Sec. 322 (186).

Within what Time a Check Must be Presented.

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.

Sec. 323 (187). Certification of Check; Effect of.

Where a check is certified by the bank on which it is drawn the certification is equivalent to an acceptance.

Sec. 324 (188). Effect where the Holder of Check Procures it to be Certified. Where the holder of a check procures it to be accepted or certified the drawer and all indorsers are discharged from liability thereon.

Sec. 325 (189).

When Check Operates as an Assignment.

A check of itself does not operate as an assignment of any part of the funds to the credit of the drawer with the bank, and the bank is not liable to the holder, unless and until it accepts or certifies the check.

ARTICLE XVIII.

NOTES GIVEN FOR A PATENT RIGHT AND FOR A SPECULATIVE CONSIDERATION.

Section 330. Negotiable Instruments Given for Patent Rights.

331. Negotiable Instruments Given for a Speculative Consideration. 332. How Negotiable Bonds are Made Non-Negotiable.

Sec. 330. Negotiable Instruments Given for Patent Rights.

A promissory note or other negotiable instrument, the consideration of which consists wholly or partly of the right to make, use or sell any invention claimed or represented by the vendor at the time of sale to be patented, must contain the words "given for a patent right" prominently and legibly written or printed on the face of such note or instrument above the signature thereto; and such note or instrument in the hands of any purchaser or holder is subject to the same defenses as in the hands of the original holder; but this section does not apply to a negotiable instrument given solely for the purchase price or the use of a patented article.

Sec. 331. Negotiable Instruments for a Speculative Consideration.

If the consideration of a promissory note or other negotiable instrument consists in whole or in part of the purchase price of any farm product, at a price greater by at least four times than the fair market value of the same product at the time, in the locality, or of the membership and rights in an association, company or combination to produce or sell any farm product at a fictitious rate, or of a contract or bond to purchase or sell any farm product at a price greater by four times than the market value of the same product at the time in the locality, the words, "given for a speculative consideration," or other words clearly showing the nature of the consideration, must be prominently and legibly written or printed on the face of such note or instrument above the signature thereof; and such note or instrument, in the hands of any purchaser or holder, is subject to the same defenses as in the hands of the original owner or holder.

Sec. 332. How Negotiable Bonds are Made Non-Negotiable.

The owner or holder of any corporate or municipal bond or obligation (except such as are designated to circulate as money, payable to bearer), heretofore or hereafter issued in and payable in this state, but not registered in pursuance of any state law, may make such bond or obligation, or the interest coupon accompanying the same, non-negotiable, by subscribing his name to a statement indorsed thereon, that such bond, obligation or coupon is his property; and thereon the principal sum therein mentioned is payable only to such owner or holder, or his legal representatives or assigns, unless such bond, obligation or coupon be transferred by indorsement in blank, or payable to bearer, or order, with the addition of the assignor's place of residence.

CALIFORNIA CODES.

A. CIVIL CODE OF 1872 (TITLE XV.).

N. B. The larger number is that of the complete Codes. The smaller one indicates the Civil Code.

CHAPTER I.

ARTICLE I.

GENERAL DEFINITIONS.

8086. To what instruments this title is applicable.

3086. The provisions of this title apply only to negotiable instruments as defined in this article.

8087. Negotiable instruments, what.

3087. A negotiable instrument is a written promise or request for the payment of a certain sum of money to order or bearer, in conformity to the provisions of this article.

8088. Must be for unconditional payment of money.

3088. A negotiable instrument must be made payable in money only, and without any condition not certain of fulfillment.

3089. The person to whose order a negotiable instrument is made payable must be ascertainable at the time the instrument is made. 8090.

Instrument may be in alternative.

3090. A negotiable instrument may give to the payee an option between the payment of the sum specified therein and the performance of another act; but as to the latter the instrument is not within the provisions of this title.

3091. A negotiable instrument may be with or without date, and with or without designation of the time or place of payment.

8092. May contain a pledge, etc.

3092. A negotiable instrument may contain a pledge of collateral security, with authority to dispose thereof.

8093. What it must not contain.

3093. A negotiable instrument must not contain any other contract than such as is specified in this article.

8094. Date.

3094. Any date may be inserted by the maker of a negotiable instrument, whether past, present, or future, and the instrument is not invalidated by his death or incapacity at the time of the nominal date.

8095. Different classes of negotiable instruments.

3095. There are six classes of negotiable instruments, namely:

3099. A negotiable instrument which does not specify the time of payment, is payable immediately.

3100. A negotiable instrument which does not specify a place of payment, is payable at the residence or place of business of the maker, or wherever he may be found.