Discharge of party secondarily liable. Renunciation of rights. (b). Stocks and stockholders. Sec. 133. Sec. 134. Sec. 135. Sec. 136. Statutory provisions as to amount of stock. Bank's lien on unpaid stock. Liability of stockholder in case of insolvency. Sec. 137. Rights of stockholders. Sec. 149. Sec. 150. The bank's undertaking with the general depositor. The depositor's undertaking and duty. Suretyship from change of legal relations. Contribution. Various causes discharging surety. APPENDIX A. Uniform Negotiable Instruments Act. APPENDIX B. Forms. APPENDIX C. Questions and Problems. NEGOTIABLE PAPER. PART I. GENERAL NATURE AND HISTORY. CHAPTER 1. GENERAL DESCRIPTION OF NEGOTIABLE PAPER. Sec. 1. MEANING OF THE WORD "NEGOTIABLE." By the term "negotiable" as applied to obligations to pay money is denoted a quality by virtue of which the obligation so described is assignable at law by the payee (and his assignees), in some cases by mere delivery and in others by indorsement, to vest in each succeeding transferee not only the legal title thereto and the direct obligation to him of the original debtor without notice to such original debtor, but when acquired under certain circumstances, such title is unaffected by the equities or defenses, if any, of such debtor against his original promisee. A negotiable instrument is an evidence of a money indebtedness. Claims against debtors in any form are now in all jurisdictions assignable by the claimant. But such claims although assignable are not negotiable unless having certain "formal requisites" hereinafter described. The general character of an instrument assumed to be negotiable may be indicated by the following process of reasoning. In the first place, the fundamental idea of contract in |