The Pacific commercial advertiser. [volume] (Honolulu, Hawaiian Islands) 1885-1921, 1886-04-08
DIGEST OF HAWAIIAN LAWS.
BY M. Thompson, OF the HOnOIuIu
Bar.

NorAR1Es PUBLIC, Law MERCHANT,
BILLS AND NOTES, Ere.
A promissory note is written prom
Use to pay certain sum OF money at |
future time Internationally; w. q y, |
264; l Wend., 675; Ala, 263; Mo-, |
40; 6 n. H., 364. An unconditional
written promise, signed by the maker,
to paw absolutely and at all events sum
certain in money, either to the bearer,
or to a person therein designated or his
order; Benz. Chal. Bills, etc, Art. 27l.
A promissory note differs from a mere
acknowledgment of debt without any
promise to pay, as when the debtor
gives his creditor an [. o. u; 4erg.,
so; Is NJ. & w, %. But see Humph.,
I43; 6 Ala. n. s., 373. In its form it
usually contains a promise to pay, at
time therein expressed, sum OF money
to a certain person therein named, or to
his order, for value received. 1t Is dated
and signed by the maker. 1t is never
under seal @ Hun, 981), even when
made by corporation 10 Wend., 265;
8 Fed. Rep, 4O8. But see L. R., 3 Oh.
Ap., 758. No particular form OF words
is necessary, but there must be an inten-
ton to make a note; 10 NJ. q W., 20;
Benz. Chain. Bills, etc, 274.
10. u. in common law, is a memo
randum of debt in use among merchants.
| It is not a promissory note, as 1t contains
no direct promise to pay; Carr. & T.,
1924; l Esp, 426; Pars. Bills and Notes;
Int If words are superadded to the ac-
acknowledgement from which an intention
to accompany it with an engagement to
pay may be gathered, it will be construed
as a promissory note; l Daniel Neg.
Inst, 80.
The word promise" is not sacra-
mental in promissory note. 1t is
enough if the note contain legal prom.
sum, and that the maker and payee be
designated with sufficient certainty
Meyer VS.. We'll, % Reporter (Boston),
334. The following obligation was held
to meet all legal exigences in that re-
| spect, and made the instrument an I'M
l )
and was promissory note: February
81, 1888. This is to certify that l am to
pay to Joseph Meyer the sum of three
thousand dollars on the first day of Feb
ruary, 1884, said sum being agreed upon
as per contract signed before G. M. Bar
row, Clerk, this day. and being his in
terest in the property of the store 81
Simon We'll, upper store. (Signed)
Simon We'll" See ID. and authorities.
He who makes this promise is called
the "maker," and he to whom it is made
is the payee; Kent, AS. A writing in
the form of note payable to the makers
order becomes a note by Endorsement
% Penn, 49, Although a promissory
note in its original shape bears no re-
! semblance to a bill of exchange, yet
when indorsed it is exactly similar to
one; for then it is an order by the in
dorser OF the note upon the maker to
pay the indorsee. The indorser is, as it
were, the drawer; the maker, the ac-
ceptor; and the indorsee, the payee; 4
Burr, $50; Tenn, AS.
In Good VS. Martin, 90 U. S., 80, the
Court " distinctly held, % that if a third
person put his name in blank on the
back of note at the time it was made,
! and before it was Endorsed by the payee,
to give the maker credit with the payee,
or if he participated in the consideration
| of the note, he must be considered as a
| Joint maker; (2) but if his Endorsement
was subsequent to the making of the
note, and to the delivery of the same to
take effect, and he put his name there at
the request of the maker pursuant to a
contract OF the maker with the payee for
| further indulgence or fOrbearance, he can
only be held as guarantOr; 90 if the note
was intended for discount, and he put his
name on the back of it with the under
! standing of all the parties that his in
dorsement would be imperative until the
! instrument was Endorsed by the payee,
: he would then be liable only as a second
| indorser, in a commercial sense. Says
Mr.. Justice Clifford, speaking for the
| Court: Where the Endorsement is in
blank. if made before the payee, the La
biIitv must be either as an original prom
issor or guarantor; and parol proof is
admissible to show whether the indorse-
ment was made before the Endorsement
OF the payee, and before the instrument
was delivered to take effect, or after the
pavee had become the holder of the
same; and if before, then the party so
indorsino the note NAV be charged as an
original promissor; but if after the payee
became the holder, then such party can
only be held as guarantor, unless the
terms of the Endorsement show that he
intended to be liable only as second
indorser, in which event he is entitled to
the privileges accorded to such an in