The Law of Commercial Paper: Prepared in the Extension Division of the University of Wisconsin |
Contents
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The Law of Commercial Paper: Prepared in the Extension Division of the ... William Underhill Moore No preview available - 2015 |
Common terms and phrases
agent amount assignment authority bank bearer instrument bill of exchange bill or note bills and notes binding Carpenter Commercial Paper Common Law condition consideration contract courts debt defendant delivered delivery discharged dorsement drawer and indorsers due course enforce example face fact fraud given held holder in due innocent purchaser Inst instrument payable intended Law Merchant legal tender liable Lord Mansfield maker or acceptor maker or drawer ment Mercantile Law months after date Negotiable Instruments Law negotiable promissory note note payable notice of dishonor obligation paid pay money payable on demand payable to bearer payable to order payee place of business place of payment plaintiff presented for acceptance presentment for payment promise to pay protest reasonable recover rule Section signature signed signer sory special indorsement Statute strument subdivision sum certain thereof tiable tion transfer unconditional value received Walker word bearer words writing written
Popular passages
Page 257 - 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 a holder in due course.
Page 250 - Where the instrument contains or a person adds to his signature words indicating that he signs for or on behalf of a principal, or in a representative capacity, he is not liable on the instrument if he was duly authorized; but the mere addition of words describing him as an agent, or as filling a representative character, without disclosing his principal, does not exempt him from personal liability.
Page 206 - 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.
Page 256 - A holder in due course is a holder who has taken the instrument under the following conditions: — 1. 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.
Page 282 - 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 257 - 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 257 - A holder in due course holds the instrument free from any defect of title of prior parties, and free from defenses available to prior parties among themselves, and may enforce payment of the instrument for the full amount thereof against all parties liable thereon.
Page 271 - 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 257 - 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 nonnegotiable. But a holder who derives his title through a holder in due course...
Page 170 - 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.