INDEX. REFERENCES ARE TO SECTIONS. ACCEPTANCE- See Presentment for; Acceptor. Defined, 132. Certification of check equivalent to acceptance, 187. Acceptance an appropriation of fund as against drawer and volunteers, 127 (a). Drawee not liable on bill until accepted by him, 127. Drawer engages that bill will be accepted, 61. Acceptance may be made by an agent, 145. Authority of agent must be in writing, 19. Must be in writing and signed, 132. Must be completed by delivery or notification, 190. May be on a separate paper, 132. If on separate paper, acceptor liable only to those who take on the faith of it, 134. May be by letter or telegraph, 132 (a). Holder may require acceptance on bill itself, 133. Destruction of bill or refusal to return deemed an acceptance, Promise to accept, when deemed an acceptance, 135. must be in writing, 135. Acceptance must be only for payment in money, 132. Of bill payable at sight dates from first presentment, 138. Acceptance, if delayed, dates from first presentment, 136. May be general or qualified, 139. General acceptance defined, 139. Acceptance to pay at a particular place, unless limited to that place only, is general, 140. Holder may treat bill as dishonored, if general acceptance be Qualified acceptance defined, 139. Holder may refuse to take qualified acceptance, 142. Taking a qualified acceptance discharges drawer and indorsers, Kinds of qualified acceptance, 141. Conditional acceptance, 141. Partial acceptance, 141. REFERENCES ARE TO SECTIONS. ACCEPTANCE-Continued. Local acceptance, 141. Acceptance qualified as to time, 141. Acceptance by some, but not all, of drawees, 141. Holder's right of recourse against drawer and indorsers arises on non-acceptance, 151. When bill is dishonored by non-acceptance, 149. Bill duly presented and not accepted must be treated as dis- Omission to give notice of non-acceptance does not prejudice ACCEPTANCE FOR HONOR SUPRA PROTEST- See Acceptance; Acceptor for Honor. In what cases it may be made, 161. Can not be made unless bill protested, 161 (a). Must be made with consent of holder, 160. For whose honor it may be made, 161. Deemed to be for honor of drawer unless otherwise specified, 163. May be for part of sum, 161. Must be in writing and signed, 162. Need not be before notary, 162 (a). Must show its character, 162. Maturity of bill payable after sight and accepted for honor, 166. ACCEPTOR- See Acceptance; Drawee. Is principal debtor, 62 (b). Presentment for payment not necessary in order to charge, 70. Admits genuineness of drawer's signature, 62. Admits drawer's capacity to draw, 62. Admits drawer's authority to draw, 62. Admits existence of payee, 62. Admits payee's capacity to indorse, 62. Liability of, 62. Engages to pay according to tenor of acceptance, 62. Liability of on "raised" bill, 62 (b). Recovery of excess paid from holder, 62 (b). from drawer, 62 (b). REFERENCES ARE TO SECTIONS. ACCEPTOR-Continued. For accommodation drawer, 29 (c). can not recover from accommodating When acceptor insolvent bill may be protested for better se- curity, 158. ACCEPTOR FOR HONOR- See Acceptance for Honor. Liability of, 164. Engagement of, 165. Protest for non-payment necessary to charge, 165, 167. Presentment for payment to drawee necessary to charge, 165. ACCOMMODATION PAPER- Payment of by party accommodated discharges, 119. ACCOMMODATION PARTY— Defined, 29. Liability of, 29. Rights of on payment of instrument, 121. Accommodation acceptor can not recover from accommodating ACCOUNT TO BE DEBITED- Mere indication of does not affect negotiability, 3. ACTION- See Limitation of Action. Term includes counterclaim and set-off, 190. Holder may sue in his own name, 51. Though holding under a restrictive indorsement as "for col- AGENT- See Principal and Agent. Signature of party by, 19. Authority to sign must be in writing, 19. Form of signature of, 20 (a). Liability of person signing as, 20. Liability of on transfer without indorsement, 69. May give notice of dishonor, 91. Notice of dishonor by, when instrument dishonored in his hands, 94. Notice of dishonor may be given to, 97. ALTERATION OF INSTRUMENT- Material alteration avoids instrument, 124. Although made by a stranger to it, 124 (a). REFERENCES ARE TO SECTIONS. ALTERATION OF INSTRUMENT-Continued. But not as against party authorizing or consenting, or subse- Whether or not an alteration has been made is a question of Materiality of alteration is a question of law, 124 (a). Holder may enforce payment according to original tenor, 124. Alteration as to date, 125. as to sum payable, 125. as to time of payment, 125. as to place of payment, 125. as to number or relation of parties, 125. as to medium of payment, 125. other changes, 125. Intent in making alteration is immaterial as to effect on in- strument, 124 (a). But a material alteration fraudulently made extinguishes the Estoppel to set up alteration, 124 (a). Burden of explaining apparent alteration, 124 (a). AMOUNT PAYABLE- See Sum Certain. Where discrepancy between words and figures, 17. Holder may enforce payment of full amount against all parties, AMBIGUOUS INSTRUMENT- Construction of, 17. ANOMALOUS INDORSER- See Indorser. ANTECEDENT DEBT- Constitutes value, 25. Effect of taking instrument as collateral security for, 25 (b). Does not make instrument invalid unless made illegally or Holder acquires title as of date of delivery, 12. ASSIGNMENT OF FUNDS- Bill or check of itself is not, 127, 189. Acceptance is an appropriation of fund as against drawer and volunteers under him, 127 (a). |