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النشر الإلكتروني

HOLDER, Continued.

is prima facie a holder in due course, 198
negotiation of bill to transferee as, 206
negotiation of bill to order to, 208

transferring bill to order without indorsement, 209
when usurious bill void in hands of, 202

may sue on bill in his own name, 232

general duties as to presentment, 240, 254, 257
notice of dishonor enures to benefit of others, 275
noting or protest of inland bill by, 297

when holder becomes transferrer by delivery, 327
receiving payment in due course, 332
when bill is discharged by acceptor being, 352
may renounce rights against acceptor, 353

any party to bill, 355
may discharge bill by cancellation, 359

any party by cancelling his signature, 359
cancellation without authority of, is inoperative, 360
may claim duplicate of lost bill, 374
rights of holders of different parts of set, 378
may cross a cheque generally or specially, 408
"not negotiable," 408
entitled to expenses of noting and protesting, 440
duties of, may be waived by drawer or indorser, 97-8

not to take qualified acceptance without authority, 253
general duties of, as to presentment, 240
to present for acceptance, 124

or to negotiate, 243
to allow drawee two days and no more, 250
to present bill for payment, 254, 257
even if dishonor expected, 265

to give notice of dishonor, 270, 273

to protest inland bill in Quebec, 297

foreign bill for non-payment, 299
should exhibit bill on demand of payment, 309
rights of, are determined by the law of the place, 389
when may treat bill as an inland bill, 55
may date undated bill or acceptance, 85
may resort to referee in case of need, 97
sight draft accepted as of first presentment, 106-7
may enforce bill against parties not incapacitated, 136
deriving title through a holder in due course, 196
may convert blank into special indorsement, 220

HOLDER, Continued.

may sue on bill in his own name, 232
may refuse to take a qualified acceptance, 253
against drawer and indorsers on dishonor, 251
on dishonor by non-payment. 269

when may protest for security, 301

of unaccepted cheque as against the bank, 403
of crossed cheque no greater than prior holder, 411
HOLDER FOR VALUE, when holder is deemed to be, 179-80

holder having lien is deemed to be, 180
accommodation party is liable to, 184-6
warranty of transferrer by delivery to. 329
rights of, in negotiable instruments, 454
of debentures protected, 456


protected if wrong date inserted in good faith, 86
bill is improperly filled up, 116-9
valid delivery to, conclusively presumed, 121
defined, 186

every holder deemed to be, 198

protected as to note for a patent right, 203
holds bill free from defects, 235, 239

may enforce payment against all parties liable, 236
when protected without notice of dishonor, 272
estoppel of acceptor as against, 313-5

drawer as against, 316

indorser as against, 317

stranger signing bill liable as indorser to, 319

not affected by renunciation without notice, 355

if alteration not apparent, may enforce as before alteration, 361

of part of set with acceptance, may enforce it, 378

estoppel of maker of note as against, 431

when drawee of cheque entitled to rights of, 450

HOLIDAYS, what days are, for bills, 90-3

last day of grace falling on, 90
for the whole Dominion, 91

additional, in Quebec, 92

in England, 92

in the United States, 93

are "non-business" days, 438

HONOR, acceptance for, 366-371-See Acceptance for Honor
payment for, 371-4-See Payment for Honor

notarial act of, 372-3, 473

HOUR, presentment should be at reasonable, 246

rules for presentment for payment, 257-8
protest after three in the afternoon, 302
HUSBAND AND WIFE-See Married Woman
ILLEGAL CONSIDERATION, a defect in title, 190

what is, 194

illustrations of, 195-6

overdue bill for, 226

IMMEDIATE PARTIES, delivery as between, 121

who are, 122

IMPRISONMENT for breach of "patent right" provisions, 204
INCHOATE INSTRUMENT, signature on blank paper, 114
holder may fill up blanks, 114-6

must be filled up in reasonable time, 116

and in accordance with authority given, 117-9
in hands of holder in due course, 117, 119
promissory note, until delivered, 421
INDEMNITY, in action on lost bill, 375

defendant should demand, on lost bill, 375
is not required if bill is not negotiable, 376

INDORSEE, when he need not indorse, 74

of "patent right" bill, takes subject to equities, 203
if two or more, all must indorse, 214

transfer of part of bill to, invalid, 214

rule as to mis-spelling or wrong designation of, 215
payment to, contrary to condition is valid, 217
blank indorsement specifies no, 219

provisions as to payee apply to, 220

restrictive, takes subject to restrictions, 224

INDORSEMENT, must be completed by delivery, 29, 119

may be on any part of bill or on allonge, 29, 211, 213
blank, makes bill payable to bearer, 72

of overdue bill, effect of, 82

date of, deemed true date, 87

by infant, etc., gives rights to holder, 136

right of drawee of cheque paying on forged, 146, 450

of bill payable to order, 208

of notarial note in Quebec, 208

transfer for value without, 209
requisites of a valid indorsement, 211

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without personal liability,
agreement to indorse is not an, 212

on allonge or copy of bill, 213

must be of entire bill, 213

must be by all payees or indorsees, 214
when payee or indorsee, wrongly designated, 215
when name of payee or indorsee mis-spelt, 215
suggested modes of indorsement, 216
order of, on bill deemed proper order, 216
may be in blank, or special, or restrictive, 217
conditional, may be disregarded by payer, 217
what is indorsement in blank, 219

what is special, 219, 220

holder may convert blank into special, 220
holder may strike out blank, 221

what is restrictive, 222

examples of restrictive, 223

rights given by restrictive, 224

rights of indorsee under restrictive, 224

negotiability of bill stopped by restrictive, 225

of overdue bill, effect of, 225

undated, presumed before overdue, 230

demand bill presented within reasonable time after, 255

presentment for payment excused as to accommodated indorser, 267
estoppel of acceptor as to any prior, 317

validity of bill at time of, 318

pour aval, 319
transferrer by delivery negotiates without, 327
of more than one part of a set, 377
interpreted by lex loci contractus, 383

of inland bill abroad governed by law of Canada, 388
demand note presented within reasonable time after, 424
if given as collateral security not necessary, 424

INDORSER of overdue bill, liability of, 82

may name referee in case of need, 97

may negative or limit his liability to holder, 97
may waive holder's duties as to himself, 97-8
may indorse" without recourse," 98

blank signature for bill may be used for that of, 114
contract of, incomplete until delivery, 119
delivery must be authorized by, 121

if bill not in possession of, delivery presumed, 121-2
when corporation may be, 124


rights to holder, through minor or corporation as, 136
only those who sigh as, liable as such, 138
adding words indicating representative character, 159
prior, may re-issue bill negotiated back, 231

cannot enforce payment against intervening party, 231
discharged by non-presentment for acceptance, 244
entitled to notice of non-acceptance, 250
liable to holder on dishonor by non-acceptance. 251
when discharged by qualified acceptance, 253
must express dissent from qualified acceptance, 254
discharged by non-presentment for payment, 254
liable to holder on dishonor by non-payment, 269
notice of dishonor must be given to each, 270
notice by holder benefits prior indorsers, 275
notice by, benefits subsequent indorsers, 275
notice to representative of dead, 280
when not entitled to notice of dishonor, 295
discharged by non-protest of Quebec inland bill, 297
foreign bill, 299
acceptor admits capacity of payee to indorse, 314-5
drawer admits capacity of payee to indorse, 316
liability of, on bill, 317

estoppel of, 317

person signing not as drawer or acceptor liable as, 319
pour aval, 319

compelled to pay may recover damages, 324, 326

payment by, does not discharge bill, 349

rights of, who pays bill, 349

when discharged by cancellation, 359
alteration does not discharge subsequent, 361

on each part of set liable, 377
liability of, when laws conflict, 384

liable only if note presented for payment, 429

at proper place, 430
first indorser of note corresponds to drawer of bill, 432
INFANT, see Minor

INFORMAL BILL, ambiguous, may be treated as either bill or note, 34
if in blank or incomplete, how to be filled up, 114
illustrations of, 36, 43, 47, 48, 116

INITIALS, sufficiency of, as a signature, 40

of drawer required to uncross a cheque, 409

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