The Negotiable Instruments Law: From the Draft Prepared for the Commissioners on Uniformity of Laws, and Enacted in New York, Massachusetts, Rhode Island, Connecticut, Pennsylvania, District of Columbia, Maryland, Virginia, North Carolina, Tennessee, Florida, Wisconsin, North Dakota, Colorado, Utah, Oregon, and Washington : the Full Text of the Law as Enacted, with Copious Annotations |
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Page 24
... contract on a negotiable instrument is incomplete and revocable until delivery of the instrument for the purpose of giving effect thereto ( a ) . As between immediate parties , and as regards a remote party other than a holder in due ...
... contract on a negotiable instrument is incomplete and revocable until delivery of the instrument for the purpose of giving effect thereto ( a ) . As between immediate parties , and as regards a remote party other than a holder in due ...
Page 25
... contracts , a bill of exchange or promissory note has no legal inception or valid existence as such until it has been delivered in accordance with the purpose and intent of the parties . Burson v . Huntington , 21 Mich . 416 . ( b ) In ...
... contracts , a bill of exchange or promissory note has no legal inception or valid existence as such until it has been delivered in accordance with the purpose and intent of the parties . Burson v . Huntington , 21 Mich . 416 . ( b ) In ...
Page 32
... contract ( a ) . An antecedent or pre - existing debt constitutes value ; and is deemed such whether the instrument is payable on demand or at a future time ( b ) . ( a ) See Conover v . Stillwell , 34 N. J. Law , 54 ; Eaton v . Libbey ...
... contract ( a ) . An antecedent or pre - existing debt constitutes value ; and is deemed such whether the instrument is payable on demand or at a future time ( b ) . ( a ) See Conover v . Stillwell , 34 N. J. Law , 54 ; Eaton v . Libbey ...
Page 33
... contract is without express agreement by the creditor for an indulgence , is not an improper use of such paper , and is as much in the usual course of business as its transfer in payment of such debt ; and that in either case the bona ...
... contract is without express agreement by the creditor for an indulgence , is not an improper use of such paper , and is as much in the usual course of business as its transfer in payment of such debt ; and that in either case the bona ...
Page 34
... contract is that the drawee shall accept and pay according to the terms of the draft . The drawee can , of course , upon presentment refuse to accept , and in that event the only recourse of the holder is against the prior parties ...
... contract is that the drawee shall accept and pay according to the terms of the draft . The drawee can , of course , upon presentment refuse to accept , and in that event the only recourse of the holder is against the prior parties ...
Other editions - View all
The Negotiable Instruments Law: From the Draft Prepared for the ... John J (John Jay) B 1859 Crawford No preview available - 2021 |
The Negotiable Instruments Law: From the Draft Prepared for the ... John J. B. 1859 Crawford No preview available - 2016 |
Common terms and phrases
acceptance for honor acceptor agent authority Barb bill of exchange blank bona fide holder Byles on Bills Cayuga County Colorado commercial paper Conn Connecticut consideration Cush deemed delivery diligence discharged dishonored by non-acceptance drawn due course effect funds give notice given Gratt Gray held holder for value holder in due indorser instru instrument payable law merchant Laws N. Y. maker Mass Massachusetts maturity ment Metc N. J. Law National Bank negotiable instrument non-payment North Carolina North Dakota notary note payable notice of dishonor numbers Ohio St Oregon overdue paid paper payable on demand payable to bearer payee person Pick place of business presented for payment presentment for acceptance prior parties promissory note protest provision Rhode Island rule Savings Bank signature Smith statute sufficient thereof tion transfer Virginia and Washington waiver Wend Wisconsin Wisconsin Act York
Popular passages
Page 24 - ... the delivery may be shown to have been conditional, or for a special purpose only, and not for the purpose of transferring the property in the instrument. But where the instrument is in the hands of a holder in due course, a valid delivery thereof by all parties prior to him so as to make them liable to him is conclusively presumed.
Page 6 - Holder" means the payee or indorsee of a bill or note, who is in possession of it, or the bearer thereof.
Page 63 - A person placing his signature upon an instrument otherwise than as maker, drawer or acceptor, is deemed to be an indorser, unless he clearly indicates by appropriate words his intention to be bound in some other capacity.
Page 115 - A bill of itself does not operate as an assignment of the funds in the hands of the drawee available for the payment thereof, and the drawee is not liable on the bill unless and until he accepts the same.
Page 53 - 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 66 - 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 140 - A negotiable promissory note within the meaning of this, act is an unconditional promise in writing made by one person to another signed by the maker engaging to pay on demand, or at a fixed or determined future time, a sum certain- in money to order, or to bearer.
Page 80 - ... 1. Where the drawer and drawee are the same person. 2. Where the drawee is a fictitious person or a person not having capacity to contract. 3. Where the drawer is the person to whom the instrument is presented for payment. 4. Where the drawer has no right to expect or require that the drawee or acceptor will honor the instrument. 5. Where the drawer has countermanded payment.
Page 6 - primarily" liable on an instrument is the person who by the terms of the instrument is absolutely required to pay the same. All other parties are "secondarily
Page 39 - 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.