The Negotiable Instruments Law: From the Draft Prepared for the Commissioners on Uniformity of Laws ... The Full Text of the Law as Enacted, with Copious Annotations |
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Page 13
... case any taxes or assessments shall be levied against the holder on account of the note , then the whole amount secured shall become due and pay- able and the mortgagee may at once proceed to collect the note and foreclose the mortgage ...
... case any taxes or assessments shall be levied against the holder on account of the note , then the whole amount secured shall become due and pay- able and the mortgagee may at once proceed to collect the note and foreclose the mortgage ...
Page 18
... holder in due course conditional upon the performance of the contract intended to be referred to by the maker . National Bank of Newbury v . Wentworth , 218 Mass . 30. So , in a late case in New York , it was held that a note in the ...
... holder in due course conditional upon the performance of the contract intended to be referred to by the maker . National Bank of Newbury v . Wentworth , 218 Mass . 30. So , in a late case in New York , it was held that a note in the ...
Page 20
... case the legal rights of a holder are clear and certain ; the note is due at a time fixed , and it is not due before . The option of the maker , if exercised , would be a payment in advance of the legal liability to pay , and nothing ...
... case the legal rights of a holder are clear and certain ; the note is due at a time fixed , and it is not due before . The option of the maker , if exercised , would be a payment in advance of the legal liability to pay , and nothing ...
Page 21
... due at any time he may elect before maturity , does not destroy the negotiability of the note . Fisher v . O'Hanlon , 93 Neb . 529. So , a provision in a note that it shall become due at the option of the holder in case of nonpayment of ...
... due at any time he may elect before maturity , does not destroy the negotiability of the note . Fisher v . O'Hanlon , 93 Neb . 529. So , a provision in a note that it shall become due at the option of the holder in case of nonpayment of ...
Page 22
... holder may enter judgment thereon at any time whether due or not , it is non - negotiable , since the time of payment may depend upon the whim or caprice of the holder , and is wholly uncertain . First Nat . Bank of Elgin v . Russell ...
... holder may enter judgment thereon at any time whether due or not , it is non - negotiable , since the time of payment may depend upon the whim or caprice of the holder , and is wholly uncertain . First Nat . Bank of Elgin v . Russell ...
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Common terms and phrases
acceptance acceptor accommodation agent amount apply authority bill of exchange Cayuga County City Bank collateral Colo commercial paper common law Conn contract corporation court deemed defense delivery discharged dorser drawee drawer due course Exchange Bank fact Fourth Nat give notice given Gratt held holder for value holder in due honor indorser instru instrument payable Iowa law merchant maker Mass maturity ment Miller Misc N. J. Law N. W. Rep National Bank negotiable instrument non-negotiable Northampton Brewing Co note payable note to section notice of dishonor Ohio St Oregon payable on demand payable to bearer payable to order payee person presented for payment prior parties promissory note protest provision Rule at common Savings Bank signature Smith statute strument sufficient Tenn thereof tion transfer Trust waiver warranty Wash Wend words York
Popular passages
Page 245 - A cheque is a Bill of Exchange drawn on a banker payable on demand. Promissory Note. — A Promissory Note 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...
Page 95 - That it is complete and regular upon its face; 2. That he became the holder of it before it was overdue, and without notice that it had been previously dishonored, if such was the fact; 3. That he took it in good faith and for value; 4. That at the time it was negotiated to him he had no notice of any infirmity in the instrument or defect in the title of the person negotiating it.
Page 102 - 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 128 - 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 212 - 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 206 - Where a negotiable instrument is materially altered without the assent of all parties liable thereon, it is avoided except as against a party who has himself made, authorized or assented to the alteration and subsequent indorsers.
Page 11 - An instrument to be negotiable must conform to the following requirements: 1. It must be in writing and signed by the maker or drawer. 2. Must contain an unconditional promise or order to pay a sum certain in money.
Page 113 - In the hands of any holder other than a holder in due course, a negotiable instrument is subject to the same defenses as if it were negotiable. But a holder who derives his title through a holder in due course...
Page 229 - 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 28 - An instrument is payable on demand — 1. Where it is expressed to be payable on demand, or at sight, or on presentation; or 2. In which no time for payment is expressed. Where an instrument is issued, accepted, or indorsed when overdue, it is, as regards the person so issuing, accepting, or indorsing it, payable on demand.