Acts of the State of Ohio

Front Cover
N. Willis, printer to the state, 1902 - Session laws
 

What people are saying - Write a review

We haven't found any reviews in the usual places.

Other editions - View all

Common terms and phrases

Popular passages

Page 195 - A negotiable promissory note within the meaning of this, act 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 or determined future time, a sum certain- in money to order, or to bearer.
Page 187 - 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 196 - Holder" means the payee or indorsee of a bill or note, who is in possession of it, or the bearer thereof...
Page 170 - An unqualified order or promise to pay is unconditional within the meaning of this act, though coupled with — 1. An indication of a particular fund out of which reimbursement is to be made, or a particular account to be debited with the amount; or 2. A statement of the transaction which gives rise to the instrument. But an order or promise to pay out of a particular fund is not unconditional.
Page 172 - ... the delivery may be shown to have been conditional, or for a special purpose only, and not for the purpose of transferring the property in the instrument.
Page 169 - 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 191 - Presentment for acceptance is excused, and a bill may be treated as dishonored by nonacceptance, in either of the following cases: 1. Where the drawee is dead, or has absconded or is a fictitious person or a person not having capacity to contract by bill. 2. Where, after the exercise of reasonable diligence, presentment cannot be made. 3. Where, although presentment has been irregular, acceptance has been refused on some other ground.
Page 188 - The acceptance of a bill is the signification by the drawee of his assent to the order of the drawer. The acceptance must be in writing and signed by the drawee. It must not express that the drawee will perform his promise by any other means than the payment of money.
Page 171 - 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.
Page 180 - Presentment for payment, to be sufficient, must be made — 1. By the holder, or by some person authorized to receive payment on his behalf; 2. At a reasonable hour on a business day ; 3. At a proper place as herein defined ; 4. To the person primarily liable on the instrument, or if he is absent or inaccessible, to any person found at the place where the presentment is made.

Bibliographic information