them, to said payee or to the legal holder hereof (including any liability or liabilities of any partnership created while the undersigned, or any of them, may have been or be a member thereof), whether the same be due or not, all property, real or personal, of every kind and description, including balances, credits, collections, moneys, drafts, checks, notes, bills, or accounts (whether on hand or in transit) of the undersigned, or any of them. The Richard Roe Manufacturing Company. By Richard Roe, President. Address (See also a simpler form in Case 439.) -100 (b) Judgment Note. Chicago, August 15,-1923 -Sixty days- -after date for value received-1- -promise to Pay to the order of- John Doe-One Hundred ($100)——Dollars atCommonwealth State Bank, Chicago, Ill.,- -with interest at- -6- -per cent per annum after--date hereof- -until paid. And to secure the payment of said amount- -I-hereby authorize, irrevocably, any attorney of any Court of Record to appear for —m⋅e- in such Court, in term time or vacation, if not paid at maturity, and confess a judgment without process, in favor of the holder of this Note, for such amount as may appear to be unpaid thereon, together with costs and ▬▬▬Ten▬▬▬▬dollars attorney's fees, and to waive and release all errors which may intervene in any such proceedings, and consent to immediate execution upon such judgment, hereby ratifying and confirming all that -my-said attorney may do by virtue hereof. Richard Roe. No. Due B. Bills of Exchange and Checks. (1) Bill of Exchange Defined. Case 395. Uniform Negotiable Instruments Law, Sec. 126, 129. "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 order or to bearer." "An inland bill of exchange is a bill which is, or on its face purports to be, both drawn and payable within this state. Any other bill is a foreign bill. Unless the contrary appears on the face of the bill the holder may treat it as an inland bill." Question 395: Define a bill of exchange; an inland bill; a foreign bill. -100 (2) Form of Bill of Exchange. Chicago, -Thirty days after date-Pay to the order of Hundred ($100)——Dollars. Value received and charge the same to account of -August 15,--1923 To-Richard Roe Manufacturing Company. No..... -John Smith. (3) Check Defined. Case 396. Uniform Negotiable Instruments Law, Sec. 185. "A check is a bill of exchange drawn on a bank payable on demand." TRADE ACCEPTANCE (4) Special types of bills of exchange and checks. on of Penty Five ($75). Chicago, Ill, Aug2719.2.3 i fommonwealth State Bank Dollars ($ 75ee The obligation of the ptor hereof, arisesout of the purchase of goodsfromthe drawer. The drawwe may accept this.bill payable at any bank finkertritrust, company in the United St States which he/may designate! Hmmpted at Chicago Aug 30 = 19.23 Ryable at Comrarnwealth State Bank Bank Location ature John Smith Bry Agentor Officel Henry Smith & Co. 3. Henry Smith (b) Cashier's check. The Commonwealth State Bank. No. Pay to Order of- Chicago, Ill.,Aug. 15—1923 John Doe-Ten- -Dollars. Cashier. C. Instruments not covered by negotiable instruments law. (Note: The negotiable instruments law covers only instruments payable in money. Other instruments may have a certain limited quality of negotiability, but are not within our present discussion. For transferable qualities of Bills of Lading and Warehouse Receipts see Sales. For transferability of Certificates of Stock see Subject "Corporations.") CHAPTER 50 History and Origin of Negotiable Paper. § § 406 and 407 (Nego. Instru. Sections 15 and 16). (Note: Foreign bills of exchange were introduced into England from the Continent at an early period, the time of which is uncertain. Inland bills and notes came into use in England about the middle of the 17th Century. The statute of 3rd and 4th Anne, c. 9, made promissory notes negotiable after a decision by Lord Holt which cast doubt upon their negotiability. The common law built up the general theory of negotiability of bills, notes and checks. The Uniform Negotiable Instruments Act, now in force in almost every American Jurisdiction, codified that law.) PART II THE FORMATION OF THE CONTRACT Chapter 51. Expression-Negotiable form (1) Formal requisites. Chapter 52. Same (2) Provisions which do not prevent Chapter 53. Chapter 54. Chapter 55. negotiability. Execution and delivery. The formation of the contract of the ac- Chapter 56. The formation of the contract of parties for accommodation or for honor. CHAPTER 51 EXPRESSION. NEGOTIABLE FORM (1) FORMAL REQUISITES § 408. In general. § 409. Writing and signature. § 410. Unconditional promise or order. § 411. Sum certain. § 412. Payment in money. § 413. Demand paper. § 414. Fixed or determinable future time. § 415. In general of words of negotiability. § 416. When payable to order. § 417. When payable to bearer. § 418. Drawee named or indicated. § 408. (Nego. Instru. Sec. 17.) In general. (Note: The instrument, to have the characteristic of negotiability must be in proper form. The intent of the parties to |