The Anderson intelligencer. [volume] (Anderson Court House, S.C.) 1860-1914, 1897-08-18
aMAergo,s SmteIlf4eMeee.
Business Methods.

When a check is printed, PAY to
----, or bearer and the word
Clearer is erased, no other person
can collect the check but the person
whose name appears written in the
blank space; but if it reads, "Pay to
---, OF order" then it becomes
negotiable without further indorsc-
mcnt when the party in whose favor
it is given writes his name on the re-
verso side. When you receive a check,
note or draft from a party, payable to
his order, before you accept it see that
it is properly Endorsed by him, as it
will be of no value to you until tits so
Endorsed.
When you receive a check, note or
draft from a person, for which, of
course, you give him something Of val
ue, even in case the paper does not read
payable to his order, has not been in
dorsed over to him, do not accept the
paper without his Endorsement; for,
in case it proves worthless, you will
have recourse on him. When he writes
his name on the back Of the paper, it
means, in law, that he guarantees pay
ment. For instance: John Smith
might come into your store and give
you a check for s25, drawn by Grover
Cleveland, which reads as follows:
"Pay to cash. or ''Pay to Benjamin
Harrison, or order" Harrison had
simply written his name, Benjamin
Harrison" on the back of the check;
then that check becomes negotiable,
and could pass through the hands Of
hundreds Of different firms without
another indorser; but suppose it falls
into the hands Of John Smith, who
comes to you to cash it. If you cash
it without having John Smith to write
his name IN the check, and it proves
worthless, you have no recourse
whatever on John Smith; yet he is
the one whom you accommodated.
A check payable "to cash" or "to
bearer" may also be transferred without
any endorsers; but for your own inter
est railways require the partyfrom whom
you receive a check, draft or note
to write his or her name on the back
of it.
When a check or draft proves worth
less, it generally takes the back track,
and goes back to the original drawer.
When such paper passes through your
hands on the back track, of course you
make it good to the person TO whom
you transferred it; but be careful to
erase your Endorsement when you sur
render it to the party from whom you
received it.
Some people, when they 60 to in
dorse a note o. check, write length
wise, crosswisc, or any other way.
You should first provided you are
right-handcd) pick up the check in
your right hand, so as to read the
face, turn it over toward you, and in
dorse on the top Of the back Tor, We
might term it, the left cnd). By in
dorsing at the other end, you give a
great deal Of trouble to bankers or
persons through whose hands it goes.
For instance, a person first takes a
check and reads the face, and then
turns it we toward himself; and, if
the endorser has signed the reverse
end, the person has to reverse ends in
order to see that it has been properly
Endorsed. One check, of course, would
not give the banker much trouble;
but if one-half Of the checks were>in-
dorsed in that way, in large banks
considerable time would be lost. When
you deposit checks in banks, simply
write your name in blank, bat always
write your name in one style.
Sight Drafts and Time Drafts
There is some difference in sight
drafts and time drafts. For instance,
you draw on Henderson Lumber Com
pany, Jefferson, Texas, at thirty days
sight. The time within which the
drawee is to pay this draft will not
begin to expire until it is presented
to, and accepted by, Henderson Lum-
Der Company, and acceptance dated.
They would accept thus, accepted