THE NEGOTIABLE INSTRUMENT LAW.

No. 153, A.]

[Published May 15, 1899.

CHAPTER 356.

AN ACT relating to negotiable instruments and to establish a law uniform with such other states as have adopted or shall adopt like provisions, and amendatory of chapter 78 of the Wisconsin statutes of 1898.

The people of the state of Wisconsin, represented in senate and assembly, do enact as follows:

SECTION 1. Chapter seventy-eight of the Wisconsin statutes of 1898 is hereby amended so as to read as follows:

GENERAL PROVISIONS.

Section 1675. In this chapter unless the con- Terms defined. text otherwise requires,—

"Acceptance" means an acceptance completed by delivery or notification.

"Action" includes counter-claim and set-off. "Bank" includes any person or association of persons carrying on the business of banking, whether incorporated or not.

"Bearer" means the person in possession of a bill or note which is payable to bearer.

"Bill" means bill of exchange, and "note" means negotiable promissory note.

"Delivery" means transfer of pessession, actual or constructive from one person to another. "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.