CONSTRUCTION, most favorable to validity adopted, 159, 166 of contract by bill, 384 of Act or document referring to repealed Act, 447 CONTENTS, vii. CONTINGENCY, instrument payable on a, not a bill, 48 of acceptor, 312, 385 of maker of a note, 430 consideration for simple, sufficient for bill, 166 holder having lien by, deemed holder for value, 180 CONTRIBUTION, between indorsers, 317 COPY, indorsement may be on in certain places, 213 where bill lost or detained, 304 of bill or note may be in protest, 443 of protest prima facie evidence, 444 CORPORATION, bill drawn on officer of, 99 power of to become liable on bill, 124, 131, 134 under Dominion charter, 131 Provincial charter, 132-3 word "limited" to follow name of, 132-4 illustrations of bills of, 134 bill by officer in accordance with by-law binding on, 131 not to issue note payable to bearer, 132 without power, other parties on bill liable, 136 agent or officer of, party to bill, 159-164 how officers should sign to escape personal liability, 160 seal sufficient execution of writing by, 437 note or bill of, does not require seal, 437 municipal, liable on note, 135, 438 debentures of, negotiable, 455 COSTS, in discretion of court, in action without presentment, 307, 427 of protest part of liquidated damages, 324 of protests in different provinces, 441-2 CO-SURETIES, when accommodation indorsers are, 317. COUNTER-CLAIM, defined, 24 compared to incidental demand, 25 defence in the Act, 30 COUNTERMAND of payment of bill, 294 cheque, 404 stops payment of cheque if not accepted, 404 COUNTRY, use of word as to Canada, 379, 381 conflict of laws where bill concerns more than one, 380 COUPONS, See Bonds or Debentures are negotiable, 455-6 no days of grace, 456 dishonored, bear interest, 457 COURT has discretion as to costs when, 307, 427 CREDIT, letter of, not negotiable, 459 CROSS or mark, a sufficient signature, 40 CROSSED CHEQUES, 405-412 see Cheque bills and notes payable in, 42-5 rule for calculating foreign, 390 bank notes and Dominion notes are, 418 CURRENT RATE of exchange for bill dishonored abroad, 327 CUSTOM, See Usage basis of law merchant, 451 local must be proved, 452 for foreign bill dishonored in Canada general judicially established, 452 may determine negotiability of instrument 457 notice of death of, stops payment of cheque, 404 bank may pay bills of, made payable there, 404 DAMAGES, drawee liable for breach of agreement to accept, 104-5 interest as, for non-payment at maturity, 325 DAMAGES--Continued, further, on bill dishonored abroad, 326 which holder may recover, 324 which drawer or indorser may recover, 324 bank liable for improper refusal to pay cheque, 404 bill payable at fixed period after, 82 may be inserted in undated bill or acceptance, 85 presumption as to undated acceptance, 86 indorsement, 230 bill dated on Sunday or holiday valid, 88 antedated or postdated bill or cheque valid, 88, 396 alteration of, material, 363 of protest, delay runs from, on acceptance for honor, 368 from which prescription runs, 346-9 of acceptance after previous refusal to accept, 106 origin of, 95 determined by place of payment, 91, 390, 392 DEATH, revokes authority to complete bill not given for value, 118-9 presentment for acceptance where drawee dead, 248-9 for payment where drawee or acceptor dead, 262 of holder, rights pass to personal representative, 209 DEBENTURES-See Bonds or Debentures DEBT, antecedent, is consideration for a bill, 166, 168 DEFECT OF TITLE, holder taking without notice of, 186 what is, 190-6, 226 DEFENCE, in Act includes counter claim, 30 total failure of consideration a good, 176 DEFENCE-Continued. where plaintiff is not the owner, 233 DEFINITION, of words used in the Act, 22-31 of a bill of exchange, 33 of an inland bill, 52 of a foreign bill, 52 of a cheque, 395 of a promissory note, 413 See Words and Phrases DELAY, caused by presentment excused, 243 in making presentment excused, 263-4, 371 in sending notice of dishonor excused, 290-2 of bill necessary to complete contract, 119-121 by whom it must be made, 121 possession creates presumption of, 121 bill payable to bearer negotiated by, 207 person paying bill entitled to, 309 transferrer by, defined, 327 liability of, 328 what he warrants, 329-330 to acceptor at or after maturity, discharges bill, 352 DEMAND, bill or note payable on, 33, 413, 425 when a bill is payable on, 80 overdue bill accepted or indorsed is payable on, 82 when prescription begins to run, when interest begins to run, 233-4 343-4 liability of indorser of note payable on, 424 no days of grace on bill payable on, 424 when bill payable on, should be presented, 255-6 DEMAND-Continued. note payable on, may be continuing security, 424 when "at maturity," 426 cheque is bill payable on, drawn on bank, 395 DEPOSIT RECEIPTS, negotiable, 458 DETENTION, of bill by drawee, 251, 304 DETERMINABLE FUTURE TIME, 33, 82, 90, 413 DILIGENCE, REASONABLE, in attempting to present for accept- in attempting to present for payment, 257 in attempting to present where drawee or acceptor dead, 262 in noting or protesting bill, 3C5 DIRECTORS, when personally liable on bill or note, 132-3, 159-164, 431 merger, 333 novation, 333 compensation or set-off, 339 prescription or Statute of Limitations, 341-9 by cancellation, 359 material alteration, 361 of accommodation bill, 351 of party liable, by waiver, 353-5 of surety, by dealing with principal, 355 of one part of a bill in set, 378 DISCOUNT OF BILL, 181-3 entitles discounter to collaterals, 182 discounter holder for full value, 183 DISCRETION OF COURT, as to costs on premature action, 307, 427 DISCREPANCY between figures and words, 78 DISHONOR, case of need in event of, 97 acceptance after, 106 after notice of, holder takes subject to defects, 186, 230 by non-acceptance, 249, 251 after two days, 250 recourse for, 251 unless acceptance unqualified, 253 |