yaml2mindmap/data/nego.yaml
Marvin Sanchez 5765570617 first upload
2016-08-19 08:53:01 +08:00

325 lines
10 KiB
YAML

negotioable\ninstruments\nlaw:
negotiability (section 1):
childrenDirection:down
W - written instrument signed by maker or drawer
U - unconditional promise or order\n to pay certain sum of money
P - payable on demand or at a determinable future time
O - rder or bearer
N - when ADDRESS to a drawee\n NAMED or indicated with certainty
features:
negotiability:
pass from hand to hand similar to money as to give the\nholder in due course right to hold free from defenses
accumulation of contracts:
as negotiated, as series of juridical ties arise
promissory note (184):
unconditional promise in writing
made by one person to another
signed by the maker
engaging to pay on demand or at a fixed determinable future time
a sum certain in money
to bearer or order.
where drawn to the maker's own name, not complete until endorsed
bill of exchange (126):
order in writing
addressed to a another
signed by the person giving it
requiring person whom it is addressed
to pay on demand or at a fixed determinable..
a sum certain in money
bill may be treated as note when:
name:bill_as_note
drawer, drawee same person
fictitious drawee
drawee no capacity to contract
instrument is ambiguous
stated installments:
dates must be fixed or determinable
amount stated
payable on demand:
when so expressed
no time fixed
when issued, accepted, indorsed when overdue\nas to such person so issuing...
payable to bearer:
when so expressed
when payable to a person named OR BEARER
fictitious or non-existing person
does not purport to be the name of a person ie. CASH
last indorsement is an indorsement in blank
... NOT negotiable when payable to a specified person
negotiation:
transfer such as to constitute the transferee a holder
if bearer, by delivery:
may however be indoresed specially
bearer instrument, always bearer
indoresment:
qualified - without recourse
restrictive:
childrenDirection:down
pay to x only - prohibits further negotiation
pay to x for collection - constitutes indorsee as agent
pay to x in trust of y - vests the title in trust
holder:
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payee or indorsee in possession of the instrument
holder in due course has taken the instrument:
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C - complete and regular upon its face
O - received before over due, no knowledge of previous dishonor
V - acquired in good faith and for value:
consideration sufficient to support a contract
N - no notice of infirmity or defect of title:
circumstances should have put him in inquiry
holder not in due course:
may sue thereon
payment discharges
but subject to personal defenses
exception Section 58:
a holder who is not a holder in due course but one\nderiving title from an HDC
forgery:
direction:left
childrenDirection:down
REAL defense
forged signature is wholly inoperative:
no right to retain
no right to give discharge
or enforce payment thereon
but not the instrument itself
and not the genuine signatures
not liable:
person,including indorsee\nwhose signature is forged
persons prior him also not liable
payment on such forged indorsement is not to the DRAWER's ORDER
exception:
parties who warrant; acceptors, indorsers
precluded from settin up forgery:
negligence
if bearer instrument:
persons who indorse are liable to those\nwho acquire title through their indorsement
M - A specificially to B in blank to - C - D:
childrenDirection:down
D did not acquire title through A & B's indorsement
ratified
effects of (14 15 16):
direction:left
framed:true
childrenDirection:down
incomplete but delivered (SECTION 14):
_class:style2
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wanting any material particular:
person in possession has prima facie authority to complete
a signature on a blank:
delivered by a person making, prima facie authority to fill
in both cases:
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instrument must be filled in accordance with authority given
and within reasonable time
hdc:
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may enforce as if filled strictly according to authorithy\nand within reasonable time
DELIVERY is CONCLUSIVELY PRESUMED
nhdc:
may enforce against parties subsequent to completion
personal defense
non-delivery of incomplete instrument (SECTION 15):
real defense
incomplete and undelivered, not valid in the hands of ANY HOLDER:
even against an HDC
subsequent indorsers - liable for their warranty
delivery is not conclusively presumed:
only prima facie
mechanically complete but undelivered (SECTION 16):
undelivered instrument is incomplete
in the hands of HDC, delivery is conclusively presumed
as between immediate parties, and remote not HDC:
delivery may be shown to be conditional, for special purpose, and not for transferring title
summary of rules:
1. delivery is essential to validity
2. between immediate parties, delivery must be with intent to pass title
3. incomplete and undelivery invalid as to maker
4. as to 3, in the hands of HDC, prima facie delivery
5. mechanically complete undelivered, prima facie delivery
6. as to 5, in the hands of HDC, conclusively presumed
material alterations:
changes the effect of the instrument
avoids the instrument except as to:
those made,
authorized,
assented,
subsequent indorsers
parties and liabilities:
direction:left
framed:true
childrenDirection:down
accommodation:
primarily liable
signed the instrument
as drawer, maker, acceptor, indorser
withour receiving value
for purpose of lending his name or credit
maker:
primarily liable
1. engages to pay according to the tenor
2. admits existence of payee and his capacity to indorse
acceptor:
primarily liable
1. engages to pay according to tenor
2. admits existence of drawer and authority
3. admits existence of payee and capacity
drawer:
secondary
1. admits existence of payee and his capacity to indorse
2. engages that the instrument will be accepted
3. engages that if dishonored and proper proceedings
indorser:
childrenDirection:down
Every person negotiating an instrument by\ndelivery or by a qualified indorsement warrants (SECTION 65):
childrenDirection:down
(a) instrument is genuine and in all respects what it purports to be;
(b) That he has a good title to it;
(c) all prior parties had capacity to contract;
(d) he has no knowledge of any fact which would\nimpair the validity of the instrument\nor render it valueless.
Liability of general indorser (SECTION 66):
childrenDirection:down
(a) A,B,C of 65
(b) instrument is at the time of his indorsement valid and subsisting.
1. he engages that on due presentment\nit shall be accepted or paid, or both\naccording to tenor
2. and that if it be dishonored\nand the necessary proceedings on dishonor be duly taken\nhe will pay the amount thereof to the holder\nor to any subsequent indorser who may be compelled to pay it.
presentment:
direction:left
childrenDirection:down
requisites:
place
hour
to person primarily liable
exhibit instrument, surrender if paid
not necessary:
drawer or indorser .. no right to expect ..
dispenseed with
notice to drawer:
direction:left
not necessary when:
like when bill treated as note:
name:like_bill_as_note
or countermanded payment
notice dispensed (114, 115):
as to drawer:
1. drawer, drawee same person
2. fictitious
3. drawer same person to whom ... presented for payment
4. drawer no right to expect
5. drawer countermanded payment
as to indorser:
1. drawee fictitious
2. indorser same person to whom ... presented for payment
3. when instrument is accepted for indorser's accommodation
discharge:
1. payment in due course by principal
2. or by or accommodated
3. intentional cancellation
4. other act that discharges contract for payment of money
5. principal debtor becomes holder in his own right
discharge of secondarily liable:
discharge of instrument
cancellation
discharge of prior party
agreement to extend
payment in due course:
made at or after maturity
to holder
in good faith and without notice
edges:
bill_as_note, like_bill_as_note