The independent-reporter. [volume] (Skowhegan, Me.) 1909-1955, 1917-04-12

but any terms arc suHnclent Which
form 10 the reouirements hereof.
Section II. Where the instrument
or an acceptance or any Endorsement
thereon Is dated. such date Is deemed
prima faoie-to be the true date OF the
making. drawing. acceptance. or In
dorsement as the case may be.
Section u The instrument Is not
invalid for tho reason only that II
Is ante-dsted or post-dsted. provided
this 10 not dons f5r an Illegal or frau
dulent purpose Tho person TO whom
an instrument q dated Is delivered
acquires the f5He>~snefsto as OF tho
aa Section IL a' H, 6f.r. an instrument
Expressed TO b payable al fixed
period after dafs ls issued undated. OF
where tho acceptance Of an Instrument
payable at a liked period after sight
Is undated. any holder may insert
therein the true date Of Issue or ac-
ceptance. and tho instrument shall be
payable accordingly The insertion
OF a wrong date does not avoid the
instrument In the hands of a subse-
quent holder in due course; but az
to him. tho date 30 inserted is to be
regarded as the true date.
Section IL Where the instrument
Is wanting In any material particular.
the person in possession thereof has .
prime faoie authority to complete 1t
By hlling up tho blanks therein. And
a signature on a blank paper deliver
ed by tho person making tho sigma
ture In order that the paper may De
converted into = negotiable instrument
operates as prima facie authority
to fl It up as such for any amount.
In order. however. that any such In
strument when completed may be en-
forced against any person VINO De-
came a party thereto prior to It's COM
pletlon. Il must be hlled up strictly In
u annrdanrA with tha authority given
and within q reasonable time. But II
any such instrument after completion.
Is negotiated to 4 holder In due course.
II is valid and effectual for all pur-
force It as II 1t had been Allied up
strictly in accordance with tho au-
thority given and within reasonable
time.
Section Is. Where an incomp lete
has not been delivered 1t
will not, II completed and negotiated.
without authority be valid contract
in tho hands of any holder. as against
any person whose signature was placed
thereon before delivery.
Section 18. Every contract on
instrument is incomplete
and revocable until delivery OF the In
strument for the purpose Of giving et-
feet thereto. As between immediate
parties, and as regards a remote par
ty other than a holder in due course.
1
must be made either by or under the
of the party making. draw
ing. accepting or indorsing. as mo
case may be: and In such case the
delivery may be shown to nave oeen
or for a special purpose
only. and not for tho purpose or trans
ferring tho property In the instru-
ment But where tho instrument Is In
the hands OF holder In due course.
a valid delivery thcrof by all parties
IL 49, NH re i
to him Is conclusively presumed And
where the instrument Is no longer In
the possession of party whose sig ..
nature appears thereon. a valid ana
intentional delivery by him Is pre-
section II Where the language Of
the Instrument Is ambiguous or there
are omissions therein. the following
rules of construction apply;
ID Where tho sum payable Is eS-
pressed in words and also in hgures
and there Is discrepancy between
he two. the sum denoted BY tho words
is the sum payable; but II the words
arc ambiguous or uncertain roter-
ence may be had to the figures TO Tx
tho amount;
(3) Where the instrument provides
for the payment OF interest. without
$ specifying tho date from which inter-
est Is to run, the interest runs from
the date of tho instrument: and II
the instrument IL uHudtcu iiV'' NV
issue thereof.
ca Where the instrument Is not
dated, It will DO considered to be dated
as of the time It was issued;
90 Where there Is CONFLICT be
ween the written and printed Prov,
sions OF tho instrument the written
provisions prevail:
CD Where tho instrument Is so
am biguous that there Is doubt wheth-
or 1t Is a bill or note, the holder may
trent 1t as either at his election. =.
placed upon the instrument that 1t Is
making tho same intended to sign. he
Is to be deemed an indorser;
ID Where an instrument contain
Ing tho words II promise to pay Is
signed by two or moro persons. they
are deemed to be Jointly and severally
iablo thereon.
Section 1s No person is liable, on
he instrument whose signature does
not appear thereon. except as herein
otherwise expressly provided. But one
who signs In trade or assumed
name will be liable to the same extent
as II he had signed In his own name
Section 10 Tho signature OF any
party may be made by duly author
ized agent No particular form OF
appointment is necessary for TINS pur-
pose; and tho authority OF the agent
may be established as In other cases
Of agency. ,
contains or a person adds to his sig
nature words Indicating that he signs
FOR or on behalf OF q principal or In
\ representative capacity, no ls not
liable on tho instrument II he was
duly authorized; but INC mere h,s sooi,
agent. or as nlling q representative
character. without disclosing his prln-
,ipal, does not exempt him from per-
sonal liability.
Section Al. A signature ~ pro
duration" operates as notice thar the
agent has but limited authority 70
sign. and tho principal Is bound only
In case tho agent In so signing acted
" thin tho actual limits Of his author
Section ~. Tho Endorsement or as
sIsnment Of tho instrument by cor
poration or by an infant passes tho
property therein. Notwithstanding that
from want of capacity tho CORPORA
lion or infant may incur no liability
thereon.
section Is When signature Is
forged or made without tho authority
OF tho person whose signature II pur-
ports to DO. It Is wholly imperative.
and no right to retain tho instrument,
or to give a discharg therefor. or to en-
force payment thereof against any
party thereto. can be acquired through
or under such signature. unless tho
party against. whom 1t Is sought to
enforce such right. Is precluded from
setting up the forgery or want or su-
thority.
SECTION - Every negotiable in
strument Is deemed prima facie to
have been issued for a valuable con-
= Iteration and every person whose
signature appears thereon to have be-
come a party thereto for value
Section rs Value Is any considera-
lon sufficient TO support a simple con-
tract. An sntecedept or pre-exlstins
debt constitutes value: and Is deem :
I'd such whether the instrument Is
payable on demand or at q future
lime.
Section rs Where value has at any
, tine been given for the instrument.
tho holder Is deemed a holder for val
ue In respect to all parties who be-
came such prior to that time.
Section II Where the holder has
a lien on the instrument. arising
either from contract or by IMPLICATIONS
OF law, ne Is deemed a holder for val
na ~ tho ertant Of his lian