PARTIES (See " Bills of Exchange," " Infant," "Feme Covert," " Agent,”

"Partner.")

general observation upon peculiarities of a bill, 2.

to a bill in general, 18 to 53.
different parties, 18.

capacity of them, 18 to 26.
number and names, 26 to 30.

how a person may become so, 30.

by agent, 30 to 32-(See "Agent.")

by partner, 32 to 52-(Sce" Partner.")

PARTNERS (See " Partnership," " Company Incorporate.")
difference between, and a joint tenant, 39.

act done by, in name of his firm, binds such firm, 39, 40. 160. 185.
but this rule does not bind, to the execution of deeds, 40.

cases of fraud between payee and holder, 43.

doubtful whether he may guarantee in name of firm, without au-
thority, 40.

collusion or fraud on part of, to impose on his co-partners with know-
ledge of his separate creditor, avoids any act done by such partner
for benefit of such creditor, 41. in notes on latter part of case
Swan v. Steele, 7 East. 210.
[liability, 41.
no stipulation in partnership deed releases the co-partners from their
but on proof of such a clause, and bill or note issued without the
knowledge of other co-partners, consideration must be proved, 42.
deceased, his executor liable in equity on such a bill or note, 42.
partner not bound where the least fraud is discoverable on the part of
the creditor, 43.

how far rule applies in case of an antecedent debt, 44.

what will and what will not raise a presumption of fraud or collusion,
445.-(See "Fraud.")

subsequent approbation implies previous authority, 45.

but express notice from rest of partners that they would not be liable,
releases them, 45.

but persons being partners in a particular concern only, are not liable
on bills, &c. drawn by one co-partner in name of firm, in relation to
another concern, 46.

how far bankruptcy of one partner disables him from using the name
of the firm effectively, 46-(See "Bankrupt.")

how far dissolution of partnership by agreement notified in Gazette
disables him, 47.

and when one partner after such dissolution draws bills, the others
need not apply for injunction to discharge them from liability, 47.
what is notice, and what has been deemed notice, 48.

affected by an admission made after dissolution of a previous partnership
transaction, 48.

"In-

two persons drawing a bill, and both signing name, considered by law
as partners, though indorsement by one only bad, 49.—(See
dorsement.")

having an express authority to act for all, must be guided by it, 50.
having an express authority after dissolution to receive debts, does not
empower him to draw a bill, 50.

refusing to sign a notice of dissolution, the rest may file a bill, 51.
issuing bills in name of firm, co-partners may file a bill, 51.
drawing a bill in name of firm, must state it accordingly, 51.

otherwise partnership not liable, 51.

but this rule does not extend to the acceptance or indorsement of a
bill, previously drawn on the firm, 51, 226.

drawing bills in his own name, and applying proceeds to partnership
account, co-partners not liable, 51.

PARTNERS-(continued).

but this has been decided otherwise, 52.

when a bill is drawn by, in name of firm, how to sign it, 116.
how to declare on a bill drawn by one, in name of firm, 116.

how far bankruptcy of one partner restrains the acts of the solvent
partner, 49-(Sce" Bankrupt," and "Bankruptcy.")

may indorse bills in name of firm, 160.-(See "Indorsement.")
notice of dishonor of a bill to one, notice to all, 297.

payment to one partner, in name of several, good, 358.

if a merchant joins his clerk's name to his firm as partner, an action
must be in their joint names, 439.

unless distinctly proved that he had no interest, 439.

acknowledgment by one partner to bind another, to take case out of
the Statute of Limitations, must be clear and explicit, 479.

proof of admission by one partner of the hand-writing of another, to
an acceptance, is enough, 438.

the declarations of one partner, how far evidence against another, 490.
-(See Admission," Evidence.")

แ

after partnership established, admission of one partner evidence as to
joint contracts against another, as well before as after dissolution,
508. 490.-(See "Admission," "Evidence.")

when one partner may be called to prove that another had no authority
to draw bill in name of firm, 528.

and when bankruptcy of the firm would not affect the competency of
witness, 528.

PARTNERSHIP (See "Partners," "Company Incorporate.")

after dissolution of, by agreement, notified in Gazette, a partner cannot
use the name of firm, 47.

what is sufficient notice of dissolution of, 48.-(See "Notice.")

a dormant partner may dissolve without notice, 48.

firm affected by an admission after dissolution of, and previous partner-
ship transaction, 48.

express authority given to a partner after dissolution to receive debts,
does not empower him to draw bills, &c. 50.

a partner refusing to sign a notice of dissolution, co-partners may file
[stated, 51.
a bill, 51.

not liable on any bill drawn, &c. by one partner, unless expressly
otherwise when a bill, &c. is drawn on a firm, 51.

when a bill is indorsed to several general partners, the indorsement of
one suffices, 159.

if established, the proof of the hand-writing of one partner to an ac-
ceptance, &c. is enough, 480.-(See "Hand-writing," "Evidence.")
after indorsement in blank, no proof of partnership required, though
several join in suing on the bill, &c. 504.

the names of persons in partnership may be suggested to a witness
called to prove it by counsel, 506.

admissions of one partner evidence as to joint contracts against the
other as well before as after dissolution, 490, 508. (See " Admis-
sion," "Evidence.")

PARTS OF FOREIGN BILLS, 80, 1.-(See "Setts.")

PAYEE

of a bill of exchange, who is, 1.27.

where two persons, not in partnership, are to bill drawn by themselves,
with both their names attached, both must indorse, 49.

right of action not affected by a release from drawer to acceptor, 6.
same with regard to a set off, 6.

PAYEE (continued).

the wish of to indulge the maker of a bill or note expressed in such
note, is not a contingency, 61.

forgery of an indorsement of, to one part of a foreign bill, no defence
to an action on the other parts, 81.

where a mis-description of, will not vitiate a bill, 83.

of a bill originally founded on a good consideration, indorsing <ame
over for a usurious contract, how far such bill is void, 104-but sce
Appendix, 692,

delivery of a bill to is not essential to vest legal interest, 122. 181.
alteration of a bill by, in what particular, invalidates the same, 134.
when a payee mentioned in a bill, he must indorse to give third person
interest, 171. 184.

may make a conditional indorsement before acceptance, and thus bind
the acceptor, 179.

may make a qualified indorsement, 180.

when omission of notice of dishonor to, is material, 261.

payee of a note lending name to give it credit is intitled to notice of
dishonor, though he knew maker was insolvent, 261.

payment of a bill made to, unless he be holder, inoperative, 358.
payee of a check receiving the money on, after knowledge of the bank-
ruptcy of the drawer, when he may be sued, 360.

payment of a bill to, who is holder of the same, by bequeathing a
larger legacy than amount of bill, is not valid, 369.

of a bill may sue acceptor, whether he accepted as drawee, or for
honor of drawer, and in such case drawer also, 439.

when his identity with a person making indorsement must be proved,
500.-(See "Evidence," " Identity.")

PAYMENT. (See "Presentment for Payment," "Receipt.")
General Points,

of a debt, when should not be to an agent or attorney, 359.
till payment of a bill by the acceptor, it may be transferred ad
infinitum, 168.

payment of by acceptor will discharge all parties to it, 445.
for the honor of a bill gives a right of action to the person making
such payment, 168.

[169. 181.
and after payment of part, it may be indorsed over for the residue,
a policy of insurance may be effected for securing the payment,

182.

of a bill by a prior party, discharges the subsequent one, 189.
application for, must be made though the bill be lost, 195.
of a bill, if made without knowledge of laches, whether it may be
recovered back, 307.

of one bill by giving another, does not prevent holder suing on
the first, in case the latter is not paid, 125.

part payment of a bill is a waiver of neglect to make presentment
for payment, 319.

1. By and to whom payment of a bill may be made, 357 to 364.

may be made by any of the parties, and even by a total stranger,
357.

may be made by the bail of either of the parties, 357.

but not so as to charge a prior party, 441.

should be made to the real proprietor of the bill, 358.

to one of several partners, 358.

or to some person authorized to receive it, 358.

to payce, unless holder, is inoperative, 358.

and if a bill is payable to A. B. and not negotiable, A. B. must
demand payment, 358.

PAYMENT (continued).

1. By and whom payment of a bill may be made-(continued).

if holder dead, when payment must not be made to his personal
representative, 358.

but such payment to a person who has probate of a forged will,
valid, 358.

on a bill payable to A. or order, for use of B. payment must be
to A. 358.

if a bill beneficial to a minor, valid, but to a married woman,
after knowledge of that fact, is not, 358.

how far payment to a person who had authority to receive it, but
which is afterwards revoked, is valid, 358. 59.

in ordinary cases mere production of the bill or note is sufficient
to authorize the payment, 359.

how far payment of a bill that has been lost, with or without
notice of it, it is good, 359.

but payment of a check or bill before due will not discharge the
drawer, unless it be made to the real proprietor, 359.
advisable that an acceptor should not pay his bill before due, or
after notice from drawer or indorsee not to do so, 168. 359.
of a check by a banker under suspicious circumstances, makes
them liable to repay the money to drawer, 359.-(See“ Banker.”)
how far the payment of a bill transferable only by indorsement is
protected, 360.

to a bankrupt, with notice of the fact, ineffectual, 360.-(Sce
Bankrupt," and " Bankruptcy.")

6.

payment by a bankrupt, how far valid, 361, 2.

2. At what time payment to be made, 364 to 367.

ought not to be paid before due, and if it be, and then fraudu-
lently refused, fresh holder may recover, 168. 364.

the general rule is, that party has till the last moment of the day
to pay money, 365.

but not so with respect to foreign bills, and when payment of them
must be made, 365.

and inlands are payable on demand at the day appointed for pay-
ment, 365.

and if bill not paid when demanded, holder may immediately re-
sort to drawer, 365.
[366.

not usual to give notice of non-payment till the following morning,
if a second presentment is made on last day of grace, acceptor
may insist on paying without extra expences, 366.

but if no second presentment be made, no subsequent tender by
acceptor, even with such extra expences, is a bar to action, 366.
but not so as to the drawer and indorser, 366, 7.

promissory note, unaccounted for, for 20 years, is presumption
of, 367, 8, 9.

3. Payment, how made, 367 to 370.

when bill payable abroad in foreign coin which has been reduced
in value, how much should be paid, 367.

war between a foreign country and this will sometimes excuse the
obligation to pay in such foreign country, and when it will not,
300. 367.

effect of payment by bills sent by post and lost, 203, 4.-(See
"Post," "Loss," "Bill of Exchange.")

if payment is made by a draft, acceptor not discharged if holder
use reasonable diligence to get same paid, 367.

when this is otherwise, and what is not evidence of such agree-
ment, 367.

of the effect of payment by a draft, 367, 8, 9.

by bequeathing a larger legacy to payee than amount of bill, is
not good, though he be holder of the bill at testator's death, 369.

PAYMENT (continued).

4. Of the effect of giving time to, or releasing acceptor, 371 to 579.—
(See "Acceptor," "Indulgence.")

giving time for payment on renewing the bill for valuable consi-
deration to the acceptor, other parties to it discharged, 371.
and this though they had notice of the dishonor, 371.

but an holder may forbear as long as he pleases to sue, 372, 3.
378.

principle on which this rule founded, 373.

same rule not confined to bills, 373, 4.-(See " Bond," "Obligee.")
suing acceptor to execution, and taking part payment and security
for residue, with exception of nominal sum, indorser discharged,
374.

and letting such acceptor out of custody on a ca. sa. will have
same effect, 375.

holder taking part payment, and a new acceptance, but retaining
old bill in his hands, such agreement amounts to giving time,
375.

and such agreement will discharge other parties, though drawer
had no effects in acceptor's hands, 375.

similar indulgence to drawer or indorser discharges subsequent
parties, 375.

and advances made on a note payable on demand, beyond time
agreed upon between plaintiff and the drawer, indorser dis-
charged, 375.

taking a cognovit payable by instalments at a distant time, or one
without giving time, how far drawer discharged, 250. 375. 379.
evidence of an assent or a promise to pay after time given reverses
the rule, 376.

and drawer making assent under a mistake that he was discharged,
may be sued, 376.

[376. 7.

but if assent given by an indorser to the acceptor, he may not,
when the laches of an holder are excused for want of effects, he
may give time to acceptor without discharging such parties,

377.

an holder for a valuable consideration of an accommodation bill
may prove it under drawer's commission, though he has taken
security from acceptor, 377.

the same rule prevails where the acceptor is merely the drawer's
agent, 377.

holder may receive proposals for an arrangement, and forbear to
sue, without prejudice to claim on other parties, 378.

how far an agreement "not to press the acceptor" discharges
other parties, 378.

how far an offer to retain the bill for a few days, made to drawer,
would do so, 379.

an express agreement not to sue acceptor, made after notice of
non-payment, but without consideration, does not, 379.

5. Of receiving part payment, 380.

an holder may receive part payment from acceptor, and sue other
parties, 380.

recovering part payment from drawer does not discharge accom-
modation acceptor, 380.

holder of a joint and several note may enter up judgment on a
cognovit against one, and levy on a fi. fa. without discharging
the other, 380.

what conduct holder should pursue on presentment for payment
on a partial payment, 380.

6. Of the effect of indulgence to prior parties, 380 to 384.-(See “ IB-
dulgence.")