Page images


as to effect of instrument bearing signature of a firm, 63
when instrument appears to have been altered, 137

obtained by offence or fraud, 177,179
See Estoppels-Evidence-Presumptions.

meaning of word as used in bill, 21
to drawee in bill, must be unconditional, 19
must be for payment of money only, 20
bill payable to, is negotiable, 38

such bill negotiable by indorsement, 87

of notes and bills in England, 12

acceptor of, liable to pay on demand, 70
indorser of, 73
rights acquired by party taking, 98
equities attaching to, 101
rules as to cheques under English law, 102
when demand note deemed, 101

may be negotiated, 103
PAPER CURRENCY Act, (III of 1871.)

reference to in text, 1

failure of consideration, 85
indorsement, 97

acceptance, 128–130

See Bill of Exchange-Cheque-Promissory Note.

authority to bind each other, 63,64,207
liability of, 63,206,207

See Bill of Exchange-Cheque-Promissory Note.
PARTS OF A SET. See Bills in Sets.

defined, 29
certainty required as to, 16,20,29
misdescribed or name misspelt, 17
may be designated by title of office, 17
must not be any alternative, 17
where maker of note is, effect of, 18
See Holder-Indorsement.

[ocr errors]


in due course defined, 34,35
must be in money, 35
in accordance with apparent tenor, 35
effect of before maturity, 35
in good faith, 36
delivery up of instrument on, 37,123
computation of time for, 49–52
to whom to be made, 121
when amounts to a discharge, 35,121,124,137
of lost bill, 123,224
on indorsement on cheque purporting to be made by payee, 126
when alteration not apparent, 157
of one of set of bills, 188

See Crossed Cheque.

how and by whom made, 172
holder must receive, 172
rights of payor, 173

by drawee in case of need, 173
Penal CODE (Act XLV of 1860.)

reference to in text, 102
PenaLTIES (under the Stamp Act.)

certain unstamped or insufficiently stamped instruments admis.

sible in evidence on payment of, 211
for executing negotiable instrument not duly stamped, 212
failing to cancel adhesive stamp, 213

to set forth true consideration, 213
not drawing full number of bills in sets, 213

post-dating a bill of exchange or promissory note, 213
other device to defraud, 213

See Stamp Laws.

contract in, 13
“ PER Proc.,"

signature, its effect, 66

acceptance restricted as to, 111,112

See Payment- Presentment.

forms of, 228-237

[ocr errors]


wbat delivery constitutes change of, 28,41
must be of right, 30

when person in, is lawful holder, 30
Post-DATING. See Cheque-Penalty.

of bill of exchange when necessary, 104
consequences if drawee cannot be found for, 104

of omission of, 104,106
time for, when bill payable' after sight', 104,105
by whom, 104,105
to whom and where, 104,105,113
on wbat days and at what hours, 104,106
within what time, 104,166
drawee's time for deliberation to accept, 107
where if drawee has no fixed residence, 113

known place of business, 113
no place specified, 113
in case of death or insolvency of drawee, 116

to agent, legal representative or assignee, 116,117

mode of, 104
note payable after sight, 107
consequence of omission of, 108
note payable on demand with no place specified, not necessary, 108
by whom generally, 108,109
to whom, 108,116
at what hours, 109
lost bill or note, 109
bill or note payable after sight or date, 110
note payable by instalments, 111
effect of non-presentment of such note, 111
negotiable instrument payable at specified place and not else-
where, 111

specified place, 112
when no place for payment specified, 113
when place of business or residence of maker, drawee or ac-

ceptor unknown, 113
to charge acceptor, when accepted generally, 113
to charge drawer of cheque, 114,126

any other person than drawer of cheque, 115
negotiable instrument payable on demand, 115,116
on death or insolvency, of drawee, maker or acceptor, 116

PRESENTMENT FOR Payment-continued.

when unnecessary, 117–120
to charge acceptor for honor, 172
drawee may affix proper stamp on, 211

See Crossed Cheque --Payment.

promissory note, 107

negotiable instrument drawn, made or transferred for considera.
tion, 176–178

bearing date, date is true, 176
was accepted before maturity 176,178
transfer was before maturity, 176
bearing indorsements, were indorsed in

order, 176
lost, was duly stamped, 176

holder is holder in due course, 176, 178
that foreign law regarding negotiable instruments is same as

that of British India, 195

See Estoppel--Evidence.

express and implied authority, of, 61,206
principal bound by acts incidental to agent's business, 63
agent must indicate principal, for him to be charged, 65
what is sufficient indication, 66
effect of signature per proc.', 66
principal liable where he induced belief, that agent's act autho-

rized, 206

See Agent-Notice of Dishonor-Presentment.

See Surety.

who is, 76,79

liability of, 75,79

none between holder of cheque and drawee, 70
PROCEDURE. See Civil Procedure Code.

the words 'per proc.,' are notice of limited authority, 66

of instrument when payment demanded, 37,122


when said to be express or implied, 201

how proposal converted into, 201

effect of release of one joint promisor by, 81,202

definition, 11,12,220
illustrations of what is, 11
origin and history of, 12
made negotiable by Statute, 12
requisites of, 12,13
defined for stamp purposes, 13
conditional or contingent, 13
general construction, 13
under seal not valid, 13
delivery to payee necessary to complete, 15
necessary parties to, 15,21
form of, 16
must be for payment of money alone, 16
payee of, must be certain, 16,17
must not be payable out of a particular fund, 16
reciting pledge of security, 16

promise to give security, 16
consideration for, need not be stated, 18
when maker also payee, effect of, 18
registration of, 19
limitation, 19,221
date not mentioned in, may be proved, 19
maker of, principal debtor, 21,75
compared and contrasted with bill of exchange, 21
inland defined, 37
foreign defined, 37
must be delivered up upon payment, 37,122
when may be treated as bill, 43
“ at sight," on presentment," "after sight” meaning of, in, 48,49
days of grace allowed on, 49
calculation of maturity of, when payable so many months after
date or sight, 50,51

days after date or sight, 51
maturing on holiday, due previous day, 51,52
partner, authority of, to bind by, 63,64,207
partial failure of consideration for, 85
payable on demand considered continuing security, 101,116

when deemed overdue, 101,116

« PreviousContinue »