66 'Holder' means the payee or indorsee of a bill or note, who is in possession of it, or the bearer thereof. "Indorsement' means an indorsement completed by delivery. "Instrument' means negotiable instru ment. "Issue' means the first delivery of the instrument, complete in form, to a person who takes it as a holder. "Person' includes a body of persons, whether incorporated or not. "'Value' means valuable consideration. ""Written' includes printed, and 'writing' includes print." As to holder, see note to Section 49. § 191. Who Primarily or Secondarily Liable. "The persons 'primarily' liable on an instrument is the person who, by the terms of the instrument, is absolutely required to pay the same. All other parties are 'secondarily' liable." § 192. Reasonable Time.-"In determining what is a 'reasonable time' or an 'unreasonable time' regard is to be had to the nature of the instrument, the usage of trade or business (if any) with respect to such instruments, and the facts of the particular case." § 193. Sunday or Holiday.-"Where the day or the last day, for doing an act herein required or permitted to be done falls on Sunday or on a holiday, the act may be done on the next succeeding secular or business day." As to what are holidays see note to Section 85. § 194. What Instruments Affected by This Act. "The provisions of this Act do not apply to negotiable instruments made and delivered prior to the passage hereof." This Act was approved by the Governor on March 25, 1904. There was no emergency clause, and therefore became a law ninety days after the adjournment of the Legislature, or on June 13, 1904. Therefore, it could not affect a note executed on April 21, 1903. 141 Ky. 452, 132 S. W. 1037. Dotson v. Owsley, § 195. Inconsistent Laws Repealed."All laws inconsistent with this Act are hereby repealed." The Court of Appeals has held that this Act repealed Section 483 of the Kentucky Statutes. See note to Section 184. But it has also held that this Act has not repealed previous statutes which declared certain character of contracts void. See note to Section 57. Armstrong v. American Exchange Bank. Armstrong v. Nat. Bank of Boyertown.. 52 37 .184 .46, 57, 59 Bank of Commerce v. Haldeman. of Commerce v. McClure ... of Commonwealth v. Curry of Limestone v. Penick of Taylorsville v. Hardesty. of United States v. Leathers. Barbaroux v. Waters Barnett v. Ringgold.. ... Barrett v. Fort Nat. Bank. Battertons v. Porter. 14 .103 32 .96, 129, 184 .103 .119, 120 .14, 154 .153, 154 .3, 20 .14, 125 .120 .48, 109, 121 .109, 118 .75, 79, 114 .37, 88 35 .129, 184 Callahan v. First nat. Bank.. Callahan v. Louisville Dry Goods Co... Campbell v. Fourth Nat. Bank..... Campbell County Bank v. Schmidt. .3, 126 1 .14, 124, 125 32 103, 108 52 .25, 189 .56, 57 .119, 121 .35, 121 17 .184 .141 24 .89, 115 ..110 .127, 130 20 ..120 .62, 79 ...36, 42, 87 .66, 101, 119 .119 .35, 49, 51 59 .25, 52, 59 57 20 46 3 .16, 35 2 Chadwell v. Chadwell Chemical National Bank v. Wagner... Chenowith v. Chamberlin Childers v. Billiter Sections. 20 18 .14, 124, 125 .71, 186 1 56 .118, 129, 152, 154 .56, 58 .25, 51, 52, 56, 57 .18, 25 57 99 56 .48, 121 52 .79, 114 58 57 ..189 .36, 37 .189 65 35 .120 .124 1 59 .121 3 .119 59 56 25 .68, 121 60 .62, 185 .14, 25, 124, 125 Columbia F. & T. Co. v. First Nat. Bank... Commercial Nat. Bank v. First Nat. Bank. Cope v. Arberry Cope v. Daniel Corrydon Dep. Bank v. McClure.. Cotton v. Edwards Coyle v. Satterwhite Crossthwait v. Misener Crutcher v. Bank of Kentucky. Curle v. Beers Davenport v. Green River, etc.... David v. Merchants Nat. Bank. Davis v. Boone County Deposit Bank.. |
