The Law of Bills, Notes, and Cheques |
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Page 18
... refusal , on the day of maturity , though there may be no dis- honor on that day for the purpose of suit . The better rule therefore is , that the parties to the instrument are entitled to the whole of the day of maturity , and are ...
... refusal , on the day of maturity , though there may be no dis- honor on that day for the purpose of suit . The better rule therefore is , that the parties to the instrument are entitled to the whole of the day of maturity , and are ...
Page 42
... refusal to pay , on the day of maturity , made by any one of the partners , would be a breach of contract by all , for the purpose of giving a valid notice of dishonor on that day , though not by the better rule , for the purpose of ...
... refusal to pay , on the day of maturity , made by any one of the partners , would be a breach of contract by all , for the purpose of giving a valid notice of dishonor on that day , though not by the better rule , for the purpose of ...
Page 43
... refusal by all . § 3. SIGNING AS SURETY . Another modification of the typical case occurs where one of the promisors undertakes as surety . If the fact of suretyship is shown upon the note , the holder must govern him- - - self ...
... refusal by all . § 3. SIGNING AS SURETY . Another modification of the typical case occurs where one of the promisors undertakes as surety . If the fact of suretyship is shown upon the note , the holder must govern him- - - self ...
Page 50
... refusal to honor the paper because as drawee he owes no duty to him . Until acceptance he owes no duty to any one , unless it be to the drawer ; and to the drawer his duty is one of the com- mon law only . The instrument is not an ...
... refusal to honor the paper because as drawee he owes no duty to him . Until acceptance he owes no duty to any one , unless it be to the drawer ; and to the drawer his duty is one of the com- mon law only . The instrument is not an ...
Page 51
... refusal to pay , for the drawer never requested him to pay . If no drawee is named in a draft , the instrument may be treated either as a note ( or it is said ) as a bill . If it is treated as a bill , the drawer may be deemed drawee ...
... refusal to pay , for the drawer never requested him to pay . If no drawee is named in a draft , the instrument may be treated either as a note ( or it is said ) as a bill . If it is treated as a bill , the drawer may be deemed drawee ...
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Common terms and phrases
accommodation agent alteration authority Bank of United bill of exchange bona fide holder cheque common law consideration constructive notice contract courts creditor custom debt deemed defendant is indorser delivery demand discharged doctrine drawer due course entitled equities estoppel evidence example excuse fact favor fixed foreign bill fraud give notice given Gratt guaranty holder for value holder in due honor indorser's inland bill instru instrument is payable law merchant liability maker or acceptor Mass maturity ment National Bank necessary negotiable instrument non-payment notary notice of dishonor notifying Ohio St paper payable payee Penn person place of business place of payment post-office presented for payment presentment for acceptance presumptively promise to pay promissory note protest reasonable diligence received regard residence rule signature Statute Statute of Frauds sum certain supra surety suretyship Tenn thereon tion treated unless unwritten law waiver warranty Wend words
Popular passages
Page 293 - 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 287 - An unqualified order or promise to pay is unconditional within the meaning of this act, though coupled with — 1. An indication of a particular fund out of which reimbursement is to be made, or a particular account to be debited with the amount; or 2. A statement of the transaction which gives rise to the instrument.
Page 313 - Notice of dishonor is not required to be given to an indorser in either of the following cases : 1. Where the drawee is a fictitious person or a person not having capacity to contract, and the indorser was aware of the fact at the time he indorsed the instrument; 2.
Page 296 - A holder in due course is a holder who has taken the instrument under the following conditions : — 1. 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 297 - 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 298 - And, in addition, he engages that on due presentment, it shall be accepted or paid, or both, as the case may be, according to its tenor, and that if it be dishonored, and the necessary proceedings on dishonor be duly taken, he will pay the amount thereof to the holder, or to any subsequent indorser who may be compelled to pay it.
Page 286 - An instrument to be negotiable must conform to the following requirements: 1. It must be in writing and signed by the maker or drawer ; 2. Must contain an unconditional promise or order to pay a sum certain in money ; 3.
Page 288 - Does not specify the place where it is drawn or the place where it is payable; or 5.
Page 318 - A (negotiable) promissory note is an unconditional promise in writing made by one person to another, signed by the maker, engaging to pay on demand, or at a fixed • or determinable future time, a sum certain in money to order or to bearer.
Page 298 - The acceptor by accepting the instrument engages that he will pay it according to the tenor of his acceptance ; and admits — 1. The existence of the drawer, the genuineness of his signature, and his capacity and authority to draw the instrument; and 2. The existence of the payee and his then capacity to indorse.