ON THE LAW OF

COMMERCIAL PAPER

CONTAINING

A full statement of existing American and Foreign Statutes,
together with the text of the Commercial Codes of

Great Britain, France, Germany, and Spain

By JOSEPH F. RANDOLPH
Editor of Jarman On Wills and Williams ON EXECUTORS

SECOND EDITION

IN THREE VOLUMES, WITH APPENDIX

VOL. III.

ST. PAUL, MINN.
WEST PUBLISHING CO.

LIBRARY OF THE
LELAND STANFORD JR. UNIVERSITY.

A42767
Entered, according to the Act of Congress, in the year 1888, by

JOSEPH F. RANDOLPH,
In the Office of the Librarian of Congress, at Washington.

Entered, according to the Act of Congress, in the year 1899. by

JOSEPH F. RANDOLPH,
In the Office of the Librarian of Congress, at Washington.

TABLE OF CONTENTS.

Volume 3.

CHAPTER XXXIX.

1. What is PAYMENT.

IL BY WHOM MADE.

s 1392. Payment-General Principles.

1405. Virginia Coupons.

1407. Payment in Tokens-Merchaudise.

1409. Part Payment.

1411. Part Payment by Joint Maker-Indorser-Drawer.

1413. Foreign Statutes as to Part Payment.

1414. Receipt for Payment.

1415. Surrender of Instrument-On Payment.

1416. Lost Instruments.

1417. Nonnegotiable Instruments--Surrender by Mistake-Fraud.

1418. Surrender on Payment before Maturity.

1419. Statutes Requiring Surrender.

PAYMENT.

I. WHAT IS PAYMENT.

application of Bank Deposits.

By Credit to Holder.

To Agent–Partner.

In Securities-Collateral.

By Legacy to Creditor-Debtor Appointed Executor.

In Money-Currency.

"Dollars"-Confederate Currency.

Designated Currency.

United States Legal Tender.

Bank Bills.

Insolvent Banks-Counterfeit Bills.

As a Set-Off.

"Coupon Killers."

In Work.

on Part Payment.

By Acceptor-Maker.

1393

1394.

1395.

1396.

1397.

1398.

1399.

1400.

1401.

1402.

1403

1404,

1406.

1408.

1410. Discharge

1412.

1.3 RAND.C.P.

(iii)

II. PAYMENT_By Whom MADE,

§ 1420. Payment by Acceptor.

1421. By Accommodation Acceptor.

1422. Reissue by Acceptor.

1423. Payment or Purchase-Question of Intention.

1424. Discount by Drawee.

1425. Payment by Jaker.

1426. By Joint Maker.

1427. By Drawer.

1429. By Indorser,

1431. Action by Indorser.

1432. Payment by Indorser after Judgment.

1433. Acceptor Liable to Indorser.

1434. Reissue by Indorser.

1435. Payment by Principal-Surety.

1437. Supra Protest.

1438. By Stranger.

1441. Place of Payment-As Agent.

1442. Funds Provided and Lost.

CHAPTER XL.

PAYMENT.

1. To Whom MADE.

II. WHEN MADE AND How PROVED.

III. RECOVERY OF PAYMENT.

IV. APPROPRIATION OF PAYMENT.

I. PAYMENT—To Whom MADE.

$ 1444. Payment To Rightful Holder.

1445. To Designated Payee.

1416. To Joint Payees.

1447. To Persons under Disability.

148. To Executor.

1449. To Trustee.

1450. To Agent.

1451. Implied Agency.

1452. Ratification and Revocation of Agency.