Evening bulletin. [volume] (Honolulu [Oahu, Hawaii]) 1895-1912, 1907-04-24

person cashier other fiscal officer of bank corpora
ton deemed prima facie be payable the bank
poration of which he is such officer and may be negotiated by
either the Endorsement of the bank corporation, the in
dorsement of the officer.
SECTION 43. Where the name of payee or indorsee is
wrongly designated msspeled he may ndorsc the nstr
therein described adding if he think fit his proper
signature
SECTION A. Where any person is under obligation in
dorse representative capacity he norse in such terms
to negative personal liability.
SECTION 49, Except where Endorsement bears date after
the maturity of the instrument every negotiation deemed
prma facc to have been effected before the instrument
overdue.
SECTION 4G Except where the contrary appears every in
dorsemcnt presumed pma facc to have been made at the
place where the instrument is dated.
SECTION AZ. An instrument negotiable in its org
tnues be negotiable until it has been resrcvely Endorsed
or discharged by payment or otherwise
SECTION 40 Where the holder of instrument payable to
his order transfers for value without ndorsng it, the transfer
in the transferee such title the transfecr had therein
and the nscree acquires in addition, the right have the
Endorsement of the transeer But for the purpose of deter
mining whether the anscrec is holder in due course the
negotiation takes effect as of the time when the Endorsement is
actually made
SECTION 80 Where instrument is negotiated back a
prior party such party may subject the provisions of this
Act reissue and further negotiate the But he is not
titled to enforce payment thereof against intervening party
10 whom he was personally liable.
RIGHTS THE HOLDER.
SECTION 81 The holder of a negotiable instrument may
sue thereon in his name and payment to him in due course
discharges the instrument.
SECTION 52 A holder in due is a holder who has
taken the instrument under the following conditions:
l. That it is complete and regular upon its face
2 That he became the hodre of it before it overdue,
and without notice that had been previously dhonored if
such was the fact;
3. That he took it in good faith and for value;
t. That at the time it negotiated to him he had notice
of ntriy in the instrument defect in the title Of tho
person negotiating it.
SECTION 50. Where instrument payable demand is
negotiated unreasonable length of time after its ISSUE the
holder is not deemed holder in due
SECTION 81 Where the anscree receives notice of in
trinity in the instrument defect in the title of the person
negotiating the before he has paid the full agreed
to be paid therefor he will be deemed holder in due
only to the extent Of the amount heretofore paid by him.
SECTION 3D. The title of Il person who negoaes nstru
defective within the meaning of this Act when he OBJ
tanned the instrument signature thereto by fraud duress
force and fear, other unlawful for illegal
considerations when he ncgotiatcs in breach of faith,
under such circumstances as amount Il fraud.
SECTION SO. To constitute notice of infmiy in the in
defect in the title of the person negotiating the
same the person whom is negotiated have had actual
knowledge of the inirity defect knowledge of such facts
that his action in taking the instrument amounted bad faith
SECTION 81. holder in due holds the instrument
free from defect of title of prior parties and free from
cfcnse available to prior parties among themselves and may
enforce payment of the instrument for the full amount thereof
against all parties liable thereon.
SECTION IS. In the hands of any holder than holder in
due negotiable instrument is subject to the de-
lenses if it non-ncgotiabc But holder derives
his title through holder in due course and who is not him
self party any fraud egaity affecting the instrument,
has all the rights of such former holder in respect of all parties
prior to the latter
SECTION 80 Every holder is deemed prima facic to be
holder in due but when it is shown that the title of
person who has negotiated the instrument defective, the
burden the holder prove that he person under
whom he claims acquired the title holder in due But
the last mentioned rule does not apply in favor Of party who
became bound the instrument prior to the acquisition of
such defective title.