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The Law of Negotiable Paper: Containing the Text of the Uniform ..., Volum 2
Alfred William Bays
Uten tilgangsbegrensning - 1911
acceptance for honor acceptor accommodated party agent amount assignment bank bill of exchange bill of lading blank indorsement certificate certificate of deposit CHAPTER Chicago commercial paper common law consideration contract corporation deemed defense delivery discharged dishonored by non-acceptance drawer and indorsers due course fixed or determinable foreign bill fraud funds given holder in due Illinois instrument is payable John Brown law merchant material alteration maturity ment negotiable character Negotiable Instruments Act Negotiable Instruments Law negotiable paper notary Notary Public notice of dishonor otherwise overdue paid party primarily liable party secondarily liable payable on demand payable to bearer payable to order payee place of payment presentment for acceptance Presentment for payment prior party promise or order promise to pay promissory note reasonable diligence secured signature signed special indorsement statute strument sum payable terest thereof thereto tiable transfer Uniform Negotiable Instruments unless usury waived
Side 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.
Side 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.
Side 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.
Side 165 - Partial; that is to say, an acceptance to pay part only of the amount for which the bill is drawn.
Side 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.
Side 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.
Side 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.
Side 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.
Side 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.
Side 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.