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(The references are to pages.)

DETERMINABLE FUTURE TIME-Continued.
fixed period after date or sight is, 20.

on or before fixed time is, 20.

on or after event certain to happen is, 20.

DISCHARGE OF INSTRUMENT by payment on behalf of prin-
cipal debtor, 193.

where principal debtor becomes holder after maturity,
193.

by cancellation, 193.

by other act, 193.

by payment by party accommodated, 193, 194.

of one part of a bill drawn in a set, 174.

DISCHARGE OF PARTY SECONDARILY LIABLE by discharge

of instrument, 195, 196.

by cancellation of signature, 196.
by discharge of prior party, 196.

by tender by prior party, 196, 197.

by release of principal debtor, 196-198.

reservation of rights against surety, 196-198.

extension of time, when will discharge, 196, 198-201.

mere indulgence will not discharge, 198.

where holder allows statute of limitations to run against

principal debtor, 197.

extending time to plead will not discharge, 199.

accommodation maker not discharged by extension granted
indorser, 200, 201.

DISCOUNTING PAPER, when bank holder for value, 62, 97-99.
DISHONOR, when instrument dishonored by non-payment, 157.
DRAWEE must be named or indicated in instrument, 11.

not liable until acceptance, 213.

bill may be addressed to two or more, 213.

but not to two or more in the alternative, 213.

time allowed in which to accept, 221.

retaining or destroying bill is liable as acceptor, 221, 222.

DRAWER, instrument payable to order of, 45.

engagement of by drawing bill, 119.

admission of, 119.

liability of, 119.

may negative liability, 119.

existence of admitted by acceptor, 120.

when presentment not necessary to charge, 153.

INDEX.

(The references are to pages.)

DRAWER-Continued.

right of recourse to, 157.

notice of dishonor must be given to, 166.

271

when notice of dishonor need not be given to, 185.
when released by failure to present bill for acceptance,

227.

liability of where bill dishonored by non-acceptance, 230.
when protest necessary in order to charge, 231.

of check discharged if holder has check certified, 252, 253.
DRUNKENNESS, as a defense, 111.

DUE DILIGENCE, when question of law, 154, 155, 189.
when question of fact, 154.

what will constitute, 155, 187-189, 248-251.

DURESS, instrument or signature obtained by, 101.

ELECTION, right of, 23, 26.

ESTATE, instrument payable to, 33.

EXCHANGE, provision for, 14.

EXECUTORS, indorsement by, 132.

EXEMPTIONS, waiver of 26,

EXHIBITION OF INSTRUMENT, when necessary, 103, 112.
when excused, 149.

payment without, 163, 164.

EXTENSION, stipulation for, 21.

FEDERAL COURT, how far bound by statute, 15.

FICTITIOUS PAYEE, when drawer estopped to allege that payee
is, 119.

FICTITIOUS PERSON, when instrument payable to order of is
payable to bearer, 31, 32, 33.

whether instrument payable to order of estate is, 33, 34.
paper issued to one fraudulently impersonating another,
56-57.

when maker estopped to allege that payee is, 119.

presentment for payment not required where drawee is
fictitious person, 155.

FIGURES, where there is a discrepancy between words and
figures, 46.

effect of, 46, 47.

FISCAL OFFICER, instrument payable to, 84, 85.

FOREIGN LANGUAGE, instrument may be written in, 35.

(The references are to pages.)

FOREIGN BILL, what is, 214.

FORGED SIGNATURE confers no right, 56.

when party estopped to allege forgery, 57, 58.

on travelers checks, 58.

FRAUD, instrument or signature obtained by, 101, 102, 117.
where fraud is subsequent to liability, 117.

GAMBLING DEBT, note given for, 108, 109.

GENUINENESS, warranty of where negotiations by delivery, 127.
warranty of where negotiation by qualified indorsement,
127.

when warranty of not implied, 128.
warranty of by general indorser, 129.

acceptor admits signature of drawer, 120, 121.

acceptance does not admit signature of indorser, 121.
nor handwriting in body of instrument, 121.

GOLD COIN, note payable in, 28.

GOODS AND MERCHANDISE, instruments payable in, 12.
GUARANTOR, when person becomes such, 122.

when proceedings against principal are necessary, 167.
not entitled to notice of dishonor, 167.
GUARANTY, conditional guaranty, 158.

HOLDER, meaning of term, 6.

may sue in his own name, 93.
may receive payment, 93, 94.

may sue any party, 113, 133.

rights of where bill dishonored by non-acceptance, 230.
duty of where bill not accepted, 230.

refusal to receive payment for honor, 241.

by having check certified discharges drawer and indorsers,
252, 253.

of checks cannot recover of bank on check until it ac-

cepts or certifies the same, 253, 254.

HOLDER FOR VALUE, what constitutes, 60-63.

person having lien is, 63-65.

when bank discounting note is, 97-99.

HOLDER IN DUE COURSE, what constitutes, 94-99.
who is not, 94-99.

incomplete or irregular instrument, 95.
post-dated instrument, 95.

(The references are to pages.)

HOLDER IN DUE COURSE-Continued.

payee as, 96.

overdue paper, 96.

where interest is overdue, 97.
where instalment overdue, 97.

when paper deemed overdue, 97.

in case of instrument payable on demand, 100.

where full amount has not been paid before notice, 100,
101.

what constitutes notice of equities, 102-107.

holds instrument free from equities, 107-113.

may recover full face value, 107-112.

where paper made in violation of statute, 108-111.

drunkness as a defense, 111.

rights of person claiming under holder in due course,
113, 114.

when burden on holder to prove that he took instrument

in due course, 115-117.

holder may testify that he acted in good faith, 117.
HOLDER OF OFFICE, instrument payable to order of, 31.
HOLIDAY, when day for doing act falls on, 8.
instrument falling due on, 158-160.

ILLEGAL STIPULATIONS, not validated, 23.
INCOMPLETE INSTRUMENT, filling blanks, 36-42.
not delivered, 42.

where instrument is stolen, 42.

agreement that others shall sign, 43.

acceptance of, 223.

INDORSER, where character not clear signer is presumed to be

an indorser, 47-49, 50.

usury not a defense to, 111.

deposit of collateral securities by, 119.

when person deemed such, 122.

may not be shown to be maker, 123.

parol evidence to vary liability of, 123-133.

irregular indorser, 124-127.

partner indorsing firm note, 126, 132.

admits capacity of prior party, 129.

liability of general indorser, 129-133.

liability where paper indorsed restrictively, 130.

(The references are to pages.)

INDORSER-Continued.

to whom warranty runs, 130.

warranty as to genuineness, 131.
of validity, 131.

as to title, 131.

holders knowledge of infirmity, 132.

where note stipulates for attorneys fees, 132.

has no right to require suit against maker, 133.
liability of where paper negotiable by delivery, 133.

order in which indorsers liable, 134-136.

presentment necessary in order to charge, 139, 248, 249.
when presentment for payment not necessary to charge,
153.

right of recourse to, 157, 158.

not a mere surety after dishonor, 157, 158.

liability where collaterals have been received, 158.

holder not required to proceed on collaterals in order to

charge indorsers, 158.

notice of dishonor must be given to, 166.

when notice of dishonor need not be given to, 190.

what will discharge, 142-145, 195-201.

payment by does not discharge maker, 194.

possession of paper is evidence of payment, 202.

payment by second indorser, 202.

where released by failure to present bill for acceptance,

227.

liability of where bill dishonored by non-acceptance, 230.
in what case protest necessary in order to charge, 231.
liability of where he indorses different parts of a set,
242, 243.

of check discharged by delay to present, 248, 249.

INDORSEMENT, meaning of term, 6.

of instrument payable in the alternative, 30.

instrument indorsed in blank payable to bearer, 31.
instrument payable to order of drawer, 45.

by infant, 55.

by corporation, 55.

where written, 75.

required for negotiation of instrument payable to order,

75, 76.

must be completed by delivery, 74.

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