The Elements of Business Law : With Illustrative Examples And Problems
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C sues B. Result ? CS-^wvT *^( 'ukW IM. vw*^>^ 93. What are the guarantor's remedies against the principal? What is his right of subrogation? of contribution?
Problem g. X gives C a promissory note secured by a mortgage on X's property. B guaranties the payment. After maturity C sues and recovers from B. What are B's rights against X ? ""TA/W^ta. ftA-*- Problem 10. X owes C, and B, D, and E guaranty the debt. C recovers from B. What are B's rights? P4 ^ • Digitized by Microsoft® CHAPTER IX NEGO...TIABLE INSTRUMENTS I. Nature and Characteristics 94. Kinds of negotiable instruments. Negotiable instruments are written contract obligations which can be transferred from hand to hand like money. They are instruments of trade or of credit, that is, they are a substitute for money or an evidence of a postponed debt. They may be issued by private persons, or by banks, or by the government.
Examples : I. If B buys a bill of goods of C, he may {a) pay money, which may be either coin, promises of the government to pay, or promises of a national bank to pay ; {b) give a check on his bank ; (c) give his prom- issory note; {d) accept a bill of exchange drawn on him by the seller; {/) transfer D's check, promissory note, or bill of exchange drawn or payable to his (B's) order or to bearer ; (y) draw and deliver a bill of exchange on E (who owes B) payable to C's order.
What to read after The Elements of Business Law : With Illustrative Examples And Problems?
You can find similar books in the "Read Also" column, or choose other free books by Huffcut, Ernest W. (Ernest Wilson), 1860-1907 to read onlineMoreLess
To quickly assess the difficulty of the text, read a short excerpt:
C sues B. Result ? CS-^wvT *^( 'ukW IM. vw*^>^ 93. What are the guarantor's remedies against the principal? What is his right of subrogation? of contribution?
Problem g. X gives C a promissory note secured by a mortgage on X's property. B guaranties the payment. After maturity C sues and recovers from B. What are B's rights against X ? ""TA/W^ta. ftA-*- Problem 10. X owes C, and B, D, and E guaranty the debt. C recovers from B. What are B's rights? P4 ^ • Digitized by Microsoft® CHAPTER IX NEGO...TIABLE INSTRUMENTS I. Nature and Characteristics 94. Kinds of negotiable instruments. Negotiable instruments are written contract obligations which can be transferred from hand to hand like money. They are instruments of trade or of credit, that is, they are a substitute for money or an evidence of a postponed debt. They may be issued by private persons, or by banks, or by the government.
Examples : I. If B buys a bill of goods of C, he may {a) pay money, which may be either coin, promises of the government to pay, or promises of a national bank to pay ; {b) give a check on his bank ; (c) give his prom- issory note; {d) accept a bill of exchange drawn on him by the seller; {/) transfer D's check, promissory note, or bill of exchange drawn or payable to his (B's) order or to bearer ; (y) draw and deliver a bill of exchange on E (who owes B) payable to C's order.
What to read after The Elements of Business Law : With Illustrative Examples And Problems?
You can find similar books in the "Read Also" column, or choose other free books by Huffcut, Ernest W. (Ernest Wilson), 1860-1907 to read onlineMoreLess
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