The Law of Bills, Notes And Checks
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See notes Sec. 39.
124 KTEGOTIABLE INSTKUMBNTS LAW f w Birmingham Trust & savings Co.eia iBfRMINGHAM.ALA VarroTUB OBDEBOF ..-■^K^ "^^'-y C/^^h^Sa.
(/iVZ?Oi25£Z?) PAY TO MRS. EMMA BROOKS UNION IRON WORKS B. B. SHEPARD, MGR.
EMMA BROOKS CHARLES F. CAREY The above indorsement by B. B. Shepard, Mgr., is proper if so authorized by the Union Iron Works, but without knowledge the paying bank should investigate the authority of Shepard to so indorse. The indorsement of "Emma Brooks" without prefixing t...he Mrs. is immaterial.
§ 75. Time of indorsement; presumption. Except where an indorsement bears date after the maturity of the instru- ment, every negotiation is deemed prima facie to have been effected before the instrument was overdue.
Upon the trial the plaintiff produced the note, proved the indorsement of the payee and the signature of the maker and introduced it in evidence.
Thus, the plaintiff established prima facie that it became the owner of the note before it became overdue, in good faith and for value and without notice of any infirmity in the instrument.
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To quickly assess the difficulty of the text, read a short excerpt:
See notes Sec. 39.
124 KTEGOTIABLE INSTKUMBNTS LAW f w Birmingham Trust & savings Co.eia iBfRMINGHAM.ALA VarroTUB OBDEBOF ..-■^K^ "^^'-y C/^^h^Sa.
(/iVZ?Oi25£Z?) PAY TO MRS. EMMA BROOKS UNION IRON WORKS B. B. SHEPARD, MGR.
EMMA BROOKS CHARLES F. CAREY The above indorsement by B. B. Shepard, Mgr., is proper if so authorized by the Union Iron Works, but without knowledge the paying bank should investigate the authority of Shepard to so indorse. The indorsement of "Emma Brooks" without prefixing t...he Mrs. is immaterial.
§ 75. Time of indorsement; presumption. Except where an indorsement bears date after the maturity of the instru- ment, every negotiation is deemed prima facie to have been effected before the instrument was overdue.
Upon the trial the plaintiff produced the note, proved the indorsement of the payee and the signature of the maker and introduced it in evidence.
Thus, the plaintiff established prima facie that it became the owner of the note before it became overdue, in good faith and for value and without notice of any infirmity in the instrument.
What to read after The Law of Bills, Notes And Checks?
You can find similar books in the "Read Also" column, or choose other free books by James Lucius Whitley to read onlineMoreLess
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