The Law of Bills, Notes, and Checks: Illustrated by Leading Cases

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Little, Brown,, 1880 - 692 páginas
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Página 491 - that the laws of the several states, except where the constitution, treaties or statutes of the United States shall otherwise require or provide, shall be regarded as rules of decision. In trials at common law, in the courts of the United States, In cases where they apply.
Página 33 - Upon a review of the cases which are reported, this court is of opinion that a letter written within a reasonable time before or after the date of a bill of exchange, describing it in terms not to be mistaken, and promising to accept it, is, if shown to the person who afterwards takes the bill on the credit of the letter, a virtual acceptance binding the person who makes the promise.
Página 555 - Gr., in Easter Term last, obtained a rule nisi for a new trial, on the grounds of misdirection and that the verdict was against evidence.
Página 38 - There is no doubt but an agreement to accept may amount to an acceptance ; and it may be couched in such words as to put a third person in a better condition than the drawee. If one man, to give credit to another, makes an absolute promise to accept his bill, the drawee, or any other person, may show such promise upon the exchange, to get credit, and a third person, who should advance his money upon it, would have nothing to do with the equitable circumstances which might subsist between the drawer...
Página 427 - There is no doubt that a bona fide holder of a negotiable instrument for a valuable consideration, without any notice of facts which impeach its validity as between the antecedent parties, if he takes it under an indorsement made before the same becomes due, holds the title unaffected by these facts, and may recover thereon, although, as between the antecedent parties, the transaction may be without any legal validity.
Página 253 - Mr. Justice STORY delivered the opinion of the court. This is a writ of error to the Circuit Court of the district of Mississippi. The...
Página 533 - It certainly has been, since the later cases, the universal understanding that if the note were proved to have been obtained by fraud or affected by illegality, that afforded a presumption that the person who had been guilty of the illegality would dispose of it, and would place it in the hands of another person to sue upon it, and that such proof casts upon the plaintiff the burden of showing that he was a bona fide indorsee for value.
Página 493 - It is for the benefit and convenience of the commercial world to give as wide an extent as practicable to the credit and circulation of negotiable paper, that it may pass not only as security for new purchases and advances, made upon the transfer thereof, but also in payment of and as security for pre-existing debts.
Página 67 - ... negotiable and payable at the office of discount and deposit of the Bank of the United States, without defalcation, for value received...
Página 83 - ... and also every such note payable to any person or persons, body politic and corporate, his, her or their order, shall be assignable or indorsable over, in the same manner as inland bills of exchange are or may be, according to the custom of merchants...

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