COPYRIGHT, 1910

BY

LA SALLE EXTENSION UNIVERSITY

NOV 4 1912

CONTENTS

NEGOTIABLE INSTRUMENTS.

CHAPTER I.

Negotiability.

§ 1. Genesis of law of bills and notes in mercantile usage..... 1

§ 2. Decisions of courts adopt mercantile usage into common

§ 3.

law

Bills and notes are transferable obligations.....

§ 4. Practical consequences of bills and notes being trans-

ferable

5. Same:

§ 6.

....

Illustrations..

How bills and notes may be transferred....

§ 7. Summary: Bills and notes are negotiable..

CHAPTER II.

Formal Requisites of Negotiable Instruments.

§ 8. In general...

§ 8a. Ordinary forms of negotiable instruments.

§ 9. Materials for writing. Signature.

2 2

§ 10. Note must contain a promise...

14.

Promise or order to pay out of particular fund is condi-

tional

17

§ 15. Same (continued)..

18

§ 16. Statement of consideration does not make instrument con-

ditional

19

.....

§ 17. Promise or order must be certain in amount payable at

§ 19. Instruments payable with exchange...

$20. Instruments payable in installments

21. Promise or order must be certain as to the time of payment. 23

§ 22. Instruments payable on demand...

§ 25.

Particular kind of money...

§ 26.

Bill or note must order or promise payment of money only. 29

27.

Certainty of parties: Requisite parties..

31

§ 38. Negotiable instrument must be payable to order or bearer.. 44

§ 47.

Carelessness a question of fact......

§ 48. Intentional signing induced by fraud..

49

49

§ 54. Innocent purchaser of instrument completed in excess of

authority

...

... 57

58

§ 55. Incomplete instruments not intentionally delivered as such. 57

§ 56. Presumption of delivery...

SECTION 2.

Consideration.

What a consideration is......

§ 58. Consideration necessary for negotiable instrument.

§ 57.

§ 64. Drawee not bound unless he accepts...

65. Form of acceptance. Oral acceptance...

§ 66. Acceptance written on the bill.....

867. Extrinsic written acceptance......

§ 68. Virtual acceptance....

§ 69. Constructive acceptance.

70. Kinds of acceptance..

§ 71. Qualified acceptance...

§ 72. Conditional acceptance...

§ 73. Partial acceptance...

888588J

76. Acceptance by less than all of drawees...

877. Acceptance by person not drawee....

§ 78. Holder may require an unqualified acceptance written on

§ 74. Local acceptance...

§ 75. Acceptance qualified as to time..

CHAPTER IV.

Negotiation.

....

§ 80. Transfer generally..

§ 81. Who may negotiate..

§ 82. Transfer by delivery..

883. Form of indorsement....

§ 84. Indorsement must be in writing on the instrument..

§ 85. Indorsement must be an order to pay..................

.... 79

§ 86. Indorsement must be an order to pay the whole sum due

on instrument.....

80

§ 87. Indorsement is not binding unless instrument is delivered. 80

§ 88. Kinds of indorsement...

§ 89. Special indorsements.

....

81

§ 90. Blank indorsements

§ 91.

81

Blank indorsement followed by special indorsement....... 82

§ 92. Special indorsement of instrument payable to bearer..... 83

§ 93. Restrictive indorsement.....

§ 94. Indorsement prohibiting further negotiation...

84

.84

§ 95. Indorsement constituting indorsee agent or trustee of in-

dorser ...

85

§101. Holder in due course must have acquired an existing in-

strument

94

$102. Same: Illegality and other defects.....

$103. Same: Reasons stated......

95

... 96

§104. Defences not available against holder in due course...... 98

§105. Existing instrument must be acquired by holder in due

course

. 99

§106. Purchase of instrument must be in good faith and with-

out notice of defences....

99

§110. Purchase from partner, agent, or trustee...

..103

§111. Transferee must part with value in exchange for the in-

§116. Notice to purchaser before he has parted with value......110

$117. Purchaser with notice from holder in due course.

..112

$118. Same: Participant in prior wrongdoing....

..112