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acceptance acceptor agent agreed to pay agreement Ames amount bailee bailment bailor bank Bates bill of lading breach buyer called carrier CHAPTER claim common carrier common law consideration contract to sell corporation court court of equity creditors damages debt debtor deed defense delivered delivery discharged dishonor draft drawee drawer due course duties enforced EXAMPLE guarantor guaranty holder in due horse implied indorsement injury interest Jones land Law Merchant liable loss maker maturity mortgage negotiable instrument notice obligation offer offeror owner paid partners partnership party payable payee payment perform personal property possession presentment principal promise to pay promissory note purchase real estate received recover refused REVIEW QUESTIONS rule seal secure seller Smith sold specified Statute of Frauds Statute of Limitations sued surety tenant third person transfer usurious valid voidable warranty warranty deed writing
Page 122 - An accommodation party is one who has signed the instrument as maker, drawer, acceptor or indorser, without receiving value therefor, and for the purpose of lending his name to some other person. Such a person is liable on the instrument to a holder for value, notwithstanding such holder at the time of taking the instrument knew him to be only an accommodation party.
Page 297 - A corporation is an artificial being, invisible, intangible, and existing only in contemplation of law. Being the mere creature of law, it possesses only those properties which the charter of its creation confers upon it, either expressly or as incidental to its very existence.
Page 145 - Where the bill is drawn payable elsewhere than at the residence or place of business of the drawee.
Page 353 - Witnesseth: That the said party of the first part for and in consideration of the sum of five hundred dollars ($500.00), lawful money of the United States of America, to them in hand paid by the said party of the second part, the receipt whereof is hereby .confessed and acknowledged...
Page 359 - Provided Always, and these presents are upon this express condition, that if the said party of the first part, his heirs, executors, or administrators, shall well and truly pay unto the said party of the second part, his executors, administrators, or assigns...
Page 130 - Every negotiable instrument is payable at the time fixed therein without grace. When the day of maturity falls upon Sunday, or a holiday, the instrument is payable on the next succeeding business day. Instruments...
Page 163 - If the payment be less than the interest, the surplus of interest must not be taken to augment the principal, but interest continues on the former principal until the period when the payments taken together exceed the interest due...
Page 192 - Where there is an unconditional contract to sell specific goods, in a deliverable state, the property in the goods passes to the buyer when the contract is made and it is immaterial whether the time of payment, or the time of delivery, or both, be postponed.