. Rowe's bookkeeping and accountancy : complete text, presenting the art of bookkeeping in accordance with the principles of modern accountancy . most states special statutes provide that such papers can be transferredby assignment, though the transferee gets no better title to the paper than the origi-nal holder has. 579. Transfer. When a payee transfers a negotiable note or acceptance, hedoes so by writing his name across the back, and then delivers the paper to the en-dorsee. This is known as an endorsement. When a note is transferred, the payeebecomes the first endorser; when an acceptance
. Rowe's bookkeeping and accountancy : complete text, presenting the art of bookkeeping in accordance with the principles of modern accountancy . most states special statutes provide that such papers can be transferredby assignment, though the transferee gets no better title to the paper than the origi-nal holder has. 579. Transfer. When a payee transfers a negotiable note or acceptance, hedoes so by writing his name across the back, and then delivers the paper to the en-dorsee. This is known as an endorsement. When a note is transferred, the payeebecomes the first endorser; when an acceptance is transferred, he becomes the secondendorser, unless the draft is drawn by him in his own favor, when he is the firstendorser. 579a. When commercial paper is made payable tobearer, it is not neces-sary for the holder to endorse it when transferring it to another, but for prudentialreasons it is generally requested and usually required. The different forms ofendorsement are shown on another page. The endorsements shown apply notonly to notes and drafts but to checks and all forms of negotiable paper. 180 BOOKKEEPING AND ACCOUNTANCY ■^/.r- ^7~ ^ :::=^^-^^-^:A^C€^^^y^^^=X4L^y^y- .r^ ^ y-^^. {J(9U^/. ^^^ Mil ^Sf«, 580. A check is a written order directing a bank or banker to pay money asstated therein. It is presumed that the party writing the check has funds on depositagainst which he issues the check. A check is, in reality, no different from a sightdraft except in form, the drawee being a bank instead of an individual firm orcorporation. Certified Check. ^V:rV 8^ CO. IXXLAJL, Et»X/*LXK, RKTVXEMO ScltXiA-fi^. ^ar TO rrax: order TO The Fou
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