Laws of Business for All the States of the Union And the Dominion of Canada : With Forms And Directions for All Transactions And Abstracts of the Laws of All the States On Various Topics
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In our eReader you can find the full English version of the book. Read Laws of Business for All the States of the Union And the Dominion of Canada : With Forms And Directions for All Transactions And Abstracts of the Laws of All the States On Various Topics Online - link to read the book on full screen. Our eReader also allows you to upload and read Pdf, Txt, ePub and fb2 books. In the Mini eReder on the page below you can quickly view all pages of the book - Read Book Laws of Business for All the States of the Union And the Dominion of Canada : With Forms And Directions for All Transactions And Abstracts of the Laws of All the States On Various Topics
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Then, the party liable on the note or bill can make none of these defences, unless the time or manner in which it came into the possession of the holder lays him open to these defences. But the law on this subject may better be presented in our next section.
SECTION V.
THE RIGHTS AND DUTIES OF THE HOLDER OF NEGOTIABLE PAPER.
I. What a Holder may do with a Bill or Note. — An indorsee has a right of action against all whose names are on the bill when he received it. And if one delivers a bill or ...note which he ought to indorse and does not, the holder has an action against him for not indorsing, or may proceed in a court of equity to compel him to indorse. If a bill comes back to a previous indorser, he may strike out the intermediate indorsements and sue in his own name, as indorsee ; but he has, in general, no remedy against the intermediate parties, because, if he made them pay as indorsers to him, they would make him pay as indorser to them. If, however, the circumstances are such that they, if compelled to pay, would have no right against him as an indorser to them, as, for example, if he indorsed it "without recourse," then he may have a claim against them.
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To quickly assess the difficulty of the text, read a short excerpt:
Then, the party liable on the note or bill can make none of these defences, unless the time or manner in which it came into the possession of the holder lays him open to these defences. But the law on this subject may better be presented in our next section.
SECTION V.
THE RIGHTS AND DUTIES OF THE HOLDER OF NEGOTIABLE PAPER.
I. What a Holder may do with a Bill or Note. — An indorsee has a right of action against all whose names are on the bill when he received it. And if one delivers a bill or ...note which he ought to indorse and does not, the holder has an action against him for not indorsing, or may proceed in a court of equity to compel him to indorse. If a bill comes back to a previous indorser, he may strike out the intermediate indorsements and sue in his own name, as indorsee ; but he has, in general, no remedy against the intermediate parties, because, if he made them pay as indorsers to him, they would make him pay as indorser to them. If, however, the circumstances are such that they, if compelled to pay, would have no right against him as an indorser to them, as, for example, if he indorsed it "without recourse," then he may have a claim against them.
What to read after Laws of Business for All the States of the Union And the Dominion of Canada : With Forms And Directions for All Transactions And Abstracts of the Laws of All the States On Various Topics?
You can find similar books in the "Read Also" column, or choose other free books by Theophilus Parsons to read onlineMoreLess
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