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The Negotiable Instruments Law: With Annotations (Classic Reprint)
Robert E. Bunker
No preview available - 2016
acceptance acceptor accommodation according agent alteration amount apply authority Bank banker bearer become Bills of Exchange blank Brown charge cheque City Clark condition consideration constitutes contract court debt deemed defense delivery demand discharged dishonor draft drawer drawn due course effect England Exchange Act existing expressed fact funds given hands held holder holder in due honor indorser instru intended interest law merchant liable maker Mass maturity means ment Mich Michigan N. Y. Supp necessary negotiable negotiable instruments notice paid particular party payable payee payment person presentment principal prior promissory note protest provision qualified reasonable received references refused rule Savings Second sent signature signed Smith statute subsequent sufficient supra Taylor thereof Third tion transfer Union United unless valid
Page 49 - An accommodation party is one who has signed the instrument as maker, drawer, acceptor or indorser, without receiving value therefor, and for the purpose of lending his name to some other person. Such a person is liable on the instrument to a holder for value, notwithstanding such holder at the time of taking the instrument knew him to be only an accommodation party.
Page 196 - Exchange is an unconditional order in writing, addressed by one person to another, signed by the person giving it, requiring the person to whom it is addressed to pay on demand or at a fixed or determinable future time, a sum certain in money to or to the order of a specified person, or to bearer.
Page 77 - To constitute notice of an infirmity in the instrument or defect in the title of the person negotiating the same, the person to whom it is negotiated must have had actual knowledge of the infirmity or defect, or knowledge of such facts that his action in taking the instrument amounted to bad faith.
Page 209 - A bill must be protested at the place where it is dishonored, except that when a bill drawn payable at the place of business, or residence of some person other than the drawee, has been dishonored by non-acceptance, it must be protested for non-payment at the place where it is expressed to be payable, and no further presentment for payment to, or demand on, the drawee is necessary.
Page 219 - Where a banker in good faith and without negligence receives payment for a customer of a cheque crossed generally or specially to himself, and the customer has no title or a defective title thereto, the banker shall not incur any liability to the true owner of the cheque by reason only of having received such payment.
Page 199 - 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 206 - Protest is dispensed with by any circumstances which would dispense with notice of dishonor. Delay in noting or protesting is excused when delay is caused by circumstances beyond the control of the holder and not imputable to his default, misconduct or negligence.
Page 200 - 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 81 - In the hands of any holder other than a holder in due course, a negotiable instrument is subject to the same defenses as if it were nonnegotiable. But a holder who derives his title through a holder in due course...