A General Act Relative to Negotiable Instruments: (being an Act to Establish a Law Uniform with the Laws of Other States on that Subject), Embodying the General and Most Recently Accepted Principles of the Law of Bills of Exchange, Promissory Notes and ChecksBoston Clearing House, 1898 - 38 pages |
From inside the book
Results 1-5 of 6
Page 6
... validity of the instrument or render it valueless . " But when the negotiation is by delivery only the warranty extends in favor of no holder other than the immediate transferee . " The provisions of subdivision three of this section do ...
... validity of the instrument or render it valueless . " But when the negotiation is by delivery only the warranty extends in favor of no holder other than the immediate transferee . " The provisions of subdivision three of this section do ...
Page 7
... valid and subsisting . " 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 is dishonored , and the necessary proceedings on ...
... valid and subsisting . " 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 is dishonored , and the necessary proceedings on ...
Page 10
... validity and negotiable character of an instrument are not affected by the fact that : I. It is not dated ; or 2 . Does not specify the value given , or that any value has been given therefor ; or 3. Does not specify the place where it ...
... validity and negotiable character of an instrument are not affected by the fact that : I. It is not dated ; or 2 . Does not specify the value given , or that any value has been given therefor ; or 3. Does not specify the place where it ...
Page 12
... valid contract SECTION 15. Where an incomplete instrument has delivered not a not been delivered it will not , if completed and negotiated in certain cases . without authority , be a valid contract in the hands of any holder , as ...
... valid contract SECTION 15. Where an incomplete instrument has delivered not a not been delivered it will not , if completed and negotiated in certain cases . without authority , be a valid contract in the hands of any holder , as ...
Page 13
... valid and intentional delivery by him is presumed until the contrary is proved . where language SECTION 17. Where the language of the instrument Rules to apply is ambiguous , or there are omissions therein , the follow- is ambiguous ...
... valid and intentional delivery by him is presumed until the contrary is proved . where language SECTION 17. Where the language of the instrument Rules to apply is ambiguous , or there are omissions therein , the follow- is ambiguous ...
Other editions - View all
A General ACT Relative to Negotiable Instruments: Being an ACT to Establish ... Massachusetts Massachusetts No preview available - 2017 |
A General ACT Relative to Negotiable Instruments: Being an ACT to Establish ... Massachusetts Massachusetts No preview available - 2017 |
Common terms and phrases
acceptance for honor agent assent authority bank or corporation behalf bill is dishonored bill is drawn bill of exchange blank capacity to contract deemed a holder deemed prima facie dishon dishonored by non-acceptance drawer and indorsers due course due presentment excused expressly fixed period foreign bill giving notice holder for value holder in due instru instrument is payable instrument negotiable law merchant maker or drawer Massachusetts maturity ment negotiable instrument negotiated by delivery notice is given notice of dishonor parties subsequent partners party secondarily liable payable on demand payable to bearer payer for honor payment is specified person negotiating person primarily liable place of business place of payment post office presented for acceptance presented for payment principal debtor prior parties promissory note provisions qualified acceptance reasonable diligence receive notice refuse restrictive indorsement right of recourse SECTION signed strument sum certain sum payable transfer unless valid waiver
Popular passages
Page 14 - Where a signature is forged or made without the authority of the person whose signature it purports to be, it is wholly inoperative, and no right to retain the instrument, or to give a discharge therefor, or to enforce payment thereof against any party thereto, can be acquired through or under such signature, unless the party against whom it is sought to enforce such right is precluded from setting up the forgery or want of authority.
Page 9 - 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 18 - 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 15 - 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 29 - The drawer of a bill and any indorser may insert thereon the name of a person to whom the holder may resort in case of need, that is to say, in case the bill is dishonored by non-acceptance or nonpayment. Such person is called the referee in case of need.
Page 15 - The indorsement must be an indorsement of the entire instrument. An indorsement, which purports to transfer to the indorsee a part only of the amount payable, or which purports to transfer the instrument to two or more indorsees severally, does not operate as a negotiation of the instrument. But where the instrument has been paid in part, it may be indorsed as to the residue.
Page 15 - An instrument is negotiated when it is transferred from one person to another in such manner as to constitute the transferee the holder thereof. If payable to bearer it is negotiated by delivery ; if payable to order it is negotiated by the indorsement of the holder completed by delivery.
Page 26 - 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. Where the indorser is the person to whom the instrument is presented for payment; 3. Where the instrument was made or accepted for his accommodation.
Page 18 - 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 37 - A check is a bill of exchange drawn on a bank payable on demand. Except as herein otherwise provided, the provisions of this act applicable to a bill of exchange payable on demand apply to a check.