General Principles. A. B., etc.], hereby appeals from said order to the next Court of Sessions to be holden in said county. [Date.] [Signature.] CHAPTER XIV. BILLS OF EXCHANGE. A BILL OF EXCHANGE is a written order or request, whereby one person directs another to pay money. To render it negotiable, it should be for payment of a definite sum, to be paid absolutely, and at a certain time, and to the order of some person or to bearer. The person making and signing such a bill is called the Drawer; the person directed to make the payment is called the Drawee, and the person in whose favor it is made is called the Payee. Sometimes the Drawer and the Payee are the same person-that is, the bill is drawn payable to the Drawer's order. If the Payee of a bill writes his name upon the back of it, and transfers it to a fourth person, he becomes an Indorser, and the person thus taking the bill is termed the Indorsee. An indorsee may in turn become indorser, by transferring it in the same way. The person who at any given time has the right to the bill is termed the Holder. An indorsement in blank is where the indorser writes his name only on the back of the note; and it is a mere agreement to pay, on the usual conditions of demand and notice. If he wishes to transfer the bill without making himself liable, he should write before his name the words "without recourse;" or, if he indorses merely as agent to transfer the nominal title, he should add the word "agent" to his signature. ac In accepting a bill of exchange or draft, the acceptor writes the word " cepted," together with the date when accepted, and his own signature, across the face or on the back of the bill or draft. But the signature alone written across the face of the bill is sufficient to bind the writer as acceptor.(a) Foreign bills of exchange are usually drawn in several parts, the whole of each making up what is called a set. Commonly, the drawer delivers to the payee three bills of the same tenor and date; and each of these contains a condition that it is to be paid, provided the others remain unpaid; and all of them collectively amount to one bill, and a payment to the holder of either is good, and a payment of one of the set is payment of the whole. days after sight; or, $1,000. At sight [or, day of 18], pay to the order of [naming payee] one thousand dol lars, and charge the same to account of To Messrs. [naming drawee], NEW YORK, January 1, 1866. days after date; or, on the [Signature of drawer.] Philadelphia. (a) Spear v. Pratt, 2 Hill, 582. Bills of Exchange. Indorsements. 350. A Set of Bills. No. 592.—Ex. £1,000 Stg. NEW YORK, January 1, 1866. Sixty days after sight of this my first of exchange (second and third unpaid), pay to A. B. or order one thousand pounds sterling, value received, and charge the same to the account of To Messrs. E. F. & Co., Liverpool. No. 592.—Ex. £1,000 Stg. C. D. NEW YORK, January 1, 1866. Sixty days after sight of this my second of exchange (first and third unpaid), pay to A. B. or order one thousand pounds sterling, value received, and charge the same to the account of To Messrs. E. F. & Co., Liverpool. No. 592.-Ex. £1,000 Stg. C. D. NEW YORK, January 1, 1866. Thirty days after sight of this my third of exchange (first and second unpaid), pay to A. B. or order one thousand pounds sterling, value received, and charge the same to the account of To Messrs. E. F. & Co., Liverpool. 351. Indorsement to Order. Pay to the order of G. H. A. B. 352. Indorsement to Agents, for Collection. C. D. Pay to the order of the cashier of the First National Bank of New York, for collection. A. B. 353. Indorsement Without Recourse. Pay to the order of G. H., without recourse, A. B. 354. Indorsement by Attorney in Fact. Pay to the order of G. H. A. B., by M. N., his attorney. General Principles. CHAPTER XV. BILLS OF LADING. A BILL of lading is the written evidence of a contract for the carriage and delivery of goods sent by water, for a certain freight.(a) It is signed by the captain or master of the ship or vessel, and states, among other things, by whom the goods are shipped, and where and to whom they are to be delivered. There are generally three or more parts or copies of the instrument; one of which is usually sent to the consignee by the ship which carries the goods; another is sent to him by some other conveyance, and a third is kept by the merchant or shipper. Contracts for the freighting of goods must have all these essential qualities, or else they cannot have the effect of bills of lading.(b) Signature by the owner of the vessel may, however, be sufficient.(c) In respect to the agreement to carry and deliver the goods, the bill of lading is a contract, to be construed, like all other written contracts, according to the legal import of its terms, and it may not be varied by parol evidence.(d) The receipt embodied in it is not, however, conclusive, and does not preclude the carrier from showing what was the actual quantity put on board ;(e) nor does the ordinary admission in the bill of lading that the goods were received in good order, preclude him from showing the true condition of the property at the time of shipping.(f) The common-law liability of the carrier may be qualified by express agreement of the parties embodied in the bill of lading.(g) 355. Bill of Lading. SHIPPED, in good order and well-conditioned, by [name the consignor of the goods], on board the [describe vessel] called the [name vessel], whereof M. N. is master, now lying in the port of and bound for the port of , [here designate the merchandise], being marked and numbered as in the margin, and are to be delivered in the like order and condition at the port of (the dangers of the seas only excepted),(h) unto [name of consignee], [Copy the marks of the packages in the margin here.] (a) Mason v. Lickbarrow, 1 H. Blackst., Chase, 1 E. D. Smith, 115; The Same v. 857. (b) Covill v. Hill, 4 Den., 323; Holbrook v. Vose, 6 Bosw., 76. (d) White v. Van Kirk, 25 Barb., 16. (e) Wolfe . Myers, 8 Sandf., 7; Nelson v. Stephenson, 5 Duer, 538. Calebs, 20 N. Y., 173. (h) The clause, "the dangers of the seas excepted," does not affect the ques not. (c) Dows v. Greene, 24 N. Y., 638; 32 tion whether freight has been earned or Barb., 490. Its effect is only to exempt the carrier from liability to pay for the cargo when lost through the dangers of the seas. And unless there is an express agreement to the contrary, freight paid in advance may be recovered back, if the voyage is not performed, although prevented by the dangers of the seas, and (g) Mercantile Mutual Insurance Co. v. without fault. Phelps v. Williamson, 5 (f) Price v. Powell, 3 N. Y. (3 Comst.), 322; Ellis v. Willard, 9 N. Y. (5 Seld.), 529; White v. Van Kirk, 25 Barb., 16; Meyer v. Peck, 83 lb., 522. Bills Sale. with or to his [or their] assigns, he or they paying freight(i) day of 18 [Signature of Master.] CHAPTER XVI. BILLS OF SALE. A BILL of sale is a formal written conveyance of personal property. If the property is delivered when sold, or if a part of the purchase-money is paid, a written instrument is not necessary to make the conveyance binding, but it is convenient evidence of title. Making a bill of sale, however, is not enough, without delivery of the property, to protect the purchaser against the creditors of the seller. If the sale is not accompanied by an actual and continued change of possession, it is void as against creditors, and subsequent purchasers and mortgagees in good faith, unless the buyer can show that his purchase was made in good faith, without any intent to defraud them, and that there was some good reason for leaving the property in the hands of the seller. 856. Bill of sale describing the chattels.... 857. Bill of sale of a horse, with warranty. PAGE 168 168 858. Bill of sale, referring to a schedule annexed, for an enumeration of the goods 164 359. Schedule annexed to the foregoing bill of sale..... 164 360. Bill of sale where a schedule is to be subsequently made.. 164 861. Declaration of symbolical delivery which may be inserted.. 165 362. Another form; by indorsement on the bill of sale............... 165 363. Bill of sale in consideration of the assignee's agreeing to maintain the assignor for life.. 165 864. Bill of sale of a registered vessel of the United States.. 166 167 167 168 169 Sandf., 578; S. C., 10 N. Y. Leg. Obs., tect the master, and not for the benefit of 272. Injury to the goods by rats on board ship is not within this clause. Aymar v. Astor, 6 Cow., 267. (i) The effect of this clause in respect to payment by the consignee, is to pro the consignor. In case of the carrier's neglect to collect the freight from the consignee, it does not exonerate the consignor from liability therefor. Shepard . De Bernales, 13 East., 565; Jobbitt v. Goundry, 29 Barb., 509. Common Forms. 356. Bill of Sale Describing the Chattels. KNOW ALL MEN by these presents, that I, A. B., of in the county of and State of farmer, party of the first part, in consideration of the sum of dollars, (a) to me paid by Y. Z., of aforesaid, merchant, party of the second part, the receipt whereof I do hereby ac knowledge [or state other consideration-e. g., thus: in consideration of the sum of dollars, to me to be paid by Y. Z., of, etc., in equal quarterly instalments, secured by his notes at three, six, nine, and twelve months respectively], have bargained, sold, granted, and conveyed, and by these presents do bargain, sell, grant, and convey unto the said party of the second part, his executors, administrators, and assigns [here set out the chattels sold-e. g., thus:] all the hops growing on my farm in said town, one yoke of oxen, red and white, heretofore on said farm, and one bay horse, with farm-wagon and harness, now in the keeping of M. N., at To have and to hold the same unto the said party of the second part, his executors, administrators, and assigns, forever. And I do for myself, my heirs, execu tors, and administrators, covenant and agree, to and with the said party of the second part, to warrant and defend the said described goods hereby sold, unto the said party of the second part, his executors, administrators and assigns, against all and every person and persons whatsoever.(b) IN WITNESS WHEREOF, I have hereunto set my hand and seal, the of 357. Bill of Sale of a Horse, With Warranty. KNOW ALL MEN by these presents, that I, A. B., of tion of the sum of day A. B. [Seal.] in the county farmer, party of the first part, in consideradollars, to me paid by Y. Z., of aforesaid, merchant, party of the second part, the receipt whereof I do hereby acknowledge [or state other consideration], have bargained, sold, granted, and conveyed, and by these presents do bargain, sell, grant, and convey, unto the said part of the second part, his executors, administrators, and assigns, one sorrel horse, with white forehead, known as Charley; to have and to hold the same unto the said party of the second part, his executors, administrators, and assigns, forever. AND I Do hereby warrant the said horse to be sound in every respect, to be free from vice, to be well broken, and kind and gentle in single and in double harness, and under the saddle: AND I DO for myself, my heirs, executors, and administrators, covenant and agree, to and with the said party of the second part, to warrant and (a) It is not, in general, essential to state a consideration. In MARYLAND and LOUISIANA, however, the true consideration should be stated; and in MARYLAND the bill must be verified by an affidavit. See chapter of ACKNOWLEDGMENT AND (b) As to other special covenants, see the chapter on Covenants. |