FIFTY-FIFTH CONGRESS. Sess. .lII. Ch. 47. 1899. 785 CHAP. 47.-An Act Relating to negotiable instruments within the District of ·T¤¤¤=¤'Y 12.1899- Columbia. it GENERAL PROVISIONS. ¤I{;¤¤i¤.¤¤f¤¤lz··=¤*>i¤- mcnegotiable instru- Be it enacted by the Senate and House of Representatires of the United States of America in Congress assembled. That this Act shall be known ,‘§j*;f;Q,‘,.g;*;“¤*°¤°· as the ‘• Negotiable-instruments law.” ' In this Act, unless the context otherwise requires: D¤¤¤i¤<>¤¤-
- Acceptance " means an acceptance completed by delivery or notiii- "·*•=¤°P°·¤·=·-"
cation. - •¢Action " includes counterclaim and set-out "A¤¤i<·¤-" “Bank" includes any person or association of persons carrying on "B¤¤'=·" the business of banking, whether incorporated or not. “ Bearer" means the person in possession of a bill or note which is "B¤·¤¤=-" payable to bearer. “ Bill" means bill of exchange, and “ note ” means negotiable promis-· "B¤1:" "¤·>¢¤·" so note. · . £yDelivery" means transfer of possession, actual or constructive, "D<>¤v<¤y·" from one person to another.
- • Holdcr" means the payee or indorsee of a bill or note. who is in "H<>ld•¤·"
possession of it, or the bearer thereotl ‘ _ “ indorsement” means an indorsement completed by delivery. "I¤d<>¤¤¤·>¤=·" “ instrument” means negotiable instrument. "I¤¤¢¤¤¤¤¤¢·" “lssue" means the first delivery of the instrument, complete in form, "I¤¤¤¤·" to a person who takes it as a holder. , “ Person" includes a body of persons, whether incorporated or not. "P·¤¤>¤·' “Value” means valuable consideration. "V·¤¤¤-"
- Written” includes printed, and “ writing" includes print. h"Y§'*i**~¤¤" ***1**-
The person •·primarily" liable on an instrument is the person who by En-m. prawn-ny n. the terms of the instrument is absolutely required to pay the same. All ‘“°· °“’· other parties are ·*•secondarily” liable. · _ ln determining what is a “reasonable time" or an “unreasonable “L‘R··¤·¤¤¤l>*¤ **¤•·" time," regard is to be had to the nature of the instrument, the usage of ' trade or business, if any, with respect to such instruments, and the facts of the particular ca e. Where the day, or the lust day, for doing any act herein required or l\,_f1=g;>1¤¤¤·1¤yf¤11¤ permitted to be done falls on Sunday or on a holiday, the act may be °" °' °" _ done on the next succeeding secular or business day. The provisions of this Act do not apply to negotiable instruments 0x*;;;§*:;°°'¤¤¤*• made and delivered prior to the passage hereotl` In any case not provided for in this Act the rules of the law merchant L"' '¤°'°'*•¤*- shall govern. Tru.}; I. N neorunuz INSTRUMENTS IN GENERAL. mg{gQ=;Q;°,;{*'¤· ARTICLE I. Fo2M AND INTERPBETATIGN. uf;;;? nd *¤°°*P¤· An instrument, to be negotiable, must conform to the following uirements: mltirst. It must be in writing and signed by the maker or drawer; Second. It must contain an unconditional promise or order to pay a sum certain in money; · Third. It must be payable on demand or at a fixed or determinable future time; · Fourth. It must be payable to order or to bearer; and Fitth. Where the instrument is addressed to a drawee, he must be named or otherwise indicated therein with reasonable certainty. smc, 2. That the sum payable is a sum certain within the meaning of ¤•¤~i¤w¤•¢¤•¤¤¤· this Act, although it is to be paid- First. With interest; or · ` Second. By stated installments; or vox. xxx-—-50
