The Virginia enterprise. [volume] (Virginia, St. Louis County, Minn.) 1893-19??, 1913-05-02

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such aided annual fair. file with the county
Ing the name and address Of every person
to whom any Of said money was paid. to-
description Of the purposes for which the
n money was 80 paid. and he shall attach there
so made ana shall return to t Gaen co pay
treasurer all Of the unexpended portion there,
OF; After said report, and receipts, and sub
! board ana found to be correct they nav by
resolution release said treasurer or other per-
ity under such bond.
Sec: 2 The county board in any such
fnsfsr may may also annually appropriate such
800. for the purpose Of procuring ee SUITE
able site and the erection OF suitable coun-
tion with such county fair but said site and
said building shall be and remain the prop-
pration shall be used only for the ap png-
nose pos o or 50 acquiring such site and build
tenanc no a 5os the necessary care repair mani,
Approved April IL. 1918
CHAPTER 272-H. F. No. 100.
AN sot; nn to make uniform the law of ne
~ M enacted by the Legislature of the State
NEGOTIABLE 1H TsTkE i m ,nu.
ARTICLE +.
| FORM AND INTERPRETATION
Secuon l. CFORM OF NEGOTIARIE. ~
. hIOMENT) An instrument to be nerotiahio
'''u u.s. CONFORM to the following requirements:
n,s ~. IL must be in writing and signed by tho
Or ords Must i. contain an unconditional promise
or az S1oe M1 to pay s sum certain in money;
nxed or deteTmfnable future time: " a.
~ Must be payable to order or to bearer,
70, Where the instrument is addressed "a
d,c arawee; ne must be named or otherwise In
Sec . ''e ecnRT KIN tn rsasonahls certainty
|CONsTTTUTEs.) The sum pavahle :. VIA a.'.lc
certain certain within the meaning Of this act ' nj.
| ~ With interest or
| ~ BY stated Instruments
that uno, ssatea insalments. with provision
men, or OF interest. the whole shall hecosn.
AZ With exchange, whether .. . w.. 49,.
or at the current rate on or at a sven n,a aaee
,e 90 n with costs Of collection Or an attorney.
turity. s'a'' not De made at ma
ri Sc s. cw1HBN PROMISE Is uNcoND1-
Pay is unconditional within the meaning ~
TINS act. though coupled with: "
of Which h eGrGatren Of PARTICULAR fund out
particular po,,nt. account to be debited with tho
! ,2) A statement of the transaction nn;o,
gives rise to the instrument. But an order or
promise pro to PAY out of particular fund is
rI See W. =; DETERM1NAR1E FUTURE
,nent is payable at determinable future time
~lth1n the meaning Of this act which Is ex.
pressed to be payable: % ga
% q, At - ti1ed period after date or sight; or
future time specified therein; or
/ to' On or at a fixed period after tho oc
currence of specified event which is Certain ain
uncertain. - N"ppe"'"s ne
An instrument payable upon contingency
a
event does not cure the defect. '''
$751; Sec; 8 u! 1ADDITIoMAL PROVISIONS NOT
ment which contains an order or promise ~
a is net IN to the of
of an Instrument other Negotiable
gotiable Is not affected by a provision which.
"a ~ Authorizes the sale of collateral securi.
ties In case the instrument be not paid at
maturity: N" az
y, Authorizes confession Of Judgment IL
the instrument be not paid at maturity: or
C3) Valves the benefit Of any law intended
FOR the advantage or protection of the obger;
| (4) Gives the holder an election 70 reou,re
something to be done in lieu of payment Of
But nothing in this section shall, validate
Sec. s. loM1ss1oNs SEAL H.ner" PAR rfca!
by the fact that: ''' ""e''eo
Il, It is not dated: Or
t2) Does not specify the value given, or
thaI any value has been given therefor; or
! t3) Does not specify the place where it IL
dr az" or or the place where it is payable;
~ Des'gnates particular kind of current
money nMi d in which payment is to be made.
repeal any statute requiring in certain cases
the nature of the consideration to be stated
III se ete :. 'St WHEN PAYABLE ON DEMAND,
An instrument Is pabable on demand:
M When n it a is to be payable
(2) In which no time for payment is ex-
pressed.
Where an instrument is issued, accepted or
Endorsed when overdue, it s, regards tho
person so issuing. accepting, or indorsing it,
Sec. g. WHEN PAYABLE TO oRDER)
is drawn payable to the order of a specified
drawn payable to the order Of;
~ payee who is not maker, drawer. or
~ THE drawer or maker; or
(3) The drawee;
az Two or more payees jointly; or
(5) One Or some Of several payees: or
!6' The holder OF an office for the time
being
Where the instrument is payable to order
the payee must be named or otherwise indi-
Gated therein 131 With Nth reasonable certainty.
The instrument is payable to bearer:
~ When 1t is expressed to be so payable;
l3) When 1t is payable to the order Of a
FICTITIOUS Or nOn-eXlSllnS person, and such
fact known to the person making it SO
payable:
a. When the name OF the payee does rot
purport to be the name of any person: or
Is When only the last Endorsement Is an
Endorsement In blank.
| Sec TO- (TERMs WHEN SUFFICIENTLY
The instrument need not follow the language
Of this act. but any terms sufficient which
clearly indicate an intention to conform 70 tho
requirements hereof.
Sec IL. DATE, RESUMPTION AS TOY
Where the instrument Or an acceptance Or any
Endorsement thereon is dated, such date IS
deemed prima facie TO be the true Date OF the
making. drawing, acceptance, CT Endorsement
&c Sec &c. Il. ANrErDArED AND POST DAT
ED The instrument is not invalid~for the
provided this is not done for an illegal or
fraudulent purpose. The person to whom an
instrument so dated is delivered acquires tho
t Sec. e IS. WHEN Dale 1f NAY s HE IN
sERTEDJ Where instrument expressed
to be payable at fixed period after date is
an instrument payable at fixed period after
sight is undated, any holder may insert there
in the true date Of issue Or aeceptance: and
The insertion OF wrong date does not avoid
the instrument In the hands Of subsequent
50 sees RseF f. I WH Fl As NAYS oT NJ
FILLED.) Where the instrument is wanting
possession thereof has prima facie authority,
to complete II by Milling up the blanks therein:
And signature on a blank paper delivered
that the paper may be converted Int" me-
gotiable Instrument operates a rrin,a facie $
authority to MI 1t up as SUI, such ,f for an. any
instrument when completed may be enforced Z
against any person ~Eo became a party
;sS to it's thus b.
thority given and within a reasonab Bile time.
But II sny such instrument. otter completion.