Digest of the Mercantile Law of Canada and Newfoundland: Being a Practical Code of the Mercantile Law Both Common and Statute, Embodying the Variations Therein of All Ten Provinces, Together with Legal and Business Forms |
Common terms and phrases
acceptance acceptor action agent agreement Alberta amount assignment authority bank bill of lading binding breach British Columbia buyer chattel mortgage cheque claim condition contract court covenant creditors damages debt debtor deed default delivery discharge dishonour Dominion dower drawee drawer endorser entitled Falconbridge filed firm foreclosure fraud gift give given guarantee Halsbury held holder in due husband Ibid instrument interest land landlord lease liable lien lienholders Manitoba ment mortgagor negotiable negotiable instrument Newfoundland North West Territories notice Nova Scotia Ontario owner paid partner partnership party payable payee payment person possession Prince Edward Island principal promise provides Provinces purchaser Quebec realty recover registered rent Saskatchewan sell seller shareholders shares specific statute Statute of Frauds subsequent surety tenant testator testator's Theobald trustee unless valid vendor void wife Yukon
Popular passages
Page 11 - A valuable consideration, in the sense of the law, may consist either in some right, interest, profit, or benefit accruing to the one party, or some forbearance, detriment, loss or responsibility given, suffered, or undertaken by the other.
Page 110 - Where a bill is addressed to two or more drawees who are not partners, presentment must be made to them all, unless one has authority to accept or refuse acceptance for all, in which case presentment may be made to him only ; 2.
Page 86 - 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 96 - The title of a person who negotiates an instrument is defective within the meaning of this act when he obtained the instrument, or any signature thereto, by fraud, duress or force and fear or other unlawful means, or for an illegal consideration or when he negotiates it in breach of faith, or under such circumstances as amount to a fraud.
Page 120 - A bill of exchange is an unconditional order in writing, addressed by one person to another, signed by the person giving it, requiring the person to whom it is addressed to pay on demand, or at a fixed or determinable future time, a sum certain in money to, or to the order of a specified person, or to bearer.
Page 119 - The payment for honor supra protest in order to operate as such and not as a mere voluntary payment must be attested by a notarial act of honor which may be appended to the protest or form an extension to it.
Page 340 - Losses, including losses and deficiencies of capital, shall be paid first out of profits, next out of capital, and lastly, if necessary, by the partners individually in the proportion in which they were entitled to share profits.
Page 109 - Where the bill is drawn payable elsewhere than at the residence or place of business of the drawee. In no other case is presentment for acceptance necessary in order to render any party to the bill liable.
Page 116 - Where a dishonored bill has been accepted for honor supra protest or contains a reference in case of need, it must be protested for non-payment before it is presented for payment to the acceptor for honor or referee in case of need.
Page 85 - A bill is payable to order which is expressed to be so payable or which is expressed to be payable to a particular person, and does not contain words prohibiting transfer or indicating an intention that it should not be transferable.