Essex County herald. [volume] (Guildhall, Vt.) 1873-1964, 1913-05-23

Reverend" remarked that the wit
nesses must sign the certificate and |
pushed paper toward them which |
they readily signed.
Three months later bank produced |
the marriage certificate" for pay
ment. 1t was a regularly drawn
note for S50O.0O. McGoorty had to
pay it, as he was legally liable. He
had committed the fault of failing to
read what he signed. In his case he
actually signed a note. OF course.
neither the Reverend" nor his con-
federates could have collected from
the McGoor tvs, but they had negot
ated the note at the bank, which,
having nothing to arouse its sus-
piciOns and knowing McGoorty's sig
nature, purchased it for full value,
whereupon, the Reverend and his
friends 'moved on to try their scheme
in vigil soil, taking care to be we'll
away when the notes fell due. Where
one of two innocent persons must
suffer the law takes the view that
the one who by his carelessness made
the fraud possible must foot the bill.
A similar result followed in the
case of Clarence Tucker who pur-
chased and accepted a Darrell of medi-
Gated calf meal. giving his note for
$40 thereof. The bottom two-thirds
of the barrel proved filled with saw
dust. but by that time the bank had
purchased the note and the agent
had vanished. Tucker was legally
bound to pay tn note The vendor
, of the meal could n t have recovered
,, the sum, but again the quality Of
negotiability protected the innocent
purchaser, and the man who signed
the note had to pay it. He had sign
ed note, and it having come into
the hands of an innocent third party
= in due course Of business, his liability
=, was settled.
So when you sign a promissory
. note, drawn in the familiar form
sixty days after date, for value re-
! ceived, | promise to pay to the order
- of John Doe, the sum of One Hun
:, bred Dollars with interest at six
! percent per annum-remember that
it is negotiable and so is a great deal
, like money in that it may be freely
j passed from hand to hand by simple
Endorsement on the back. and the
! man who comes by it honestly has
y full rights against the person who
, signs it.
In order to possess this quality OF
: negotiability-to be able to pass
- from one to another by simple in
= dorsement, giving to the person re
~ ceiving it these superior rights
note must conform to certain lega
requirements. These are stated If
the Negotiable Instruments Law, ;
uniform act which has been adopted
in similar form by practically all o.
the states. In general the note mus
. be in writing and signed by the max
er. Writing in its legal sense includes
. printing, Autographs, etc; ard thu
. signature may be an abbreviation o.
=. a mark" Further, to be negoti
able it must contain an unconditional
! promise to pay a sum certain in mon
= ey. There must be no eff" abou
E the promise to pay. Also it must b,
to pay money and not potatoe
or nails. If you are having TIN
:, house shingled and want to proven
the negotiating of note you ma,
: give so that no one may secure from
" it better rights than the carpente
!: to whom you give it, you may do 81
- by stating in the note that you pro
mise to pay upon condition that thu
: barn is shingled in accordance with
the agreement.
To be negotiable note must b.
payable on demand, or at fixed O
determinable future time. Naming
future date, of course, fixes tn.
time. So, too, it is regarded as
fixed time if payment is to be mad,
at the happening of an event that i
certain to occur. Sixty days from
date is determinable future time
Further, it must be payable t,
order or to bearer, these words o.
negotiability being necessary tina
the instrument may possess tina
quality. So notes are written "pay
to the order Of John Smith" and no
just pay to John Smith"
A note lackinq the above raonira