American Commercial Law Series With a Preliminary Chapter On the General Natur
American Commercial Law Series With a Preliminary Chapter On the General Natur
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To quickly assess the difficulty of the text, read a short excerpt:
EFFECT OF INDORSEMENT TO TRANS- FER INCIDENTS. An Indorsement of a negotiable instrument is effective to transfer the Incidental rights therein to aid or secure the enforcement of the debt.
The debt expressed in the negotiable instrument is the main thing. Provisions and securities to aid 86 NEGOTIABLE PAPER.
in its enforcement and which do not destroy nego- tiability, pass with an indorsement of the note.
Thus one who receives a note which has been se- cured by collateral, is entitled to the c...ollateral for the purposes for which it was given ; and mortgages should be assigned with the debt which they secure.
So authority to confess judgment, waivers of rights, agreements to pay costs, attorney's fees, etc. , all pass to the holder of the note, because they are incidental to the debt.
Sec. 55. PRESUMPTIONS AS TO INDORSEMENT.
(1) Presumption as to time. Presumed unless dated after maturity to have been before Instrument was overdue.
Indorsements after maturity though good to trans- fer title, subject one to defenses, if any, as we shall note later; hence the importance of this presump- tion.
What to read after American Commercial Law Series With a Preliminary Chapter On the General Natur?
You can find similar books in the "Read Also" column, or choose other free books by Alfred William Bays to read onlineMoreLess
To quickly assess the difficulty of the text, read a short excerpt:
EFFECT OF INDORSEMENT TO TRANS- FER INCIDENTS. An Indorsement of a negotiable instrument is effective to transfer the Incidental rights therein to aid or secure the enforcement of the debt.
The debt expressed in the negotiable instrument is the main thing. Provisions and securities to aid 86 NEGOTIABLE PAPER.
in its enforcement and which do not destroy nego- tiability, pass with an indorsement of the note.
Thus one who receives a note which has been se- cured by collateral, is entitled to the c...ollateral for the purposes for which it was given ; and mortgages should be assigned with the debt which they secure.
So authority to confess judgment, waivers of rights, agreements to pay costs, attorney's fees, etc. , all pass to the holder of the note, because they are incidental to the debt.
Sec. 55. PRESUMPTIONS AS TO INDORSEMENT.
(1) Presumption as to time. Presumed unless dated after maturity to have been before Instrument was overdue.
Indorsements after maturity though good to trans- fer title, subject one to defenses, if any, as we shall note later; hence the importance of this presump- tion.
What to read after American Commercial Law Series With a Preliminary Chapter On the General Natur?
You can find similar books in the "Read Also" column, or choose other free books by Alfred William Bays to read onlineMoreLess
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