Negotiable Instruments

Negotiable Instruments

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This historic book may have numerous typos and missing text. Purchasers can usually download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1922 edition. Excerpt: ...hour. If sent by mail it must be mailed in time to reach the party to be notified in the normal course of business on the next day following. It makes no difference that it does not reach him, all that is necessary is that it shall be mailed so that it normally would. If given at the place of business it must be before the close of business hours; if made at the residence of the party to be notified, any time before the usual hour of retiring is sufficient, and the same distinction between place of business and place of residence is important if the notice is sent by mail. Supposing the usual hours of business close at 5 o'clock, a notice by mail addressed to the place of business would have to be mailed so as normally to reach the party before that hour, whereas if addressed to the home of the indorser the notice would have to be mailed in time, if by the normal course of post, to reach the indorser's residence by 6 or 7 o'clock. EFFECT OF SUNDAYS AND HOLIDAYS AND SATURDAYS.--The question may be raised how a holiday or Saturday affects this question. The Act provides broadly, in Section 194, that anything that is required to be done on Sunday or a holiday may be done on the next succeeding business day. We suppose, therefore, that the period for giving notice is extended by this provision so far as holidays and Sundays are concerned, but there is no such general provision as to Saturday. There is a provision as to presentment of notes maturing on Saturday (Section 85), but there is none in regard to notice on Saturday. It would seem, therefore, that the general rule as to notice on any ordinary day would also be applicable to Saturday, except that a notice required to be mailed so as to arrive, in normal course of mail, during business...
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Product details

  • Paperback
  • 189 x 246 x 6mm | 213g
  • United States
  • English
  • black & white illustrations
  • 1236669991
  • 9781236669995