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ACT authorizing act take effect ACT to amend ACT to authorize amend section amount application appointed appropriated Approved April Approved March assessment authorize and empower authorize the board bank board of supervisors bonds borrow bridge building Calhoun county cause cent certificate CHAPTER clerk commission commissioners CONCURRENT RESOLUTION constitution contract corporation county to pay court discretion district duty election empower the board enacted equipment exceed exceeding expenses filed five force fund furnish governor hereby authorized hospital HOUSE BILL hundred dollars institution interest issue January land laws Leake county Legislature levy maintenance ment Mississippi month necessary organization otherwise paid passage payment person present president proper receive road salary secretary SENATE BILL separate society superintendent term thereof thousand dollars tion town treasury trustees United visors warrants
Page 362 - But where the instrument is in the hands of a holder in due course, a valid delivery thereof by all parties prior to him so as to make them liable to him is conclusively presumed.
Page 361 - The instrument is payable to order where it is drawn payable to the order of a specified person or to him or his order. It may be drawn payable to the order of — 1. A payee who is not maker, drawer, or drawee; or 2. The drawer or maker ; or 3. The drawee; or 4.
Page 369 - And, in addition, he engages that, on due presentment, it shall be accepted or paid, or both, as the case may be, according to its tenor, and that if it be dishonored, and the necessary proceedings on dishonor be duly taken, he will pay the amount thereof to the holder, or to any subsequent indorser who may be compelled to pay it.
Page 360 - ... 1. At a fixed period after date or sight ; or 2. On or before a fixed or determinable future time specified therein; or 3. On or at a fixed period after the occurrence of a specified event, which is certain to happen, though the time of happening be uncertain. An instrument payable upon a contingency is not negotiable, and the happening of the event does not cure the defect.
Page 379 - The holder may refuse to take a qualified acceptance, and if he does not obtain an unqualified acceptance, he may treat the bill as dishonored by non-acceptance. Where a qualified acceptance is taken the drawer and indorsers are discharged from liability on the bill, unless they have expressly or impliedly authorized the holder to take a qualified acceptance, or subsequently assent thereto.
Page 360 - Authorizes a confession of judgment if the instrument be not paid at maturity ; or 3. Waives the benefit of any law intended for the advantage or protection of the obligor ; or 4. Gives the holder an election to require something to be done in lieu of payment of money. But nothing in this section shall validate any provision or stipulation otherwise illegal.
Page 360 - An unqualified order or promise to pay is unconditional within the meaning of this act, though coupled with — 1. An indication of a particular fund out of which reimbursement is to be made, or a particular account to be debited with the amount; or 2. A statement of the transaction which gives rise to the instrument. But an order or promise to pay out of a particular fund is not unconditional.
Page 362 - Where an incomplete instrument has not been delivered it will not, if completed and negotiated, without authority, be a valid contract in the hands of any holder, as against any person whose signature was placed thereon before delivery.
Page 370 - Where the instrument is not payable on demand, presentment must be made on the day it falls due. Where it is payable on demand, presentment must be made within a reasonable time after its issue, except that in the case of a bill of exchange, presentment for payment will be sufficient if made within a reasonable time after the last negotiation thereof.
Page 382 - A bill must be protested at the place where it is dishonored, except that when a bill drawn payable at the place of business, or residence of some person other than the drawee, has been dishonored by nonacceptance, it must be protested for nonpayment at the place where it is expressed to be payable, and no further presentment for payment to, or demand on, the drawee is necessary.