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rm of promi

om or to whose order the note is made payable. Negotiable in a commercial sense means transferable, and a negotiable note is a note which can be transferred from one person to another. A note to be made negotiable must contain the word bearer or the word order-that is, it must be payable ei

llustrate to students the fact that there are a great many special forms

th of March, 1897." The common custom is to make notes payable a certain number of days or months after date. A note made or issued on Sunday is void. The day of maturity is the day u

e filled out on

es, are not necessary legally. Thousands of good notes

must be unconditional. It cannot be made

deservedly hard reputation. However, there are all grades and shades of accommodation paper, though it represents no actual business transaction between the parties to it, and rests upon no other foundation than that of mutual agreement. No contract is good without a consideration, but this is only true between the o

rm for a pro

s the words with interest appear on the face. Notes draw

t a bank, or at any other place, must be presented for payment at the place named. When no

hen a note is drawn days after date the actual days must be counte

ter of the loan, or the state of the money market. For ordinary commercial paper the rates run from four to eight per cent.