The Elements of Mercantile Law
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Jadis, 1 Moody & E. 247. If there are intermecfiate indorsements between the payee and the defend- ant, these need not be stated ; but the plaintiff may state in his declaration that the payee indorsed to the defendant. Chaters v. Bell, 4 Esp. 210.
" Curry v. Bank of Mobile, 8 Porter, 360. .
[140] OH. IX.] NEGOTIABLE PAPER. *126 fer it by delivery, and it needs not his indorsement to make it negotiable further.^ A transfer by delivery, without indorsement, of a bill or note payable to bearer, o...r indorsed in blank, does not generally make the transferrer responsible to the transferree for the payment of the instrument. Nor has the transferree a right to fall back, in case of non-payment, upon the transferrer for the original con- sideration of the transfer, if the bill were transferred in good faith, in exchange for money or goods ; for such transfer would be held to be a sale of the bill or note, and the purchaser takes it with all risks.2 But it seems not to be so where such a note is delivered * either in payment or by way of security for a pre- viously existing debt.^ Then, if the transferrer has lost nothing by the reception of the note by the transferree, because if he had continued to hold the note, he would have lost it, there seems to 1 See night v.
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To quickly assess the difficulty of the text, read a short excerpt:
Jadis, 1 Moody & E. 247. If there are intermecfiate indorsements between the payee and the defend- ant, these need not be stated ; but the plaintiff may state in his declaration that the payee indorsed to the defendant. Chaters v. Bell, 4 Esp. 210.
" Curry v. Bank of Mobile, 8 Porter, 360. .
[140] OH. IX.] NEGOTIABLE PAPER. *126 fer it by delivery, and it needs not his indorsement to make it negotiable further.^ A transfer by delivery, without indorsement, of a bill or note payable to bearer, o...r indorsed in blank, does not generally make the transferrer responsible to the transferree for the payment of the instrument. Nor has the transferree a right to fall back, in case of non-payment, upon the transferrer for the original con- sideration of the transfer, if the bill were transferred in good faith, in exchange for money or goods ; for such transfer would be held to be a sale of the bill or note, and the purchaser takes it with all risks.2 But it seems not to be so where such a note is delivered * either in payment or by way of security for a pre- viously existing debt.^ Then, if the transferrer has lost nothing by the reception of the note by the transferree, because if he had continued to hold the note, he would have lost it, there seems to 1 See night v.
What to read after The Elements of Mercantile Law?
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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