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The New Essentials of Business Arithmetic: (English)

The New Essentials of Business Arithmetic: (English)

          
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About the Book

This historic book may have numerous typos and missing text. Purchasers can download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1908 Excerpt: ... note is the party who makes the promise over his own signature; the Payee of a note is the party to whom, or to whose order, the note is made payable; the Holder of a note is the party who owns it; and the Face of a note is the sum of money (not including the interest which it may accrue) which the maker promises to pay the payee or holder of the note. 208. A Negotiable Note is one which is made payable to the bearer, or to the order of the payee. A negotiable note can be sold or transferred. Rem. 1.--When a note is made payable to bearer, any person who is the lawful holder of the note is the payee. Rem. 2.--When a note is made payable only to the party named therein, it ia said to be non-negotiable. 209. An Indorsement is matter written on the back of a note or other commercial paper. Rem.--An indorsement is usually the signature of the payee, guarantor, or lawful holder, upon the back of a negotiable note or other negotiable paper; and its purpose is to enable the payee or lawful holder to sell or transfer his title or ownership to another. 210. A Protest of a negotiable note is a formal statement by a notary public, at the request of the holder, that said note was presented to the maker thereof for payment, and by him refused. Rem. 1.--In case of non-payment of a note by the maker, each indorser can be held liable only after a formal protest has been made, and proper notice given to him. Each indorser may, in turn, be held liable to every subsequent indorsee, and may look for indemnity to every antecedent indorser. 211. The Maturity of commercial paper is the time at which it becomes legally due. To determine the maturity of commercial paper, when the time is expressed in months, count the given number of months from the date of the paper to the same d...


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Product Details
  • ISBN-13: 9781236457288
  • Publisher: Rarebooksclub.com
  • Publisher Imprint: Rarebooksclub.com
  • Height: 246 mm
  • No of Pages: 74
  • Series Title: English
  • Weight: 150 gr
  • ISBN-10: 1236457285
  • Publisher Date: 01 May 2012
  • Binding: Paperback
  • Language: English
  • Returnable: N
  • Spine Width: 4 mm
  • Width: 189 mm

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