A Treatise on the Law of Collateral Securities: As Applied to Negotiable, Quasi-negotiable, and Non-negotiable Choses in Action |
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Page 10
... default in payment of the principal debt , the pledgee may be able to enforce their payment . " Where bills receivable were thus placed in posession of a third party , to hold as collateral security for the benefit of the pledgee , and ...
... default in payment of the principal debt , the pledgee may be able to enforce their payment . " Where bills receivable were thus placed in posession of a third party , to hold as collateral security for the benefit of the pledgee , and ...
Page 12
... default , the bank's claim upon the collat- eral securities as against the bona fide purchaser , for value , without notice of the agreement appropriating all collater- als deposited by the pledgor as security , was not favored . * And ...
... default , the bank's claim upon the collat- eral securities as against the bona fide purchaser , for value , without notice of the agreement appropriating all collater- als deposited by the pledgor as security , was not favored . * And ...
Page 21
... default . The assumption of this duty and the implied promise of delay in the enforcement of the original indebtedness by the receipt thereof , furnishes a valuable consideration to support such transfer of negotiable instruments as ...
... default . The assumption of this duty and the implied promise of delay in the enforcement of the original indebtedness by the receipt thereof , furnishes a valuable consideration to support such transfer of negotiable instruments as ...
Page 27
... default , the pledgee is charged with the amount of such securities where loss is caused by his neglect . And where a creditor takes a note or bill payable at a future day , either in pay- ment of or as collateral security for a pre ...
... default , the pledgee is charged with the amount of such securities where loss is caused by his neglect . And where a creditor takes a note or bill payable at a future day , either in pay- ment of or as collateral security for a pre ...
Page 28
... default is made ; ' nor where the collateral note or bill , indorsed to the pledgee , has been transferred while current , and passed into the hands of third persons for value , and is still outstanding . ' The English Courts have ...
... default is made ; ' nor where the collateral note or bill , indorsed to the pledgee , has been transferred while current , and passed into the hands of third persons for value , and is still outstanding . ' The English Courts have ...
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Common terms and phrases
action advances Allen amount antecedent debt applied assignment Barb bill of lading bills of exchange bond and mortgage broker certificates of stock chose in action claim co-sureties collateral notes commercial paper Conn corporation course of business court of equity creditor deed of trust default defense delivery discharge enforce entitled equitable estoppel estoppel faith fraud fraudulent holder for value indorsed insolvent judgment legal title liability lien loan Longan maker Mass maturity ment misappropriation mortgage security mortgagor N. J. Eq National Bank negotiable instruments negotiable promissory note note and mortgage obligation Ohio St owner paid partner payment pledgee for value pledgee of negotiable pledgee's pledgor principal debtor principal note purchaser Railroad receipt received rule secured by mortgage shares of stock Smith sub-pledgee subrogation supra surety thereof thereto third person tion transaction transfer usury valid Watsontown Wend
Popular passages
Page 376 - That no association shall make any loan or discount on the security of the shares of its own capital stock, nor be the purchaser or holder of any such shares, unless such security or purchase shall be necessary to prevent loss upon a debt previously contracted in good faith...
Page 564 - ... where the true owner holds out another, or allows him to appear, as the owner of, or as having full power of disposition over the property, and innocent third parties are thus led into dealing with such apparent owner, they will be protected. Their rights in such cases do not depend upon the actual title or authority of the party with whom they deal directly, but are derived from the act of the real owner, which precludes him from disputing, as against them, the existence of the title or power...
Page 558 - If in the transaction itself which is in dispute one has led another into the belief of a certain state of facts, by conduct of. culpable negligence calculated to have that result, and such culpable negligence has been the proximate cause of leading, and has led, the other to act by mistake upon such belief to his prejudice, the second cannot be heard afterwards, as against the first, to show that the state of facts referred to did not exist.
Page 387 - State that where the principal has clothed his agent with power to do an act upon the existence of some extrinsic fact necessarily and peculiarly within the knowledge of the agent, and of the existence of which the act of executing the power is...
Page 206 - The mortgage was conditioned to secure the fulfillment of that contract. To let in such a defense against such a holder would be a clear departure from the agreement of the mortgagor and mortgagee, to which the assignee subsequently, in good faith, became a party. If the mortgagor desired to reserve such an advantage, he should have given a non-negotiable instrument. If one of two innocent persons must suffer by a deceit, it is more, consonant to reason that he who "puts trust and confidence in the...
Page 28 - A valuable consideration in the sense of the law may consist either in some right, interest, profit, or benefit accruing to the one party, or some forbearance, detriment, loss, or responsibility given, suffered, or undertaken by the other.
Page 490 - But the same reason applies to a signature made by a master out of the course of his employment. The taker assumes the risk not only of the genuineness of the signature and of the fact that the signer was master of the vessel, but also of the apparent authority of the master to issue the bill of lading.
Page 48 - He who chooses to put himself in the front of a negotiable instrument for the benefit of his friend, must abide the consequence (12 S. & R. 382), and has no more right to complain, if his friend accommodates himself by pledging it for an old debt, than if he had used it in any other way.
Page 490 - It is not an unlimited authority in the one case more than in the other; and his act, in either case, does not bind the owner, even in favor of an innocent purchaser, if the facts upon which his power depended did not exist ; and it is incumbent upon those who are about to change their condition, upon the faith of his authority, to ascertain the existence of all the facts upon which his authority depends.
Page 373 - Shareholder indebted to the Company, shall be permitted to make a transfer or receive a dividend, until such debt is paid or secured to the satisfaction of the Directors, and no transfer of stock shall, at any time, be made until all calls thereon have been paid in.