St. Paul tidende. [volume] (St. Paul, Minn.) 1902-1928, 1913-05-02

oAI oAS iAAo liASu ~ III 10 AO
to his title. The indorser whose Endorsement
is struck out. and all indorsers subsequent to
him. are thereby relieved from liability on the
Sec: %; TRANsEER WITHOUT N
DoRsEMENT; BFFEcT .oF:l Where the
transfers 1T for value without indorsing It.
the transfer vests In the traasferee such little
{ as the ac transfergr had naa,t Therein The and r,en the 70 trans hans.
the Endorsement of the TRANSFORM But for the
purpose Of determining whether the transferee
takes effect as of the time when the indorse-
ment is actually made. -
Ees: g. arH SWNgm RK EHT., M + m MAY Az
strument is negotiated back to a prior party:
such party may, subject to tho provisions OF
same. But he is not entitled to enforce pay
(ment thereof against any intervening party to
whom he was personally liable.
ARTICLE Nv. g
RIGHTS OF THE HOLDER
SEQ. 81. RIaHr OF HOLDER 70 SUE;
p EtA,menf NAV Tn n. n tSesson Of IN a h nisze oWn name me
ana payment to him in due course discharges
pR sso IN s.. D6 MH a5u sSE5r1 Il Ss;se4 4 f Sos n.
% ssaass un IL = f fSe iol SRa eas eo ssHsS s9' n''0-
~ That 1T Is complete and regular upon
"a That he became tn, holder q IL before
It was overdue, and without notice that 1t
14oN oSSA ~ ~ W.
lD THAT no took It In good faith and for
value;
g. g T 6. e n n t FHas s S's s6 2fs2515ssS s
HOLDER in y coURsE.)! Where an in.
him he had no notice Of any inhrnity in the
instrument or defect in the title Of tho person
an unreasonable length Of time after n. issue,
the holder is not deemed q holder in due
course. - -
AMOUNT RA1p.) Where the transfers. re-
m sent' or q defect in the title q tn. person ne;
deemed a holder in due course only to the
e1 'ssa. 0t st. ths (# eH2Ha9t t @fFT% 'b Rn1a * We
strument is defective within the meaning Of
any signature thereto, by fraud. duress. or
force and fear, or other unlawful means, OF for
e an i, 1lle S2eas son 81 faitb' or or under DSsn s he aee eiSaams
sse; 8; WHAr coMsTST sg1;gs = so y fa1
t a't1%'t y Il t nsr,1 aast nseetiste q t asse: ssn N t ths
B B%sa set to T RnaW,. i is 81 pe tBs ihfrm %y't o. he ave-
feet, Or knowledge Of such facts that his ac-
ton in taking the instrument amounted to bad
Sec. 81. R1GHTs OF HOLDER IN DUE
COUNSEL 4 3o,d aeI IN nd que ,. course - ho 4f4s. the ne
1 nl1er psrties .e and 1r free f from o aesen,e )" .v usis Ie
to prior parties among themselves. and may
enforce payment Of the instrument for the full
amount thereof against all parties liable there
Ion-
+ SEQ. %. .wTEN SUBJECT TO ORIGINAL
DEFDNsEs.) In the hands Of any holder
fother than a holder IN due course, q nesoti-
able instrument is subject to the same de-
lenses as II it were non-negotiable. But a
holder who derives his title through e holder
in due course, and who Is not himself q party
J.. a-,. <-o-a ~ l1laro lfxr oSACfi0R fhA iNHtr1-
m aD any has asa al f fhe '' rissts Il S aaeh Yer me- Holder
in respect of all parties prior to the latter:
ss1i ss;7{ Gva19 5 RIEnRi - a. 19s3 :pTim mn fa g
to be a holder in due course; but when it is
shown that the title Of any person who has ne
d 5et'ai IS oh 5h' the iPstE ho9js s g p sssss.l ss.t - Il .r =!
some person under whom he claims acquired
f + st-m title as h0 ssis a IL due sot e0 spp', i, But !t.T tos
of a party who became bound on tne instru-
ment prior to the acquisition OF such defect
I've title.
ART1cLN Y.
LIABILITIES OF PART1DA.
> Sec. 60.-NIABILITY OF MAKER.). The
tenor, and admits the existence Of thu payee
an? Sch his s1 then i1RBsffnitfEr + t 6S BRAVERY III.
drawer by drawing the instrument admits the
existence of the payee and his then capacity to
Or both, according to Its tenor, and that, If 1t
amount thereof to the holder, or to any sub
n 5sGue mt 1 RSf IL. T Spsv @ay zna % , ee@Rei IL tho to
instrument an express stipulation negatiuna
or sin ilmif!ns hif 9NP 4se, 1S e s. sSls,r: n,
~acceptor by accepting the instrument Engages
that he will pay It according to the tenor Of
(p The existence OF tho drawer. the srnu-
ineness Of his signature. an his capacity and
a%u y *, to e] sfsE ss' Il se't T.. p.1. :aa and hi.
'ns Sec eap1 @g y 5dHRs'r PERSON DEEMED
n 1ntR1R apoR an. 4 1ns RsTs1s tp'a etRsa w rs tan s,S,
as maker, drawer or a~cceptor. is deemed to be
%propriate words his Intention to 30 bound In
SIS; s5I7G TSeIi ! ,. OF 1R Edt otg.-1,.! m !.
party to an instrument, places thereon big stg-
'naorssr in !, blank ascs 5sfe5s de M ! h. b. is t ,,ns,s !.
rules:
des q u 4 a hi BIRD tnf ps2sgs, ss \ Is g slssl: 70 Z H. :n s.s e
an e, !! # tn tt. 'i instsa%ent Ys& pss.s,. to TIE =
der Of the maker or drawer, or Is payable ia
bearer. he is liable to all parties subsequent
the 90 p a. ne h s,sh IS h ias 'n to :1S' ps4tis: sab. g.
au ST.: 70 g. 51s R7zSS;R WHERE Mzao;;
l Eysry 1 Person py a n 9asltdea is=d en snssRtan .alr ~ sc
D That the instrument Is Fenuine and In
all respects z}s what paot. It t p poo2 IT, to - BEL
81 That all prior parties had capacity IA
g, That he has no ~hpoxlsass q an h.et
str1lment or render it valueless.
ou But ttn yhe Wars tas pe ss9tenas IN Is favor ~ de 4 e
holder other than tho Immediate transfers..
The provisions Of subdivision three Of this
public or corporation securities. other than
0'i Sec. a1 se.@IIAB1L1rY soF GENERAL IN
DoRsER.l Every indorser who indorses With,
~ The matters and things mentioned IN
subdivisions one. two apd three Of the next
his indorsement valid ana subsistlng.
And ssdtrd in ad q kns, he E. e aeesgt.d that "a n or due u
s tsaoI, as and th that dai L. It nPa :. al sish asesraaIns sn Z t aas
f tsfsp. Z. P viii pa9 tho On a aaoa1a't thereof ee po T.
the older or to any subsequent indorser who
m9 &c. be s9mHfl1sa II iRaE TO, OF mponsrr
WHERE PAPER NEGOTIABLE By DE.
LIVERY Where a person places his in.
d I;yery Int f IN an i ai TIM 1.ab n T u e en d de:
sec. es-oRDDR IN WHICH NDoRsERs
dorsers arc liable pr1ma faeie In the order In
which they indorse; but evidence Il admissible
to SHOW that as between OF among themselves
Joint indorsees who. indorse arc deemed t
indorse Jointly and seyerallI.
BRoKiER.) Where q broker Or other agent ne.
gotiates an instrument without Endorsement he
incursi all the liabilities prescribed by Section
n ninry.e of hi 81 p 5his eai. s unlet &. n f.e als that h. III i
acting only as an agent.