DRAWER'S SIGNATURE,

admission of, 223–225

DURESS,

as an equity, 252.

E.

EPIDEMIC,

as excuse of presentment, 119, 120.

EQUITIES,

distinguished from absolute defences, 200, 201, 232
imply contract, 232.

domain of bona fide holders for value, 232.

term 'bona fide holder for value,' 233.

term 'bona fide holder,' 233.

notice of, 233-241.

confusion of terms of notice, 233–237.

absolute notice, 233, 234, 240.

constructive notice, 234-239.

putting upon inquiry, 234–239.

negligence not bad faith, 235, 236.

reasonable suspicion of wrong-doing, 236, 337.

purchase from trustee, 237, 238.

statement of consideration, 238.

misuse of partnership name, 238.

potential equity, 239.

knowledge of equities, 240.

notice in sense of knowledge, 240, n.

forms of absolute notice, 240, 241.

information of equity, 240.

term holder for value,' 241-250.

complement of 'bona fide holder,' 241.

valuable consideration, 241–250.

conflict of authority in regard to taking for pre-existing debt, 242-

247.

'valid' consideration, 242.

New York doctrine, 243, 244.

doctrine of federal courts, 244, 245.

of English courts, 246.

subject considered in principle, 246, 247.

creditor taking as agent or bailee, 247.

taking accommodation paper for pre-existing debt, 248.

forbearance, 248.

implication of agreement to forbear, 248.

parting with rights, 249.

conditional payment and collateral security, 249.

paper taken in absolute payment, 249, 250.

newly created debt, 250.

existence of equities, how shown, 250-257.

INDEX.

333

EQUITIES-continued.

existence of equities,―continued.

fraud, duress, and illegality, 250-252.
these a presumptive defence, 251.
other equities, 252, 253.

subsequent notice, 253.

what meant by equities, 254.

accommodation paper, 254.

fraudulent diversion thereof, 254, 255.

filling blank spaces in instrument, 255.

set-off, 256.

holder with notice or without value taking from bona fide holder for
value, 256, 257.

amount of recovery, 257, 258.

buying paper outright, 257, 258.

taking paper as security, 258.

certificate of protest as, 129-133.

as to liability of indorser, 5, 6, 104.

indorser's competency as witness for another party, to impeach paper,

EXCUSE OF PROTEST,- continued.

as to inland bills, 175, 176.

as to promissory notes and cheques, 175, 176.

FICTIONS,

F.

by which foreign bills were adopted, 3, 4.
FICTITIOUS PAYEE, 26.

FORBEARANCE,

agreement for, as a discharge of surety, 260-263.
FOREIGN BILLS,

how adopted into the law, 3, 4.

(See PRESENTMENT AND DEMAND.)

GUARANTY AND SURETYSHIP,

guaranty as indorsement, 93, 94.

accommodation party a surety sub modo, 185, 186.
distinction between guaranty and suretyship, 188, 189.

guaranty in specific sense, 189–195.

consideration, 190-193.

guaranty at time of principal contract, 190.

guaranty afterwards, 191.

Statute of Frauds, 191, 192.

GUARANTY AND SURETYSHIP,- continued.
negotiability of guaranty, 192-195.

of bonds, 195, n.

grace, 195.

presentment and notice, 195.

suretyship in specific sense, 195, 196.

discharge of surety, 259–268.

indorser a surety, 259.

the Statute, 259, 260.
surrender of securities, 260.
agreement for time, 260-263.

presumptive effect, 261, 262.
reservation of rights, 261-263.
release in technical sense, 263.
mere indulgence, 263.

taking further security, 263-265.
valid agreement for time, 265.

limits of right of reservation, 266.

request to sue, 266–267.

accommodation contracts, 267, 268.
agreement with stranger, 268.
ground of doctrine, 268.

HOLDER'S POSITION,

H.

right to sue mediate party, 198, 199.

presumptive right of holder, 198.

absolute defences distinguished from equities, 200, 201

HONOR,

acceptance for, 61-63.

payment for, 276, 277.

I.

IGNORANCE OF FACT,
in waiver, 169, 170.
IGNORANCE OF LAW,

in waiver, 169, 170.

ILLEGALITY,

an absolute defence, 229-231.
INDORSEMENT,

what constitutes, 83, 84.

of unnegotiable instrument, 84, 85

who may or must indorse, 84-89.

by the holder, 84.

by stranger, 84.

instruments to order, 84.

to bearer, 84, 85.

INDORSEMENT, - continued.

who may or must indorse, - continued.
note to maker's own order, 85, n.

unnecessary indorsement may be struck out, 85.

delivery without indorsing paper payable to order, 85.
indorser's own name not used, 86.

holder having legal title should indorse, 86.

in cases of partnership, 87, 88.

death of partner, 87, 88.

dissolution not by death, 88.

by agent, 88, 89.

partial indorsement, 89, 90.

modes of, 90-95.

special indorsement, 90.

converting blank into special, 90.

restrictive, 91.

conditional, 91.

with waiver, 92.

joint indorsement, 92.

should conform to custom, 92, 93.

irregular indorsement, 93.

in form of guaranty, 93, 94.

construction of language, 94.

as an order, 95, 96.

how far equivalent to drawing bill, 95, 96.

order of liability, 96, 97.

presumptive, 96, 97.

nature of contract, 97.

incidents of contract, 98-102.

admission or warranty of genuineness, 98–101.

uncertainty of the cases, 98, 99.

the Statute not clear, 99, 100.

warranty negotiable, 101.

competency of indorser to impeach the contract, 101, 102.
apparent but not real indorsement, inter partes, 102-104.
evidence to control indorsement, 102-104.

parol evidence rule wrongly applied, 104.
presentment and demand, 105-108.

distinction between, 105.

presentment, what is, 105.

demand, what is, 105.

when presentment required, 106.

equivalents, 106-108.

paper payable at bank, 106, 107.

knowledge of bank, 107.

paper lodged in bank for collection, 107.

demand in such case, 107, 108.

place of presentment, 108-112.

payable at bank or not, 108.