A Text book On Commercial Law a Manual of the Fundamental Principles Governing
A Text book On Commercial Law a Manual of the Fundamental Principles Governing
Salter S Salter Storrs Clark
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What is the contract one makes when he indorses a note? An unaccepted draft? An accepted draft? A check? With whom does he make it, i. E. , for whose benefit? What is the effect of that? 49. When one owns a piece of dishonored commercial paper which has indorsements of other parties upon it, state whom he may sue, if it be a note? An unaccepted draft? An uncertified check? An accepted draft? A certified check? A certificate of deposit? 60. In each of those cases, whom may each indorser hold res...ponsible to himself? Can a first indorser ever sue a second indorser? 61. What does "without recourse" mean? 52. If the second indorser should agree with the third indorser that 154 Particular Cases. the former should not be responsible to the latter, could a fourth indorser sue the second? Why? Could the third sue the second? Why? 53. What is meant by demand and notice in connection with dis- honored paper? 54. Is the maker of a note discharged if the owner neglects to make demand? Is the acceptor of a draft ?
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