American Law and Procedure, Volume 7

James Parker Hall, James De Witt Andrews

La Salle Extension University, 1910 - Law

Contents

• NEGOTIABLE INSTRUMENTI: 1
• SECTION: 2
• Consideration: 4
• Bills and notes are negotiable: 8
• Bill of exchange must contain an order: 14
• Promise or order must be certain in amount payable: 21
• Creditor not bound to press his claim against principal: 24
• Promise or order must be to pay money: 27
• Current funds: 28
• Particular kind of money: 29
• Requisite parties: 31
• Same continued: 32
• Maker or drawer: 33
• Signatures of agents: 34
• Same continued: 36
• Payee: 37
• Fictitious payees: 38
• Alternative payees: 40
• Drawee: 41
• Same continued: 42
• Negotiable instrument must be payable to order or bearer: 44
• Bearer instruments: 45
• Payee not a person: 46
• Value received: 48
• CHAPTER III: 49
• Carelessness a question of fact: 50
• Intentional signing induced by fraud: 51
• Position of fraudulent payee or bearer: 52
• Position of innocent purchaser of the instrument: 54
• Incomplete instruments: 55
• Innocent purchaser of instrument completed in excess of authority: 57
• What a consideration is: 59
• Preexisting debt as consideration: 60
• Same continued: 61
• 61 Examples of consideration: 63
• Presumption of consideration: 64
• Form of acceptance Oral acceptance: 65
• Extrinsic written acceptance: 66
• Virtual acceptance: 67
• Presumption of delivery: 68
• Kinds of acceptance: 69
• Conditional acceptance: 70
• Acceptance qualified as to time: 71
• Acceptance by person not drawee: 72
• CHAPTER IV: 74
• Transfer by delivery: 75
• Form of indorsement: 77
• Indorsement must be an order to pay: 78
• Indorsement must be an order to pay the whole sum due on instrument: 79
• Indorsement is not binding unless instrument is delivered: 80
• Special indorsements: 81
• Blank indorsement followed by special indorsement: 82
• Special indorsement of instrument payable to bearer: 83
• Restrictive indorsement: 84
• Indorsement constituting indorsee agent or trusteo of in dorser: 85
• Indorsement in trust for third person: 87
• Qualified indorsement: 89
• Delivery without indorsement: 90
• Against whom and amount of: 91
• CHAPTER V: 93
• 101 Holder in due course must have acquired an existing in strument: 94
• Illegality and other defects: 95
• Reasons stated: 96
• 104 Defences not available against holder in due course: 98
• 105 Existing instrument must be acquired by holder in due course: 99
• 107 Actual notice: 100
• 108 Constructive notice: 101
• 109 Purchase after maturity: 102
• 110 Purchase from partner agent or trustee: 103
• şiil Transferee must part with value in exchange for the in strument: 105
• 112 What constitutes value: 106
• 114 Amount of value necessary: 107
• Judicial explanation: 108
• 116 Notice to purchaser before he has parted with value: 110
• 117 Purchaser with notice from holder in due course: 112
• Contracts of Parties to Instruments: 115
• Indorsement before inception: 121
• 136 Warranties of transferor: 129
• 144 What is a reasonable time for presentment: 135
• When delay in making presentment is excused: 136
• 152 Presentment is demand of payment accompanied by exhibi: 142
• 161 Notice by agent: 148
• 168 Necessity for protest: 155
• CHAPTER IX: 160
• 177 Payment must be at or after maturity: 161
• Illustrations: 162
• 180 Cancellation and alteration: 163
• 181 Discharge of indorsers: 164
• GUARANTY AND SURETYSHIP CHAPTER I: 165
• Capacity of parties: 166
• Guaranty a collateral undertaking: 167
• Statute of frauds: 168
• Contract of guaranty must be in writing: 169
• When is a debt within the statute of frauds: 170
• Necessity of principal debtor and promise to creditor: 171
• Strict suretyship: 172
• Common forms of suretyship: 173
• Consideration: 174
• Delivery of contract of suretyship: 175
• Alteration of instrument: 177
• Negotiable notes: 178
• Estoppel of surety signing instrument: 179
• Effect of judgment on surety: 180
• CHAPTER II: 181
• Payment of debt discharges surety: 182
• Fraud and duress by creditor in securing contract: 183
• debtor: 184
• Effect of acts of creditor due to fraud or judicial error: 185
• Discharge of surety by affirmative act of creditor: 186
• Extending time of payment: 187
• When surety relation is created by agreement among obligors: 188
• Creditor taking forged or illegal note: 189
• Principals setoff or counter claim against creditor as a defence to surety: 190
• Surrender of securities by creditor: 191
• Reasonable conduct of creditor: 192
• Taking property by attachment and execution: 193
• Tender of payment by principal debtor discharges surety: 194
• Failure of creditor to apply money in his control to debt: 195
• Notice to guarantor of default of principal: 196
• Notice to guarantor of acceptance of guaranty: 197
• Alteration of principals contract: 198
• By agreement between creditor and principal: 199
• Nonclosure of facts creditor should reveal to surety: 200
• Creditor not bound to discover facts: 201
• Information requested by surety: 202
• Negligence in not discovering dishonesty Collateral mis conduct: 203
• Same continued: 205
• Dealings or relations between creditor and cosurety: 206
• Release of cosurety with reservation of rights against the others: 207
• Effect of discharge of cosurety in bankruptcy: 208
• Assurance or promise of creditor that he will look to principal only: 209
• Creditor informing surety that debt is paid: 210
• Death of surety: 211
• Joint obligations: 212
• Subrogation 58 Subrogation of surety to creditors rights: 214
• Securities to which surety is entitled: 215
• When surety can enforce securities: 216
• When stranger pays debt: 217
• When subrogation may be allowed before debt fully paid: 218
• What amounts to payment of debt: 219
• Surety a creditor of principal debtor: 220
• Exemptions of principal: 221
• Payment of specialty debt by surety: 222
• Against principal: 223
• Against other persons: 225
• Debt barred against principal: 226
• Two sets of sureties: 227
• Cosureties: 228
• SECTION 2: 229
• Payment by surety before maturity: 230
• Part payment by surety: 231
• Surety to one of two or more partners: 232
• Debt satisfied from suretys property: 233
• When suretys right of action is complete: 234
• Principal liable for suretys costs and interest: 235
• When principal is not liable: 236
• Waiver of statute of limitations by principal: 237
• Payment of judgment by surety: 238
• SECTION 3: 239
• Enforcement at law: 241
• Statute of limitations: 247
• INSURANCE: 255
• Insurable Interest 9 In general: 260
• Fire insurance: 261
• Same continued: 262
• Legal obligation between parties: 263
• Relation of blood or marriage: 264
• SECTION 4: 265
• Assignment to mortgagee: 266
• Consent of insurer to assignment: 267
• Beneficiaries: 268
• Beneficiaries: 269
• Controverted case: 270
• CHAPTER II: 271
• Fire and life insurance in general: 272
• Qualification of ordinary rule: 273
• Existence of peculiar facts: 274
• Answers of insured must be substantially true: 275
• Good faith not enough: 276
• Incomplete answers: 277
• Statements of opinion: 278
• Materiality of representations: 279
• SECTION 2: 280
• Express language of policy: 281
• SECTION 3: 282
• Conflicting language: 283
• Incorporation must be by reference in policy: 285
• First class of cases: 286
• Third class of cases: 287
• Illustrations of language held a warranty: 288
• Illustrations of language held not a warranty: 289
• SECTION 4: 290
• General purpose of questions regarding health: 292
• Good faith insufficient if answer false: 293
• Specific questions: 294
• Promissory warranties: 295
• Implied limitations on warranty: 296
• Ambiguous language: 297
• CHAPTER III: 299
• Extent of warranty: 300
• Warranty of nondeviation: 301
• Warranty against illegality: 302
• Meaning of shall be void: 303
• Other insurance: 304
• Increase of hazard 305 1: 305
• Increase of risk by tenants: 306
• Interest of insured: 307
• Change of interest title or possession: 308
• Change of title: 309
• Change of interest: 310
• Manufacturing establishments: 312
• Stocks of merchandise: 313
• Vacancy and unoccupancy: 314
• Permanence of condition: 315
• Single buildings or series of buildings: 317
• Illegality: 318
• Conditions Applicable After Loss 81 Language of policy: 319
• Immediate notice of loss: 320
• Certificate of loss: 321
• SECTION 4: 322
• Incontestable clause: 323
• CHAPTER IV: 324
• Provisions of policies: 325
• Such provisions largely ineffective: 326
• Same continued: 327
• Only known causes of forfeiture are waived: 328
• What amounts to a waiver: 330
• Must the insured be prejudiced: 331
• Further illustration: 332
• Waiver before breach of insured: 333
• 100 Waiver contemporaneous with making of policy: 334
• 101 Waiver of conditions applicable after loss: 335
• 102 When mere silence is a waiver: 337
• CHAPTER V: 338
• 106 Perils of the sea: 339
• Collision: 340
• g109 Barratry: 341
• SECTION 2: 342
• 114 Friendly and Hostile fires: 343
• g115 Fires set by third persons: 344
• g116 Losses that are recoverable: 345
• 117 Direct lesses 345 1: 346
• SECTION 3: 348
• 121 Same continued: 349
• 122 Suicide by insane persons: 350
• 123 Clauses covering insane suicide: 351
• SECTION 4: 352
• 133 Total disability: 358
• Nonstaple articles: 364
• Vendor and vendee: 370
• Subrogation to contract rights: 377
• BANKS BANKING AND TRUST COMPANIES CHAPTER I: 383
• The different kinds of banks: 384
• Sources of their power: 385
• Nature of banking business: 386
• Definition of a bank: 387
• Federal revenue law: 388
• Relation of bank with a depositor is that of debtor and creditor: 389
• Bank is not a trustee for deposits: 391
• What is a general deposit: 394
• Illustration: 395
• What is a special deposit: 396
• Deposits by agents: 397
• Deposits for collection: 398
• Certificates of deposit: 399
• Memorandum checks: 401
• CHAPTER II: 403
• Crimes: 404
• The directors: 405
• The creation of national banks: 407
• Construction of rule requiring prompt return of checks: 417
• Appendix A Negotiable Instruments: 427
• Appendix B Guaranty and Suretyship: 435
• Banks Banking and Trust Companies: 443

Popular passages

Page 371 - This Company shall not be liable for a greater proportion of any loss than the amount hereby insured shall bear to the whole insurance covering the property against the peril involved, whether collectible or not.

Page 101 - 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 48 - 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 48 - A negotiable promissory note within the meaning of this, act is an unconditional promise in writing made by one person to another signed by the maker engaging to pay on demand, or at a fixed or determined future time, a sum certain- in money to order, or to bearer.

Page 158 - 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.

Page 308 - ... if any change other than by the death of an insured, take place in the interest, title or possession of the subject of insurance (except change of occupants without increase of hazard) whether by legal process or judgment or by voluntary act of the insured, or otherwise...

Page 108 - Where the holder has a lien on the instrument, arising either from contract or by implication of law, he is deemed a holder for value to the extent of his lien.

Page 37 - Where the instrument is payable to order the payee must be named or otherwise indicated therein with reasonable certainty.

Page 121 - ... 3. If he signs for the accommodation of the payee, he is liable to all parties subsequent to the payee.

Page 163 - 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.

Bibliographic information

• Title: American Law and Procedure, Volume 7; American Law and Procedure, James Parker Hall
• Editors: James Parker Hall, James De Witt Andrews
• Contributor: La Salle Extension University. Department of Law
• Publisher: La Salle Extension University, 1910
• Original from: Harvard University
• Digitized: May 8, 2008