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" Where the instrument is paid by a party secondarily liable thereon it is not discharged; but the party so paying it is remitted to his former rights as regards all prior parties, and he may strike out his own and all subsequent indorsements, and again... "
Report of the Board of Statutory Consolidation: Insurance law to Partnership law - Seite 3805
von New York (State). Board of Statutory Consolidation - 1907
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American Law and Procedure, Band 7

James Parker Hall, James De Witt Andrews - 1910 - 484 Seiten
...a party seeordinarily liable thereon, it is not discharged; but the party so paying it is remitted to his former rights as regards all prior parties,...indorsements, and again negotiate the instrument. §179. Same: Illustrations. For example, C sells property worth $100 to B, taking in payment a note...
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The Law of Negotiable Paper: Containing the Text of the Uniform Negotiable ...

Alfred William Bays - 1911 - 216 Seiten
...by a party secondarily liable thereon, it is not discharged; but the party so paying it is remitted to his former rights as regards all prior parties,...accommodation, and has been paid by the party accommodated. Sec. 122. The holder may expressly renounce his right against any party to the instrument before, at,...
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Laws of the State of Delaware

Delaware - 1911 - 862 Seiten
...by a party secondarily liable thereon, it is not discharged; but the party so paying it is remitted to his former rights as regards all prior parties,...accommodation, and has been paid by the party accommodated. Section 122. The holder may expressly renounce his rights against any party to the instrument, before,...
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The Negotiable Instruments Law Annotated: With References to the English ...

Joseph Doddridge Brannan - 1911 - 372 Seiten
...by a party secondarily liable thereon, it is not discharged; but the party so paying it is remitted to his former rights as regards all prior parties,...was made or accepted for accommodation, and has been paid94 by the party accommodated. Polhemus v. Prudential Corporation, 74 NJ 570, 67 Atl. 303. In an...
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The Law of Negotiable Paper: Containing the Text of the Uniform Negotiable ...

Alfred William Bays - 1911 - 216 Seiten
...by a party secondarily liable thereon, it is not discharged; but the party so paying it is remitted to his former rights as regards all prior parties,...again negotiate the instrument, except: 1. Where it ia payable to the order of a third person and has been paid by the drawer; and, 2. Where it was made...
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Higher Accountancy, Principles and Practice: Business law, by S. D. Hirschl

William Arthur Chase - 1911 - 542 Seiten
...sees. 119 (1), 88. arily liable thereon, it is not discharged; but the party so pay: ing it is remitted to his former rights as regards all prior parties,...indorsements, and again negotiate the instrument. § 127. Same: Illustrations. For example, C sells property worth $100 to B, taking in payment a note...
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Cyclopedia of Law ...

Charles Erehart Chadman - 1912 - 666 Seiten
...by a party secondarily liable thereon, it is not discharged; but the party so paying it is remitted to his former rights as regards all prior parties,...accommodation, and has been paid by the party accommodated. Sec. 3175m. [Renunciation by holder.] The holder may expressly renounce his rights against any party...
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Annual Reports of the War Department, Band 4

United States. War Department - 1912 - 814 Seiten
...by a party secondarily liable thereon, it is not discharged ; but the party so paving it is remitted to his former rights as regards all prior parties,...indorsements, and again negotiate the instrument, except — (a) Where it is payable to the order of a third person, and has been paid by the drawer; and (6)...
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Annual Reports of the Secretary of War, Band 4

United States. War Department - 1912 - 810 Seiten
...by a party secondarily liable thereon, it is not discharged ; but the party so paying it is remitted to his former rights as regards all prior parties,...indorsements, and again negotiate the instrument, except — (a) Where it is payable to the order of a third person, and has been paid by the drawer; and (b)...
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Session Laws

South Dakota - 1913 - 796 Seiten
...by a party secondarily liable thereon, it is not discharged; but the party so paying it is remitted to his former rights as regards all prior parties,...accommodation, and has been paid by the party accommodated. § 121. The holder may expressly renounce his right against any party to the instrument before, at,...
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