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able acceptance action adopted amendment annual appeal Appellate Court application appointed Bar Association believe bill Block Chicago Building Chicago called cause Chair Chairman Charles Circuit commission committee common law consideration Constitution corporation course desire district duty effect Executive fact favor follows Frank gentlemen George give given Henry holder honor Illinois important indorsement interest James John Judge JUDGE Gross judgment Justice lawyer legislation Legislature matter meeting Moses motion move negotiable notice opinion party passed payment person practice present PROCEEDINGS question reason received recommend record referred reform regard resolution rules Secretary seems session Springfield statute Street suggestion Supreme Court taken term things Thomas tion Title trial Trust United VICE PRESIDENT Wood
Page 108 - Every holder is deemed prima facie to be a holder in due course ; but when it is shown that the title of any person who has negotiated the instrument was defective, the burden is on the holder to prove that he or some person under whom he claims acquired the title as a holder in due course.
Page 103 - ... 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 104 - Where the instrument contains or a person adds to his signature words indicating that he signs for or on behalf of a principal, or in a representative capacity, he is not liable on the instrument if he was duly authorized; but the mere addition of words describing him as an agent, or as filling a representative character, without disclosing his principal, does not exempt him from personal liability.
Page 112 - Except as herein otherwise provided, when a negotiable instrument has been dishonored by nonacceptance or nonpayment, notice of dishonor must be given to the drawer and to each indorser, and any drawer or indorser to whom such notice is not given is discharged.
Page 108 - The title of a person who negotiates an instrument is defective within the meaning of this Act when he obtained the instrument, or any signature thereto, by fraud, duress, or force and fear, or other unlawful means, or for an illegal consideration or when he negotiates it in breach of faith, or under such circumstances as amount to a fraud.
Page 107 - That it is complete and regular upon its face; 2. That he became the holder of it before it was overdue, and without notice that it had been previously dishonored, if such was the fact; 3. That he took it in good faith and for value; 4. That at the time it was negotiated to him he had no notice of any infirmity in the instrument or defect in the title of the person negotiating it.
Page 110 - As respects one another, indorsers are liable prima facie in the order in which they indorse; but evidence is admissible to show that as between or among themselves they have agreed otherwise. Joint payees or joint indorsees who indorse are deemed to indorse jointly and severally.
Page 119 - The holder may refuse to take a qualified acceptance, and if he does not obtain an unqualified acceptance, he may treat the bill as dishonored by non-acceptance. Where a qualified acceptance is taken, the drawer and indorsers are discharged from liability on the bill, unless they have expressly or impliedly authorized the holder to take a qualified acceptance, or subsequently assent thereto.