Page images
PDF
EPUB

CHAPTER 9.

THE FORMATION OF THE CONTRACT OF PARTIES FOR

ACCOMMODATION OR FOR HONOR.

Sec. 54. Accommodation party defined.
Sec. 55. Acceptance for honor.
Sec. 56. Payment for honor.

PART III.

OPERATION OF THE CONTRACT.

CHAPTER 10.

NEGOTIATION.

A. In General of Negotiation and Indorsement.

Sec. 57. Meaning of negotiation.
Sec. 58. Kinds of negotiation.
Sec. 59. How indorsement accomplished.
Sec. 60. Attempted partial indorsement.
Sec. 61. Effect of indorsement to transfer incidents.
Sec. 62. Presumptions as to indorsements.
Sec. 63. Miscellaneous rules concerning indorsement.

B. Kinds of Indorsements.

Sec. 64. Special indorsement.
Sec. 65. Blank indorsement.
Sec. 66. Qualified indorsement.
Sec. 67. Restrictive indorsement.
Sec. 68. Conditional indorsement.

CHAPTER 11.

HOLDER IN DUE COURSE.

Sec. 69. Introduction,
Sec. 70. Who is holder in due course. ,
Sec. 71. Complete and regular upon its face.
Sec. 72. Transferee must give value.

(1) Only necessary to make one holder in due

course.
(2) What constitutes value.
(3) Less than face value as value.

(4) Payment after notice.
Sec. 73. Transferee must take in good faith.

(1) In general.
(2) Payment of less than face value as show-

ing bad faith.
(3) Knowledge that consideration is still un-

performed. Sec. 74. Transferee must acquire instrument before

overdue. (1) In general. (2) When demand paper overdue. (3) Interest overdue. (4) Installment of principal overdue. . (5) Interest overdue and right to declare

entire instrument due. (6) Overdue paper sold in breach of trust.

(7) How time computed. Sec. 75. Indorsement requisite. Sec. 76. Transferee of holder in due course as holder in

due course. Sec. 77. Burden of proof as to whether one is holder in

due course. Sec. 78. Amount recoverable by holder in due course.

CHAPTER 12.

DEFENSES AGAINST HOLDER IN DUE COURSE.

A. Defenses not Available Against Holder in Due Course

Personal Defenses.

Sec. 79. In general.
Sec. 80. Payment before maturity.
Sec. 81. Set off.
Sec. 82. Want of consideration.
Sec. 83. Failure of consideration.
Sec. 84. Fraud in consideration.
Sec. 85. Duress.
Sec. 86. Illegality of consideration.
Sec. 87. Lack of authority of agent known to payee.
Sec. 88. Lack of authority of partner.
Sec. 89. Lack of authority of corporate officer.

B. Defenses Available Against Holder in Due Course

Real Defenses.

Sec. 90. Real defenses defined.
Sec. 91. Personal incapacity of defendant.
Sec. 92. Forgery.
Sec. 93. Material alteration.
Sec. 94. Fraud in execution.
Sec. 95. Illegality voiding under statute.

CHAPTER 13.

THE OBLIGATIONS OF THE PARTIES.

Sec. 96. Of maker of note.
Sec. 97. Of drawer of bill.

Sec. 98. Of drawer of bill or check.
Sec. 99. Of acceptor.
Sec. 100. Of unqualified indorser.
Sec. 101. Warranty where negotiation by mere delivery.
Sec. 102. Contract of qualified indorser.
Sec. 103. Contract of irregular indorser.
Sec. 104. Order of liability among indorsers.

CHAPTER 14.

PRESENTMENT FOR PAYMENT AND FOR ACCEPTANCE.

Sec. 105. General statement.

A. Presentment for Payment at Maturity to Parties Pri

marily Liable.

Sec. 106. Not necessary to charge parties primarily

liable. Sec. 107. Presentment for payment necessary to charge

parties secondarily liable. Sec. 108. What presentment sufficient.

(1) Presentment by whom.
(2) Date of presentment.
(3) Hour of presentment.
(4) Place of presentment.
(5) To whom presented.

(6) Instrument exhibited. Sec. 109. When presentment for payment not required.

(1) Drawer no right to expect when.
(2) Accommodation to indorser.
(3) Not possible with due diligence.
(4) Drawee fictitious.
(5) Waiver of presentment.

B. Presentment of Bill for Acceptance.

Sec. 110. Presentment for acceptance necessary in

certain cases.
Sec. 111. What presentment for acceptance sufficient.

(1) Party who must make.
(2) Date of presentment
(3) Hour.

(4) To whom.
Sec. 112. When excused.
Sec. 113. Rights of holder where bill not accepted.

[merged small][merged small][ocr errors]

Sec. 114. Notice of dishonor necessary to charge

drawer and indorser.
Sec. 115. What notice sufficient.
Sec. 116. When notice to drawer is excused.
Sec. 117. Where notice to indorser excused.
Sec. 118. When notice of dishonor waived.

CHAPTER 16.

PROTEST.

Sec. 119. Protest necessary to charge drawer and

indorser of foreign bill.
Sec. 120. Who authorized to make protest.
Sec. 121. Time, place and manner of protest.
Sec. 122. Protest dispensed with or waived.

« PreviousContinue »