United States or San Marino ? Vote for the TOP Country of the Week !
Or, if he should indorse it in blank, or order it paid "to the bearer," it would again pass, as at first, by mere delivery. In common business transactions in the country, notes intended to be negotiable are usually made payable to bearer, as in the form given. The making of a note payable to order protects the holder or owner in case the note should be lost.
He had succeeded in engrafting on Harley's Land Bank Bill a clause which empowered the government to issue negotiable paper bearing interest at the rate of threepence a day on a hundred pounds. In the midst of the general distress and confusion appeared the first Exchequer Bills, drawn for various amounts from a hundred pounds down to five pounds.
If both parties are guilty, neither can, in ordinary cases, obtain relief on a contract that has been executed. The rule that a consideration is necessary to a valid contract applies to all contracts and engagements not under seal, except bills of exchange and negotiable notes after they have passed into the hands of an innocent indorsee.
I asked one of the great insurance men why it was that great financial institutions took so strong an interest in politics. He laughed, and said, "If I am not mistaken, not long since your country repudiated its Government bonds, and they are not negotiable to any great extent among your people." Hearing this I assumed the American attitude and "sawed wood."
There was no evil, he told me, that was not negotiable there; no evil the old man knew had ever been taken away in despair from his shop.
Rayne, the man with the abnormal criminal brain, had, by that ingenious coup, not only contrived to spirit away to the Continent a sum of eighty thousand pounds in negotiable securities, but had also sent to a long term of penal servitude the man who had attempted to betray him.
To us, clad as we are in mountain-soiled tweeds and with no money but British bank-notes negotiable only at a practically infinite distance, this must needs be a reassuring induction. And Utopian manners will not only be tolerant, but almost universally tolerable.
But if the ticket were negotiable, like a bank-note payable to bearer, the holder, not actually himself the thief, would have an absolute title to the seat without regard to anything that happened prior to his getting possession of the ticket. Now it is obvious that it is for the enormous convenience of business to have business documents made negotiable.
The only point upon which statesmen of all parties were agreed was that it was worth purchasing. The Nonconformists themselves, upon whom the Great and Living Truth was sprung, had no notion at first that it could be turned into a negotiable security occupying as high a place in the market as, say, Argentine bonds.
"Just try it!" taunted Hamilton, who, at last, found himself embarked on this mad adventure in chicanery. "I have five millions in negotiable securities," Delancy added. "I'm willing to spend every penny of it in 'busting' you, if you try it." Hamilton now took up the argument, with a spirit that delighted the listening wife.
Word Of The Day