 184 Mass . 307 . ( d ) See section 26 . ( e ) See section 23 . ( f ) See section 27. The North Carolina Act reads : " Must be payable to the order ...
Page 12
... payee until all the notes of the series should be paid . The court said : " The transaction is , in legal effect , what it would have been if the maker , who purchased the cars , had given a mortgage back to the payee , securing the ...
... payee until all the notes of the series should be paid . The court said : " The transaction is , in legal effect , what it would have been if the maker , who purchased the cars , had given a mortgage back to the payee , securing the ...
Page 19
... payee who is not maker , drawer or drawee ; or 2. The drawer or maker ( b ) ; or 3. The drawee ; or 4. Two or more payees jointly ; or 5. One or some of several payees ( c ) ; or 6. The holder of an office for the time being ( d ) ...
... payee who is not maker , drawer or drawee ; or 2. The drawer or maker ( b ) ; or 3. The drawee ; or 4. Two or more payees jointly ; or 5. One or some of several payees ( c ) ; or 6. The holder of an office for the time being ( d ) ...
Page 20
... payee must be named or otherwise indicated therein with reasonable certainty ( e ) . ( a ) By the rules of the law merchant an instrument payable to a specified person without the addition of the word " order , " or other word of ...
... payee must be named or otherwise indicated therein with reasonable certainty ( e ) . ( a ) By the rules of the law merchant an instrument payable to a specified person without the addition of the word " order , " or other word of ...
Other editions - View all
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.