322. If the drawee is willing to accept on certain conditions or with certain qualifications, and will state them in the acceptance, should or must the holder allow him so to accept? A. The holder of a bill must not allow the acceptor to qualify or make conditional his acceptance in any way, and if the drawee does so accept, the makers and indorsers will be released if the bill is not protested. 323. What is the order of liability among themselves to an accepted bill of exchange? A. Acceptor, Drawer, First Indorser, Second Indorser, etc. 324. If a bill has been protested for non-acceptance, must it be protested for non-payment? A. Protest for non-acceptance is sufficient. 325. If after acceptance of a bill of exchange by the drawee, he should ascertain that the drawer's signature was forged, would the drawee be obliged to pay? A. The drawee has no recourse against an innocent party, because he is bound to know the drawer's signature. Bank, obliged to treat a bill as check, 165. See also Corporations. Bill, addressed to some person, 19. -sufficiently signed, 22. -unaddressed, 29. -undated, 54. liability of drawer, 90. -acceptance applied to, 289. -how to refuse to accept, 294. Bill of exchange, 9. 14, 16, 164. -treated as promissory note, 17. -addressed to several drawees, 18 -liability of all parties to, how retained, 167. B-Continued. See also Draft, Instruments, Negotiable Blanks, in negotiable papers, 44. Bonds, railroad and municipal, 79. .c Cashier, liability for fraudulent indorsement, 238. power of, 299. Certificate, of deposit, 73. -receiver's, 76. Certification, verbal or telegraphic, 195. Check, 21. -non-negotiable, 74, 75. -fraudulently raised, 174. forged, 176, 177. -paid after drawer's death, 178. -drawn without funds in bank, 180. -directions for making, 181. -drawn in full of account, 182. -dated ahead, 184. -payable on demand, 185. -payable to cash or order, 186. -forged, who stands loss, 196. Collateral, release of, 265. Consideration, necessary, 48, 49, 142, 143. -liabilities of, 112, 114. -rights of, to make and indorse, 113. -when bound by promissory notes, 115. -power to make or indorse for accommo- Date, lacking, 54, 55. Demand, when to be made, 157, 158. Depositor, making note. 165. Dishonor of note, 129-139. -theory of, 20. -validity of, 21. -as contracts, 23. -cancelled or paid, to be kept, 172. Drawee, more than one, 18, 19. B Figures refer to number of Question "&a Indorsement, forged, 177. for accommodation, 202, 203. -nature of, 211; purpose, 213; kinds, 214; -of instrument payable to bearer, 229. by corporate officers, 232. -by corporation agent, 233. -absence of, upon bonds, 239. -how made by agent, 240. -by infant, 241. -by married woman, 242. -by executor, 243. by member of partnership, 244. when to be made, 246. -promise of, 249. I-Continued. -release of, 263, 266. Infant, indorsement by, 241. Insane, liability of, as indorser, 208. Instruments, payable to order, 36. -in favor of fictitious person, 160. -payable to bearer, 68. |