The Providence news. (Providence [R.I.]) 1891-1906, 1899-08-03

nctttious or non-existing person, and such
fact was known TO the person making n
30 payable; or
4 When the name OF the payee does not
purport TO be the name OF any person; or
3. When the only or last Endorsement is
an Endorsement In blank.
Sec. s The instrument need not follow
the language OF this act. but any terms
are sufficient which clearly Indicate an tn
tention to conform 10 the requirements
hereof.
Sec Is. Where the instrument or an ac
ceptance or any Endorsement thereon is
dated such date IL deemed prima fscIe &c
be the true date OF the making. drawing
acceptance or Endorsement. as the case
may be.
Sec. 90 The instrument is not invalid
for the reason only that IL IL ante-dated OF
post-dated, provided this In not done for
an illegal or fraudulent purpose. The per
son 10 whom AN instrument so dated IA
delivered acquires the title thereto as OF
the date OF delivery.
Sec. 2l Where an instrument expressed
to be payable at fixed period after date
is issued undated. or where the accept.
ance OF an instrument payable at fixed
period after sight ts undated. any holder
may insert therein the true date OF is-
sue or acceptance. and the instrument
shall be payable accordingly. The inser.
ton of wrong date does not avoid the
instrument IN the hands OF a subsequent
holder In due course; but as to him. the
date so inserted In to be regarded as the
true date.
Sec. 22. Where the instrument Is wanting
in any material particular. the person ir
possession thereof has a prims facie AL.
thority 10 complete II by filing up the
blanks therein. And signature on
blank paper delivered by the person max.
ing the signature I'm order that the paper
may be converted into a negotiable in.
strument operates as prima facie au.
thority to fill IL up as such for any
amourt. In order. however. that any
such instrument. when completed. may be
enforced against any person who became
! party thereto prior 20 Its completion. II
must he filled up strictly In accordance
with the authority given and within
reasonable time. But II any such instru.
ment. after completion. is negotiated to
holder In due course. IL is valid and ef
fectual for all purposes In his hands, anc
ne may enforce IL as IL IL had been filled
mp strictly In accordance with the author
ity given and within a reasonable time.
Sec. q. Where an incomplete instrument
has not been delivered II VIII not IL corn.
pieted and negotiated without authority
be a valid contract I'm the hands OF ans
holder. as against any person whose sig.
nature was placed thereon before delivery
Sec. "a. Every contract on negotiable
instrument is incomplete and revocabls
until delivery OF the instrument for the
purpose OF giving effect thereto. As be.
tween immediate parties. and as regards
q remote party other than holder in du,
course. the delivery. i'm order TO be ef.
fectual. must be made either by or under
the authority OF the party making. draw.
ing. accepting or indorsing. as the case
may be: and in such case the delivery
may be shown 10 have been conditional
or form a special purpose only. and no
for the purpose OF transferring the prop,
crty i'm the instrument. But where ths
instrument Is i'm the hands OF n holder
in due course. "A valid delivery thereof by
all parties prior TO him so az TO make
them liable TO him is conclusively presum
ed. And whore the instrument is no lon
ger I'm the possession OF a party who's,
signature appears thereon a valid and in
territorial delivery by him Is presumed yB-
I'll the contrary is proved.
Sec. %. Where the language OF the In
sirument IL ambiguous. or there are orais
sions therein, the following rules of con
struction apply:
/. Where the sum payable Is expressed
in words and also I'm figures and there is
n discrepancy between the two, the sum
denoted by tho words Is the sim payable
but IL the words arc ambiguous or uncer
tain. references may be had TO the fig
ures TO fix the amount;
2 Where the instrument provides 70
the payment OF interest. without specify
ing the date from which interest is &c
run. the interest runs from the date oil
the instrument and II the instrument IL
undated. from the issue thereof
:. Where the instrument is not dated "
will be considered to be dated of the
time II was issued:
4. Where there is a conflict between th'
written and printed provisions OF the in
strument the written provisions prevail
5. Where the instrument Is SO amblgu
Gus that there is doubt whether II is
bill or note, the holder may treat IL as ei
ther at his election
6. Where a signature Is so placed upon
the instrument that IL is not clear I'm what
capacity the person making the same in
tended to sign. he is TO be deemed an In
dorser:
:. Where an instrument containing the
words II promise to pay Is signed ny
two or more persons. they are deemed &C
be Jointly and severally liable thereon.
Sec. 26. No person H. liable on the instru.
ment whose signature does not appear
thereon. except as herein otherwise ex
pressly provided. But one who signs in
trade or assumed name will be liable to
the same extent as II he had signed IN his-
own name.
Sec o. The signature Of any party may
be made by n duly authorized agent. NO
particular form OF appointment Is neces-
sary for this purpose and the authority
or the agent may De esldpllSiitu 90 h' VII
er cases of agency.
Sec. 2s Where the instrument contains
or n person adds TO his signature words
indicating that he signs for or on behat
OF a principal or in a representative ca
pacity, he Is not liable on the instrument
IL he was duly suthorizeds bat the mere
addition OF words describing him ~ an
agent. or as filling representative chnr-
octer, without disclosing his principal,
does not exempt him from personal ha-
bilty
Sec. 90 a signature by 'procuration
operates &c notice that the agent has but
a limited authority 10 sign and the prin-
cipal is bound only in case the agent IN
80 signing acted within the actual limits
OF his authority.
Sec 80. The Endorsement or assignment
OF the instrument by corporation or ny
an infant passes the property therein,
notwithstanding that from want OF ca
pacity the corporation or infant may In
cur no liability thereon.
See 81 Where n signature IS forged or
made without the authority or the person
whose signature II purports 10 be. II Is
wholly imperative. and no right 20 retain
the instrument or TO give discharge
therefor, or to enforce payment thereof
against any party thereto can be ac-