The Law of Promissory Notes, Drafts, Checks, Etc |
From inside the book
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Page 16
... taken to make known the agency . The safest way to sign is to write the name of the principal - be it individual or corporation — and then sign as agent or officer . For example : The Mercum Trading Co. , 66 per Wm . Long , Treasurer ...
... taken to make known the agency . The safest way to sign is to write the name of the principal - be it individual or corporation — and then sign as agent or officer . For example : The Mercum Trading Co. , 66 per Wm . Long , Treasurer ...
Page 17
... taken too broadly . If an instru- ment , say a promissory note - the name of the maker being forged - comes into possession of B. , the payee , who transfers it to C. , C. can recover from B. , because B. has , by indorsing and ...
... taken too broadly . If an instru- ment , say a promissory note - the name of the maker being forged - comes into possession of B. , the payee , who transfers it to C. , C. can recover from B. , because B. has , by indorsing and ...
Page 26
... taken for granted that the delivery was valid , and that all transactions were properly carried out . This is again the language of the statute . The cases do not hold this true , nor does the writer believe it to be good law ...
... taken for granted that the delivery was valid , and that all transactions were properly carried out . This is again the language of the statute . The cases do not hold this true , nor does the writer believe it to be good law ...
Page 42
... taken to mean to . It is a wide stretch of the imagination to construe the address in the first case as a drawee , but such was the case . Of course , there may be two or more drawees named ; and in such a case , they are jointly liable ...
... taken to mean to . It is a wide stretch of the imagination to construe the address in the first case as a drawee , but such was the case . Of course , there may be two or more drawees named ; and in such a case , they are jointly liable ...
Page 71
... taken the instrument under the following conditions : ( 1 ) That it is complete and regular upon its face . This means nothing more nor less than that the instrument must have the form and characteristics spoken of in Part II - i.e ...
... taken the instrument under the following conditions : ( 1 ) That it is complete and regular upon its face . This means nothing more nor less than that the instrument must have the form and characteristics spoken of in Part II - i.e ...
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Common terms and phrases
acceptance for honor Accepted Supra Protest acceptor accommodation party agent amount authority bank bearer instrument bill of exchange bill of lading bill or draft bill or note blank bona fide holder Borst ceptance certificates charge consideration contract courts debt debtor depositor discharged dorser draft or bill drawer and indorsers drawn duly February 29 fraud give notice given held hold holder for value immediate parties instance instru instrument payable James Robinson John Doe Jones law merchant liable maker maturity ment necessary negotiable instrument non-payment note or draft notice of dishonor notify paid paper pay the instrument payable on demand payee person place of business presented for payment promise to pay promissory note reasonable receipt recover refused residence Robinson & Co sentment signature signed statute strument sufficient sum certain supra protest thereon tion unless valid value without notice William Smith words York
Popular passages
Page 10 - A bill of exchange is an unconditional order in writing, addressed by one person to another, signed by the person giving it, requiring the person to whom it is addressed to pay on demand or at a fixed or determinable future time a sum certain in money to or to the order of a specified person, or to bearer.
Page 91 - 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 117 - 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 173 - The acceptor for honor by such acceptance engages that he will on due presentment pay the bill according to the terms of his acceptance: Provided, It shall not have been paid by the drawee: And provided also, That it shall have been duly presented for payment and protested for non-payment and notice of dishonor given to him.
Page 116 - Where the holder of a bill drawn payable elsewhere than at the place of business or the residence of the drawee has not time with the exercise of reasonable diligence to present the bill for acceptance before presenting it for payment on the day that it falls due, the delay caused by presenting the bill for acceptance before presenting it for payment is excused, and does not discharge the drawers and indorsers.
Page 139 - Where the person giving and the person to receive notice reside in the same place, notice must be given within the following times : (1) If given at the place of business of the person to receive notice, it must be given before the close of business hours on the day following...
Page 170 - Where the holder of a set indorses two or more parts to different persons he is liable on every such part, and every indorser subsequent to him is liable on the part he has himself indorsed, as if such parts were separate bills.
Page 98 - Every person negotiating an instrument by delivery or by a qualified indorsement, warrants, — 1. That the instrument is genuine and in all respects what it purports to be; 2. That he has a good title to it; 3. That all prior parties had capacity to contract; 4. That he has no knowledge of any fact which would impair the validity of the instrument or render it valueless.
Page 63 - If the instrument is payable to the order of the maker or drawer, or is payable to bearer, he is liable to all parties subsequent to the maker or drawer.
Page 116 - Where a bill is addressed to two or more drawees who are not partners, presentment must be made to them all, unless one has authority to accept or refuse acceptance for all, in which case presentment may be made to him only ; 2.