McMaster's Commercial Decisions Affecting the Banker and Merchant [from the Decisions of the Highest Courts of the Several States], [1879-1913], Vol. 1-12, 15, 16, Volume 10 |
Common terms and phrases
accepted action affirmed agent agreement alleged amount appellant appellee assignment authority bill of exchange bill of lading Bills and Notes cause of action certificate of deposit certification charge Circuit Court claim commercial paper complaint consideration consignee contract corporation creditors debt Decision defendant defendant in error delivered delivery demurrer deposit discounted dishonor draft drawee Dresser evidence executed fact favor firm fraud funds given held holder indorser interest issue judgment jury law merchant liability loan lumber maker maturity ment mortgage National Bank Negotiable Instruments notice paid paper parties partnership payable payee payment person plaintiff in error presented principal promise to pay promissory note purchase question railroad company reason recover referee rule signature signed statute stockholders suit Supreme Court surety thereof tion transaction transfer trial court trust company usury verdict void
Popular passages
Page 144 - The shareholders of each association formed under the provisions of this act, and of each existing bank or banking association that may accept the provisions of this act, shall be held individually responsible, equally and ratably, and not one for another, for all contracts, debts, and engagements of such association to the extent of the amount of their stock therein at the par value thereof, in addition to the amount invested in such shares...
Page 193 - Every holder is deemed prima facie to be a holder in due course; but when it is shown that the title of any person who has negotiated the instrument was defective, the burden is on the holder to prove that he or some person under whom he claims acquired the title as a holder in due course.
Page 28 - That it is complete and regular upon its face. (2) That he became the holder of it before it was overdue, and without notice that it had been previously dishonored, if such was the fact. (3) That he took it in good faith and for value. (4) That at the time it was negotiated to him he had no notice of any infirmity in the instrument or defect in the title of the person negotiating it.
Page 103 - Where the instrument contains or a person adds to his signature words indicating that he signs for or on behalf of a principal, or in a representative capacity, he is not liable on the instrument if he was duly authorized; but the mere addition of words describing him as an agent, or as filling a representative character, without disclosing his principal, does not exempt him from personal liability.
Page 191 - As between immediate parties, and as regards a remote party other than a holder in due course, the delivery, in order to be effectual, must be made either by or under the authority of the party making, drawing, accepting or indorsing, as the case may be; and in such case the delivery may be shown to have been conditional, or for a special purpose only, and not for the purpose of transferring the property in the instrument.
Page 214 - An instrument to be negotiable must conform to the following requirements: 1. It must be in writing and signed by the maker or drawer; 2. Must contain an unconditional promise or order to pay a sum certain in money; 3.
Page 266 - ... the same may be asserted, enforced, prosecuted or inflicted, as fully and to the same extent as if such...
Page 191 - Constitutes a Holder in Due Course. A holder in due course is a holder who has taken the instrument under the following conditions: 1. That it is complete and regular upon its face; 2. That he became the holder of it before it was overdue, and without notice that it had been previously dishonored, if such was the fact; 3. That he took it in good faith and for value; 4. That at the time it was negotiated to him he had no notice of any infirmity in the instrument or defect in the title of the person...
Page 27 - Where a negotiable instrument is materially altered without the assent of all parties liable thereon, it is avoided, except as against a party who has himself made, authorized, or assented to the alteration, and subsequent indorsers. But when an instrument has been materially altered and is in the hands of a holder in due course, not a party to the alteration, he may enforce payment thereof according to its original tenor.
Page 242 - A check must be presented for payment within a reasonable time after its issue or the drawer will be discharged from liability thereon to the extent of the loss caused by the delay.