A Complete Arithmetic: Uniting Mental And Written Exercises in a Natural ...
A Complete Arithmetic: Uniting Mental And Written Exercises in a Natural ...
Emerson Elbridge White
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A Promissory Note is a written agreement by one party to pay to another a specified sum at a specified time. The sum whose payment is promised, is called the Face of the note. The pei-son who signs a note is called its Maker; the person to whom it is payable is the Payee; and its owner is the Holder. Digitized by Google PROMISSORY NOTES. 199 320. A Joint Note is a note signed by two or more persons who are jointly liable for its payment. 321. A Joint and Several Note is a note signed by two or ...more persons who are both jointly and singly liable for its payment. 322. An Tndorser is a person who signs liis name on the back of a note as security for its payment. 323. The following are the more common forms of pro- missory notes : FORM I.— Demand Note. $95rVV- Nashville, Tenn., May 1, 1870. For value received, I promise to pay to John Wilson, on demand, Ninety-five j%\ Dollars, Henby Smith. [ STAMP.] FORM II.— Time Note. $9o^jjV St. Louis, Mo., May 1, 1870. Ninety days after date, I promise to pay to John Wilson, or bearer, Ninety-five -^^ Dollars, with interest, for value re- ceived.
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