The law of bills, notes and checks . Glens Falls, N. by the manager of the bank for the purpose of aiding its clerk in keep-ing the bank records, does not constitute an alteration which wiU relievethe indorser from liability. Merchants Bank v. Brown, 86 App. Div. 599; Struthers v. Kendall,41 Penn. St. 214; Daniel Neg. Inst. (5th ed.) 1399. BILLS OF exchange; FORM AND INTEBPBETATION 295 ARTICLE IIBills of Exchange; Form and Interpretation Section 210, Bill of exchange defined. 211. Bill not an assignment of funds in hands of drawee. 212. Bill addressed to more than one drawee. 213. Inlan
The law of bills, notes and checks . Glens Falls, N. by the manager of the bank for the purpose of aiding its clerk in keep-ing the bank records, does not constitute an alteration which wiU relievethe indorser from liability. Merchants Bank v. Brown, 86 App. Div. 599; Struthers v. Kendall,41 Penn. St. 214; Daniel Neg. Inst. (5th ed.) 1399. BILLS OF exchange; FORM AND INTEBPBETATION 295 ARTICLE IIBills of Exchange; Form and Interpretation Section 210, Bill of exchange defined. 211. Bill not an assignment of funds in hands of drawee. 212. Bill addressed to more than one drawee. 213. Inland and foreign bills of exchange. 214. When bill may be treated as promissory note. 215. Referee in case of need. § 210. Bill of exchange defined. A bill of exchange isan unconditional order in writing addressed by one person^toanother, signed by the person giving it, requiring the person towhom it is addressed to pay on demand or at a fixed or deter-minable future time a svim certain in money to order or tobearer. Bill of ^S: Bill of exchange is usually drawn against commodities sold anddelivered or about to be delivered by the drawer to the drawee, but thisis not necessarily so. It is usually drawn against a deposit of money,although it may be drawn and accepted as an accommodation by thedrawee. Until a bill of exchange is accepted the drawer is as between the 296 NEGOTIABLE INSTRUMENTS LAW parties, the one primarily liable on it. After acceptance the acceptorbecomes the one primarily liable followed by the drawer and indorsersin their order. The holder, however, does not have to recognize this orderof liability. He may proceed against any or all of them irrespective oftheir liability among themselves, or the order in which their names drawer warrants to the indorsers and to the holder that the draweewill accept and pay and if the drawee does not, that he, the drawer, willpay if the bill is duly and properly presented and protested. Each indorserwarrants
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