ONUS PROBANDI, as to effect of instrument bearing signature of a firm, 63 obtained by offence or fraud, 177,179 See Estoppels-Evidence-Presumptions. ORDER, meaning of word as used in bill, 21 to drawee in bill, must be unconditional, 19 such bill negotiable by indorsement, 87 ORIGIN, of notes and bills in England, 12 OVERDUE INSTRUMENT, acceptor of, liable to pay on demand, 70 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 PARTIAL, failure of consideration, 85 indorsement, 97 acceptance, 128-130 PARTIES TO NEGOTIABLE INSTRUment, See Bill of Exchange-Cheque-Promissory Note. PARTNERS, 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. PAYEE, 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. PAYMENT, in due course defined, 34,35 in accordance with apparent tenor, 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 of one of set of bills, 188 See Crossed Cheque. PAYMENT FOR HONOR, 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.) PENALTIES (under the Stamp Act.) certain unstamped or insufficiently stamped instruments admis- for executing negotiable instrument not duly stamped, 212 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. PENCIL, contract in, 13 "PER PROC.," signature, its effect, 66 PLACE, acceptance restricted as to, 111,112 PLAINTS, forms of, 228-237 POSSESSION, what delivery constitutes change of, 28,41 when person in, is lawful holder, 30 POST-DATING. See Cheque-Penalty. PRESENTMENT FOR ACCEPTANCE, of bill of exchange when necessary, 104 consequences if drawee cannot be found for, 104 time for, when bill payable' after sight', 104,105 to whom and where, 104,105,113 on what days and at what hours, 104,106 drawee's time for deliberation to accept, 107 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 PRESENTMENT FOR PAYMENT, mode of, 104 note payable after sight, 107 consequence of omission of, 108 note payable on demand with no place specified, not necessary, 108 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- 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 PRESENTMENT FOR PAYMENT-continued. when unnecessary, 117-120 to charge acceptor for honor, 172 drawee may affix proper stamp on, 211 PRESENTMENT FOR SIGHT, promissory note, 107 PRESUMPTIONS, negotiable instrument drawn, made or transferred for considera- bearing date, date is true, 176 was accepted before maturity 176,178 transfer was before maturity, 176 bearing indorsements, were indorsed in lost, was duly stamped, 176 holder is holder in due course, 176, 178 that foreign law regarding negotiable instruments is same as See Estoppel-Evidence. PRINCIPAL AND AGENT, express and implied authority, of, 61,206 principal bound by acts incidental to agent's business, 63 what is sufficient indication, 66 effect of signature' per proc.', 66 principal liable where he induced belief, that agent's act autho- See Agent-Notice of Dishonor-Presentment. PRINCIPAL AND SURETY. See Surety. PRINCIPAL DEBTOR, who is, 76,79 PRIOR PARTIES, liability of, 75,79 PRIVITY OF COntract, the words 'per proc.,' are notice of limited authority, 66 of instrument when payment demanded, 37,122 66 99 66 at sight," on presentment," "after sight" meaning of, in, 48,49 calculation of maturity of, when payable so many months after 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 |