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The Law of Negotiable Paper: Containing the Text of the Uniform Negotiable ...
Alfred William Bays
Visualització completa - 1911
acceptor accommodation according agent alteration amount assignment authority bank bearer become bill of exchange bind blank capacity CHAPTER charge Chicago circumstances complete condition consideration contain contract corporation debt debtor deemed defense delivered delivery determinable discharged drawer drawn due course effect excused express face fact faith fixed Forfeiture funds give given hands holder in due honor hour Illinois indorsement instru instrument is payable interest issued maker maturity means ment necessary negotiable instrument negotiable paper non-acceptance notice notice of dishonor otherwise paid particular party party secondarily liable payable payee person presentment for acceptance Presentment for payment principal promise promissory note protest purchaser qualified reasonable received reference refused rules secured signature signed specified subsequent sufficient terest thereof transfer Uniform Negotiable Instruments unless waived writing
Pàgina 145 - An accommodation party is one who has signed the instrument as maker, drawer, acceptor or indorser, without receiving value therefor, and for the purpose of lending his name to some other person. Such a person is liable on the instrument to a holder for value, notwithstanding such holder at the time of taking the instrument knew him to be only an accommodation party.
Pàgina 144 - When a signature is forged or made without the authority of the person whose signature it purports to be, it is wholly inoperative, and no right to retain the instrument, or to give a discharge therefor, or to enforce payment thereof against any party thereto, can be acquired through or under such signature, unless the party, against whom it is sought to enforce such right, is precluded from setting up the forgery or want of authority.
Pàgina 150 - Every holder is deemed prima facie to be a holder in due course ; but when it is shown that the title of any person who has negotiated the instrument was defective, the burden is on the holder to prove that he or some person under whom he claims acquired the title as holder in due course.
Pàgina 165 - Partial; that is to say, an acceptance to pay part only of the amount for which the bill is drawn.
Pàgina 139 - But nothing in this section shall alter or repeal any statute requiring in certain cases the nature of the consideration to be stated in the instrument.
Pàgina 168 - A bill must be protested at the place where it is dishonored, except that when a bill drawn payable at the place of business, or residence of some person other than the drawee, has been dishonored by non-acceptance, it must be protested for non-payment at the place where it is expressed to be payable, and no further presentment for payment to, or demand on, the drawee is necessary.
Pàgina 141 - When it is payable to the order of a fictitious or nonexisting person, and such fact was known to the person making it so payable; or 4. When the name of the payee does not purport to be the name of any person; or 5. When the only or last indorsement is an indorsement in blank.
Pàgina 161 - By a valid tender of payment made by a prior party; 5. By a release of the principal debtor, unless the holder's right of recourse against the party secondarily liable is expressly reserved; 6. By any agreement binding upon the holder to extend the time of payment, or to postpone the holder's right to enforce the instrument unless made with the assent of the party secondarily liable, or unless the right of recourse against such party is expressly reserved.
Pàgina 142 - 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.
Pàgina 152 - As respects one another, indorsers are liable prima facie in the order in which they indorse; but evidence is admissible to show that as between or among themselves they have agreed otherwise. Joint payees or joint indorsees who indorse are deemed to indorse jointly and severally.