10 "Bill" means bill of exchange, and "note" means negotiable 11 promissory note. 12 "Delivery" means transfer of possession, actual or constructive, 13 from one person to another. 14 "Holder" means the payee or indorsee of a bill or note, who is 15 in possession of it, or the bearer thereof. 16 17 18 66 Indorsement" means an indorsement completed by delivery. "Instrument" means negotiable instrument. "Issue" means the first delivery of the instrument, complete in 19 form to a person who takes it as a holder. 20 21 22 23 1 "Person" includes a body of persons, whether incorporated or not. "Value" means valuable consideration. "Written" includes printed, and "writing" includes print. SECTION 208. The person bility. The person" primarily" liable on an instrument Primary lia. 2 is the person who by the terms of the instrument is absolutely re- 1898, 538, § 192. 3 quired to pay the same. All other parties are "secondarily " liable. 1 time defined. SECTION 209. In determining what is a "reasonable time" or Reasonable 2 an "unreasonable time" regard is to be had to the nature of the 1898, 533, § 193. 3 instrument, the usage of trade or business, if any, with respect to 4 such instruments, and the facts of the particular case. 1 SECTION 210. falling due on Sunday, etc. Where the day, or the last day, for doing any act Instruments 2 herein required or permitted to be done falls on Sunday or on a 3 holiday, the act may be done on the next succeeding secular or 4 business day. 1 1898, 533, § 194. tion to certain SECTION 211. The provisions of sections eighteen to two hun- Non-applica. 2 dred and ten, inclusive, and the following section do not apply to instruments. 3 negotiable instruments made and delivered prior to the first day of 1898, 583, § 195. 4 January in the year eighteen hundred and ninety-nine. 1 merchant to SECTION 212. In any case not provided for in sections eighteen Rules of law 2 to two hundred and eleven, inclusive, the rules of the law merchant govern, when. 3 shall govern. NOTE. Sects. 14, 15. As St. 1898, c. 533, applies to negotiable instruments only, it has left certain sections of Pub. Sts. c. 77, in force as to non-negotiable instruments. The distinction created by St. 1898, c. 533, § 136, between the time allowed for the acceptance of negotiable and non-negotiable bills of exchange, until two o'clock of the day following that of presentment being allowed by Pub. Sts., c. 77, § 17, instead of twenty-four hours, has been abolished by section 14, which makes the provisions of St. 1898, c. 533, § 136, applicable to non-negotiable bills. But Pub. Sts. c. 77, § 15, has been preserved. If the distinction is undesirable the section may be omitted and section 14 of this chapter may be extended to include the provisions of St. 1898, c. 533, § 63. Sects. 18 et seq. The commissioners have not felt authorized to make any changes in form or substance of St. 1898, c. 533 as the uniformity thereof with laws of other states might thereby be impaired. 1898, 533, § 196. TITLE XIII. New promise by insolvent CHAPTER 74. OF THE PREVENTION OF FRAUDS AND PERJURIES. SECTION 1. No action shall be brought : 1 First, To charge an executor or administrator, or an assignee 2 under an insolvent law of this commonwealth, upon a special promise 3 to answer damages out of his own estate; 4 Second, To charge a person upon a special promise to answer for 5 the debt, default or misdoings of another; 6 Third, Upon an agreement made upon consideration of marriage; 7 Fourth, Upon a contract for the sale of lands, tenements or 8 hereditaments or of any interest in or concerning them; or, 9 Fifth, Upon an agreement that is not to be performed within one 10 year from the making thereof; — 11 Allen, 123. Unless the promise, contract or agreement upon which such ac-12 tion is brought, or some memorandum or note thereof, is in writing 13 and signed by the party to be charged therewith or by some per-14 son thereunto by him lawfully authorized. 117 Mass. 96. SECTION 2. The consideration of such promise, contract or 1 agreement need not be set forth or expressed in the writing signed 2 by the party to be charged therewith, but may be proved by any 3 legal evidence. SECTION 3. No promise for the payment of a debt, made by an 1 debtor to be in insolvent debtor who has obtained his discharge from such debt 2 writing. 1856, 18. G. S. 105, § 3. P. S. 78, § 3. 7 Cush. 462. 8 Gray, 230. 130 Mass. 14. 136 Mass. 102. 139 Mass. 12, 297, 345. 141 Mass. 16. Representa tion as to another's credit to be in writing. under proceedings in bankruptcy or insolvency, shall be evidence 3 of a new or continuing contract whereby to deprive the debtor of 4 the benefit of relying upon such discharge in bar of the recovery of 5 a judgment upon such debt, unless such promise is made by or con- 6 tained in some writing signed by him, or by some person thereunto 7 by him lawfully authorized. SECTION 4. No action shall be brought to charge a person upon 1 or by reason of a representation or assurance made concerning the 2 character, conduct, credit, ability, trade or dealings of any other 3 4 person, unless such representation or assurance is made in writing 1834, 182, § 5. 5 and signed by the party to be charged thereby, or by some person G. S. 103, § 4. 6 thereunto by him lawfully authorized. R. S. 74, § 3. P. S. 78, § 4. 6 Met. 246. 4 Gray, 157. 1 13 Gray, 285. sale of goods to 29 Car. II., c. 3, 1692-3, 15, § 7. SECTION 5. No contract for the sale of goods, wares or merchan- Contract for 2 dise, for the price of fifty dollars or more, shall be good or valid, be in writing. 3 unless the purchaser accepts and receives part of the goods so sold, $17. 4 or gives something in earnest to bind the bargain, or in part pay- 1788, 16, § 2. 5 ment; or unless some note or memorandum in writing of the bar- B. S. 74, $4. 6 gain is made and signed by the party to be charged thereby, or by P. 7 some person thereunto by him lawfully authorized. 1 134 Mass. 127. Acceptance 13 Allen, 299, 353. 11 Gray, 235. Earnest money. G. S. 105, § 5. S. 78, $5. Cush. 510. 129 Mass. 185. Memorandum. 16 Gray, 436. 9 Allen, 412, 419, 474. 132 Mass. 129. Agreement to etc., to be in 1888, 372. make a will, writing. 145 Mass. 69. SECTION 6. No agreement to make a will of real or personal 2 property or to give a legacy or make a devise shall be binding unless 3 such agreement is in writing signed by the person whose executor 4 or administrator is sought to be charged, or by some person by him 154 Mass. 457. 5 duly authorized. The provisions of this section shall not apply to 163 Mass. 327. 6 any agreement made prior to the seventeenth day of May in the year eighteen hundred and eighty-eight. 7 1 when. 1836, 279. G. 105, $6. 12 Met. 428. Allen, 238. P. S. 78, § 6. 7 Gray, 160. SECTION 7. Every contract, written or oral, for the sale or trans- Contracts for sale of stocks, 2 fer of a certificate or other evidence of debt due from the United etc., void 3 States or from an individual state, or of stock or a share or interest 4 in the stock of a bank, company, city or village, incorporated under 5 a law of the United States or of an individual state, shall be void, 6 unless the party contracting to sell or transfer the same is, at the 7 time of making the contract, the owner or assignee thereof, or author8 ized by the owner or assignee or his agent to sell or transfer the 9 certificate or other evidence of debt, share or interest so contracted 10 for. 10 Allen, 245, 337. 103 Mass. 313. 135 Mass. 433. 149 Mass. 174. 141 Mass. 225. 151 Mass. 564. |