EXECUTION, against negotiable instruments, 225,226 EXECUTOR, appointment of maker of promissory note, or acceptor of bill to See International Law-Notice of Dishonor-Protest. presumption that, is same as Indian, 195 effect of, on holders rights, 34,48 signature obtained by 48 instrument obtained by, 98 no defence against holder in due course, 176-179 in origin of instrument shifts burden of proof, 176-179 GENERAL CLAUSES ACT (I of 1868). references, to in text, 8,51,60 GOMASTAH. signing instrument without description, may by custom not be personally liable, 5 See Agent. GOOD FAITH, payment in, 34 what is, 36 definition of, 102 banker collecting crossed cheque in, 187 See Negligence- Notice. GOOD FRIDAY, is a public holiday, 52 GRACE, Days of cheque not entitled to, 23,24 nature and origin of, 49,50 demand instrument, not entitled to, 49 effect when falling on public holiday, 51 allowed on notes payable by instalments, 111 GREGORIAN CALENDAR, time to be calculated according to, for purposes of, limitation Act. 51 defined, 29 of lost instrument, 29 after maturity, his rights, 29,98-102 Byles' definition of, 30 when may recover on bill, 30 'de facto,' his rights, 31 of ambiguous instrument, his rights, 43 of inchoate instrument, when may complete, 47 deriving title from holder in due course, 96 after dishonor, his rights, 98-102 presumptions as to, 176 HOLDER IN Due course, defined, 31 may be a person who has taken bill carelessly, foolishly or rights against drawer or maker, 67 acceptor, 70 indorser, 73 liability to subsequent parties on bill obtained from him by fraud, 98 of accommodation bill, 99 HOLIDAYS, public, what are, 52 instrument payable on, 51 excluded, in determining what is reasonable time, 166 HONOR, ACT of. See Act of Honor. HUNDI, saving of usages relating to, 1,15 in what it differs from bill, 2 mode of demanding payment of, 2 Shah or holder of, 2 should not be paid unless indorsed by Shah, 2,36,94 payment of lost, forged or stolen, liability of Shah, 3,36 Shah receiving payment of such, liable to refund to drawee, 4 custom cannot over-ride terms of, 6 when no proof of local usage, English law applies to, 7 rights of holder of over-due, 101 notice of dishonor, 146-148 execution of, by corporation, 198 how to be stamped, 209 stamp on, 214-216 rules of Governor-General as to stamping, 218,219 limitation, as to, 220-222 who may be joined as parties to suit on, 223 summary suit on, 226-228 forms of plaints on, 228-237 protests on, 239-241 See Acceptance-Acceptor-Civil Procedure Code-Delivery- Dishonor-Payment-Presentment-Protest. ILLEGAL CONSIDERATION. See Consideration. ILLUSTRATIONS, in acts, how to be dealt with by Courts, 92 IMMEDIATE PARTIES, who are, 85 IMPRESSED LABELS, when to be used, 209, 218 what are, 44 must be signed and delivered, 45 duty of person taking, to ascertain authority of person who signs 47 delivery of necessary, 47 who may complete, 48 INDEMNITY, contract on, bill is one of, 76 party paying lost instrument, entitled to, 123 INDORSEE, defined, 42 is holder in due course, 31 his rights under conditional indorsement, 89 restrictive indorsement 93 alteration of instrument by, 130, 136 See Indorsement. INDORSEMENT, definition and requisites of, 40-42,91 place of signature to, 41 allonge what it is, 41 for collection, 41 consideration need not appear in, 42 of inchoate instrument, 42 by person not the holder, 42 corporation, 42,60 in blank, defined, 42 in full defined, 42 special, 42 by infant, 56 'per proc.,' 66 striking out, effect of, 82 forged, on bill who bound by, 82 may be restrictive, 91,93 of hundi 'for realization', 93,94 INDORSEMENT―continued. excluding liability, 95 of instrument in blank, makes it payable to bearer, 96 by legal representative, 98 presumption as to order of, 176 foreign, on inland bill, 192 exempted from stamp duty, 215 under decree of Court, 225 INDORSER, defined, 41 his liability, 73 his contract on the instrument, 73-75 of hundi, his contract, 74 indorsing after dishonor of instrument, 73,75 in what cases a surety, 74,77 rights, when compelled to pay instrument, 77 discharge from liability, 81,124-126 may exclude his liability or make it conditional, 95 his rights, on again becoming holder of instrument so indorsed, bound, notwithstanding previous alteration of instrument, 137 INITIALS, as signature, 15 INLAND INSTRUMENT, defined, 37 illustrations of, 37 protest of, not necessary, 160 INSOLVENCY, presentment to maker, drawee or acceptor, 117 not excuse for non-presentment, 119 See Presentment. INSOLVENT ACT (XI Vict. c. 21). referred to in text, 149 INSTALMENTS, instrument not conditional or uncertain because payable by, 20 decree on negotiable instrument may order payment by, 224, 225 |