72. Are share certificates negotiable?

73. Is a certificate of deposit negotiable?

74. Is a check payable through the clearing house negotiable?

75. Is a check negotiable if it states on its face that the bank book must accompany it?

76. Are receivers' certificates negotiable instruments?

77. If an installment of interest is unpaid, would it render a note non-negotiable even though the principal is not due?

78. Is a bond negotiable if it has a blank line for place of payment, but never filled in by anyone with authority?

79. Is a railroad or municipal bond negotiable if they contain conditions?

80. Is a note negotiable if it authorizes the sale of collateral securities in case the instrument should not be paid at maturity?

81. Is a note negotiable if it authorizes a confession of judgemet if the instrument should not be paid at maturity?

82. Is a note negotiable if payable by stated installments?

83. Is a note negotiable if payable by stated installments, with a provision that upon default in payment of any installment or of interest, the whole shall become due?

84. Is a note negotiable if payable with interest? 85. Is a note negotiable if payable in current funds?

86. Is an instrument negotiable if payable upon some contingency?

87. Is a note negotiable if payable with exchange, whether at a fixed rate or at the current rate?

88. Is a note negotiable, with costs of collection or an attorney's fee, in case payment shall not be made at maturity?

89. What is the liability of a maker of a negotiable instrument?

90. What is the liability of a drawer of a bill ?

91. What is the liability of an acceptor of a bill? 92. What is the liability of an accommodation indorser?

93. What is the liability of a person signing a negotiable instrument in a trade or assumed name? 94. What is the liability of a person signing a negotiable instrument as agent?

95. How should an agent indorse commercial paper for a corporation?

96. If a note is indorsed "without recourse what is the liability of the indorser?

971 Does an endorser of a non-negotiable note incur any liability?

98. If an instrument containing these words "I promise to pay " is signed by two or more persons, what is their liability?

99. If a note is signed "Henry Brown, Assignee " would he be personally liable?

100. What is the status of negotiable paper made by a minor?

101. Is the negotiable paper of a person non compos mentis binding?

102. Is a secret partner liable on a partnership

note?

103. Is a nominal partner liable on a partnership

note?

104. Is an ostensible partner liable on a partnership note?

105. Is a new partner liable on old notes of the firm?

106. Can a partner bind the firm by making a joint and several note?

107. Is a firm liable to a bona fide holder, if a note appears to have been signed as surety?

108. If a partner issues fraudulent commercial paper, will the partnership be liable?

109. If a bill be drawn on a partnership, and accepted by one partner in his own name for partnership purposes, will it bind the firm ?

110. If the partnership does not require the giving of notes, would the firm be bound?

111. What is the authority of officers of corporations to issue commercial paper?

112. What is the liability of a corporation as an indorser of commercial paper?

113. Has a corporation the right to make or indorse accommodation paper?

114. What is the liability of a corporation as an accommodation indorser?

115. How should promissory notes be executed so as to bind the corporation?

116. If a bill of exchange is drawn in a set and numbered, does each constitute a bill, or does the set constitute but one bill?

117. If the holder of a set of exchange indorses two or more parts to different persons, is he liable on each part?

118. What is the proper way to accept a set of exchange?

119. If the acceptor of a bill drawn in a set pays it without taking up the part bearing his acceptance, would he be liable to the holder thereon ?

120. If any one part of a bill drawn in a set is discharged, what is the effect upon the other parts ? 121. What constitutes a sufficient presentment for payment?

122. Must an instrument be exhibited when presented for payment?

123. If an instrument is payable at a certain time, when must presentment be made?

124. If an instrument is payable on demand, when must presentment be made?

125. How should presentment for payment be made to persons liable as partners?

126. When will a presentment for payment not be required to charge the indorsers?

127. How should presentment for payment be made to joint debtors?

128. How should presentment be made when an instrument is payable at bank?

129. When is an instrument dishonored by nonpayment?

130. When must notice of dishonor be given? 131. To whom must notice of dishonor be given ? 132. Where must notice of dishonor be sent? 133. By whom may notice of dishonor be given? 134. What form of notice of dishonor may be given?

135. How should notice of dishonor be given? 136. How should notice of dishonor be given to partners?

137. How should notice of dishonor be sent to parties residing in the same place?

138. How should notice of dishonor be sent to parties residing at different places?

139. May notice of dishonor be waived?

140. May protest of negotiable instruments be waived?

141. What parties will be affected by waiver of notice?

Negotiable Instruments.

Questions.

1. By negotiable instrument is meant, paper that can be transferred from one person to another for valuable consideration, either by indorsement, assignment, or by delivery, so that the transferee or holder may sue the same in his own name as if it had been made to him originally.

2. There are several kinds of negotiable paper, the most important of which are promissory notes, bills of exchange (commonly called drafts), checks, bonds, bank notes, certificates of deposit, bills of lading, etc.

3. A promissory note is an unconditional written promise, signed by the maker, to pay a specific sum of money at a certain time, either to the bearer or to a person therein designated, or his order.

4. There are four kinds of promissory notes in general use, called individual, joint and several, and bank notes.

5. An individual note is one in which but one person makes the promise to pay.

6. A joint note is one in which the promise is made jointly by two or more persons. It means that they

will all join in paying it.

7. A joint and several note is one in which the promise is made jointly and severally by two or more persons. In a joint and several note, each signer assumes the whole responsibility. It means that if the payment is not made jointly it must be made severally.

8. An accommodation bill or note is one for which the acceptor or maker has received no consideration, but has loaned his name and credit to accommodate the drawer, payee or holder. He is not bound to the party whom he thus accommodates, but he is bound to

all other parties, precisely as if there were a good consideration, otherwise it would not be an effectual loan of credit.

9. A bill of exchange or draft is an unconditional order in writing addressed by one person to another, signed by the person giving it, requiring the person to whom it is addressed to pay on demand or at a fixed or determinable future time, a certain sum of money to order, or to bearer.

10. A bill of exchange is foreign when it is drawn in one state and payable in another. The same is true between different countries.

11. An inland bill of exchange is one which is both drawn an payable in the same State.

12. The maker is the party who makes the promise and signs the note; the payee is the party to whom the promise is made. In addition to the original parties to a bill or note, there are or may be an indorser who directs the amount of the bill or note to be paid to a person named in the instrument, or to his order, or to bearer; the indorsee is the person to whom the amount is ordered to be paid by the indorser; and the holder is the person having the legal possession of the instrument and who is entitled to recover the amount of the same.

13. The drawer is the party who makes the order; the drawee is the party to whom the order is directed; the acceptor, or the drawee is the one who assents to the order and thus becomes principal debtor, and the payee is the party in whose favor it is drawn.

14. A bill or draft must contain an order, the order should appear to be the demand of a right, rather than a request for a favor.

15. A note must contain an unconditional promise. The promise must be absolute and for the payment of a certain sum of money, at a certain time. The note must be specific as to all the parties, and must be delivered.

16. A bill of itself does not operate as an assignment of the funds in the hands of the drawee.

drawee is not liable until he accepts the bill.

The

17. If the drawer and drawee of a bill are the same person, or if the drawee be a fictitious person, or one without authority to contract, the holder may treat