The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1897-06-15

that u, "oFler" or Denver
seventh-What Is tho contract OF an
lndorser?
Answer-He contracts that the In
strumeht win be paid; that the body Of
the note h genuine and not forgnd or
altered; that the drawer or maker II a
bonn flde pefsnn and competent to
make the instrument; that the acGeptoF
b competent to accept and the payee to
Hunsier: IN short. he o. KS the note
to all Succeeding him. He further cor-
tracts that IN case OF failure OF pay
mene Of the instrument at maturity,
that he will pay the amount to any one
tracng title through him, or for whose
benefit he has endorsed. provided the
requisites OF protest. notice, ETC., have
been complied with.
Elahth-What Is the contract OK
guarautor?
AnSwer-A gu1rantor contracts that
he viii be the instrument In case the
parties primarily liable for the sama
will not do so, the distinction between
the endorser's contract and the guar
nntors being that the latter Is not IL
able until after the holder OF the instru-
meut has exhausted his legal remedies
against primary parties and Is unable
to recover by suing them.
Nlnth-What Is the distinction be-
tween q negotiable instrument and one
Whtch IS merely asSignable?
Answer--When q party recslves a me-
Rntiable instrument bona tde. for val
ne. ana In due course OF business before
maturity the parties to such instru-
ment are stopped from setting up any
set-0tTs, or defenSes. tunieas . ui-
Tense that renders the instrument abao-
iuteIy vnld) and the holder can recover
80 ~
negoti1ble instrument Is simply put In
the shoes OF his assignor and takes, sub
feet to AL existing equities: he brings
chose In action. IN other words, for
what Il Is worth
Tenth-An infant executes n negotl-
able instrument which comes into the
hands OF an innocent holder for value
before maturity Is such an tnatru-
1ent in The hands Of such \ holder vail
I'd, or Il x VOldAhle or Void2
AnsWeC--It was once held that an IN
fants negotiable instrument was void,
but think the tendency now 10 70
bold II voIdable; that is, he can ratiiy
u after cominH Of age. though not
while he IS an infant But In this case.
the instrument maturing before he Is OF
age the Innocent holder would have no
remedy against the infant unless the
instrument vas given for necess3ries'
ia which case he could recover the value
OF those neceSgaTIes, but not the race
OF the instrument II that was more.
E,leyeuth-What Is meant by the
right OF stoppage in tranSitu and
when may Il be eXercised2
AnsWer-A right OF stoppage In Trans
itu Il the right which seller Of goods,
who has delivered them 10 carrier
for transmission to a buyer, and has
thus given up his lien, has to order the
carrier to return them to him oad not
deliver them. in case the buyer has pc
cnune insolvent. In other words the
insolvency OF the buyer restores tAe ser
ler's lien n he can reach the goods IN
dime. II may De exercised at any time
before delivery to buyer by carrier. or
before carrier has without notice at
formed TO buyer and holds as bailee, or
has unwarrantably refused 20 deliver
~ buver. but Il can not be exercised
when the buyer has transferred a bill
Of IadinE representing the goods. IN his
possessiou BY agreement OF seller, to
\ bona iide trausferee for value aad
without notice.
Tweltth--A. IN ST Louis roFWarded
by mall TO h IN Chicago.a letter propos-
Ing 10 sell b. car load Of hogs at
nrice named. b. Immediately upon the
receipt OF AS letter wrote ana signea
an answer accepting the proposal but
heSors Such answer was mailed. receiY-
cd n telegram from 4. withdrawing the
proposal. UudeT these circumstances;
was there n contract 70 which y. could
hold A? Give reasons.
Answer-No. A. could withdraw MS
offer. since he received no conaideralIoh
for keeping 1t open, at any time before
acceptance. He had made the mail his
agent 10 carry the proposal; hence. as
srun aS 3. mails q letter OF acceptance
Il becomes binding on A.. since the man
IS considered his agent Cor that pur-
pose. But the mere signing OF an acr
ceptance by j. Is in no way blndlng on
A., since there Is no mutually In the
contract, and the receipt of the tele-
gram before the answer ~ maliea y Il
parfectly good withdrawal OF the otier.
Thirteenth-WheTe vendor IS indue:
ed 10 make a sale OF goods by the fraud
OF the vendee. what are the remedies OF
the vendor, the goods being stu IN the
possession OF the vendee2
Arswer-He may rescind the contract
and recover the goods; or treat the con-
tract az valid and sue on the same for
the contract price: or treat the vendee
as a conversloner and sue for dam
ages.
FOtifteenth-A. sold on CTeult anu DC"
lIyered to y. certain goods; but oetors,
payment was made. A. Wrongiuily ana
by force took back the goods into his
nosscssion. Can A. under such circum'
stances maintain an action against D.
for the purchase price?
Answer-As b. has perfectly good IT,
tie TO the goods. think A. would be In
the position OF any other wronE-doer
and II. could maintain an action OF re-
pleyln or conversion against him for
The same, a. could maintain an action
FOR the purchase price in spite OF his
wrong doing.
Flfteenth-A. bought on a credit OF
three months from b. ten barrels OF
flour. The flour remained In BIS store
but was set apart from the other goods
Before A. called for the -four, the store
and contents we're destroyed by IRE
on whom did the loss fall, A. or %
Answer-In this case as the sole Is OF
specIflc goods Il would be considered
TINT d. was empowered to select and
appropriate the barrels for a. This
having been done and the barrels deil-
nitely chosen and set apart they be-
cou1e the property OF A. and the loss by
Are would fall on him In the absence oil
negligence which might make y. re-
sponslble.
Slxteenth--Deflne "bailment'
Answered. ballment In transfer Oh
the possession Of personal properly
from ono called bnilor to another call
ed bnilcc. to be held By the latter IN
der certain conditions, and or. the tul-
nliment OF said conditions to be either
returned 10 the bailor or delivered to
another on his order.
Seventeenth-Wha sort OF properly
Is the subject OF ballment? State fully.
AnswSr-All forms OF personal prop
ertV, lncludinu not only specific objects
but also anything which represents per-
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