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

person Cashier other fiscal officer of bank corpora
ton deemed prma face be payable the bank
poraon of which he is such officer and be negotiated by
either the Endorsement of the bank corporation, the in
dorsement of the officer
SECTION 49, Where the name of a payee or indorsee is
wrongly designated mpelled he may ndorse the nstr
therein described adding if he think fit his proper
signature.
SECTION A. Where any person is under obligation in
dorse in representative capacity he noe in such terms
to negative personal liability.
SECTION As. Except where Endorsement bears date after
the maturity of the instrument every negotiation is deemed
prma face to have been effected before the instrument
overdue
SECTION 4c Except where the contrary appears every in
doemen is presumed prma acie have been made at the
place where the instrument is dated.
SECTION AZ. An instrument negotiable in its origin
tnues be negotiable until it has been resrcvcy Endorsed
oEdischarged 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 anserec such title the anscrcr had therein,
and the acquires in addition right have the
Endorsement of the ranerer But for the purpose of deter
mining whether the transfercc holder in due course the
negotiation takes effect of the time when the Endorsement is
actually made.
SECTION SO. Where instrument is negotiated back a
prior party, such party may subject the provisions of this
Act reissue and further negotiate the But he not
titled enforce payment thereof against intervening party
to whom he was personally liable.
HOLDER
SECTION 81. The holder of negotiable instrument may
thereon in his and payment to him in due
discharges the instrument.
SECTION 50. holder in due is a holder who has
taken the instrument under the following conditions:
l. That is complete and regular upon its face;
That he became the hore of it before it overdue
and without notice that had been previously dishonoed if
such was the fact;
B. That he took it in good faith and for vaue
H. That at the time it negotiated to him he had notice
of nrmy in the instrument defect in the title of the
person negotiating it.
SECTION 3d. Where an instrument payable demand is
negotiated unreasonable length of time after its ISSUE the
holder is not deemed holder in due
SECTION 81 Where the transtere receives notice of in
trinity the instrument defect in the title of the person
negotiating the before he has paid the full agreed
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 person who negotates insru-
defective within the meaning of this Act when he OBJ
tanned the instrument signature thereto by fraud duress
force and fear other unlawful means for illegal
consideration, when he negoaes in breach of faith,
under such circumstances amount to a fraud.
SECTION &c. To constitute notice of nfrnity in the in
strment defect in the title of the person negotiating the
the person whom is negotiated must have had actual
knowledge of the nny 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 any defect of title of prior parties and free from
ceses available prior parties among themselves and
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 course negotiable instrument is subject the de-
lenses if nonnegoabe But holder VINO derives
his title through holder in due and who is not him
self party any fraud ilegay affecting the instrument
has all the rights of such former holder respect of all parties
prior to the latter.
SECTION 50. Every holder is deemed prma facie be
holder in due but when is shown that the title of
person who has negotiated the instrument defective the
burden is the holder prove that he person under
whom he claims acquired the title holder in due But
the last mentioned rule does apply in favor of party who
became bound the instrument prior the acquisition of
such defective title
SECTION 60. The maker of negotiable instrument by max
ing engages that he will pay it according to its tenor and
admits the existence of the and his then capacity to i'll
dorsc
SECTION 81. The drawer by drawing the instrument admits
the existence Of the paycc and his then capacity to indorse
and engages that due the instrument will be
accepted paid both, according to its TENOR and that ii it
be dsonod and the necessary proceedings disonor DO
duly taken, he will pay the amount thereof to the holder or to
suscuucu udnrscr who be c0mpccd II. But