of the letter, may recover back the same from the letter writer. The circular note differs only from a special letter of credit in that it authorizes any one of a list of correspondents in different places, which are given in the letter, to advance money on drafts drawn on the faith of the letter of credit. This form of letter of credit is very commonly used by tourists throughout the world, certain banking firms making a special business of furnishing travelers with these letters of credit or circular notes. "Where the letter of credit authorizes the dawing of a bill of exchange on the letter writer, it amounts to an acceptance of such a bill, when it is drawn." Tiedeman on Commercial Paper, page 500. Who may accept. 176 Of bills in a set.. By two or more drawees. Notice of non-acceptance..(See Notice of ....-172 116 Liability of general acceptor.. Liability of accommodation acceptor.... Discharge of......(See Discharge and Ex- Dishonor.) II 98 87 68, 70, 92 tinguishment.) 175 176 68 68 68 68, 70, 92 Assignment Ambiguous instruments....(See Form and Es- Antecedent debt (See Pre-existing Debts). Assumed name: sential Characteristics.) 75 35 7 Transfer to or by. 100 Bankrupt: When drawee of a bill is, rights of.... Bearer: Instrument must be payable to, or order.. 9 Fictitious payee is bearer. "Cash" and "sundries" equivalent to.. When indorsed in blank. 4I 41 41 41 170 172 172 172 169 10, 37 12 12 18 When may be treated as promissory note... 43 Inland bill defined. Foreign bill defined. Order in required.. Form of... ΙΟ (See Acceptance.) Intentional will discharge instrument...... 153 Capacity.. Cash: Instrument payable to, is a bearer instru- Cashier: 4I Instrument payable to, payable to bank.... 39 Certificates of Stock: Provisions relating to. 163 186 Check: Indorser of, rights and liabilities.. .... 161 When presentment excused. Extension of time for payment, effect of... 162 161 Partial funds confer no rights to holder... 161 When overdue.. 162 Forged checks... Revocation of to bank or holder. Collateral Securities: Time note with, form of...... Collection: Indorsement for, effect of... Fees for, provided for in instrument.. Common Law: Defined 166 166 27 77 55 32 28 3 58 28 28 50 History of.... Defined What constitutes.. 3, 45 46 46 Presumption as to.. Failure of... Between what parties questioned.. Contingency: Instrument payable on not good. 47 47 48 47 34 Corporation: Power to make bills or notes.. 60 60 94 |