 | Edward Voigt, Charles Voigt - Commercial law - 1904 - 836 pages
...give it validity, and work a discharge of the nonassenting surety. When paid by secondary party.-When the instrument is paid by a party secondarily liable...subsequent indorsements and again negotiate the instrument, except: 1. Where it is payable to the order of a third person, and has been paid by the drawer; and... | |
 | Charles Monfort Lindsay - Negotiable instruments - 1904 - 204 pages
...81 NYS, 422; 81 App. Div., 593. § 121. Right of Party Secondarily Liable Who Pays Instrument. — Where the instrument is paid by a party secondarily...to his former rights as regards all prior parties (a), and he may strike out his own and all subsequent indorsements, and again negotiate the instrument... | |
 | Kentucky - Session laws - 1904 - 378 pages
...paid bv a party — wh ™- secondarily liable thereon, it is not discharged; but rights of holder. the party so paying it is remitted to his former rights...indorsements, and again negotiate the instrument, except: !'l) Where it is payable to the order of a third person, and has been paid by the drawer; and... | |
 | Kentucky - Law - 1904 - 384 pages
...Party who pays « 121. Where the instrument is paid bv a nartv may negotiate- again ' , , • ~when- secondarily liable thereon, it is not discharged;...regards all prior parties, and he may strike out his ovrn and all subsequent indorsements, and again negotiate the instrument, except: '• 1 ) Where it,... | |
 | Albert Sidney Bolles - Law - 1905 - 224 pages
...secondarily liable, or unless the right of recourse against such party is expressly reserved. SEC. 121. Where the instrument is paid by a party secondarily...indorsements, and again negotiate the instrument, except: 1. Where it is payable to the order of a third person, and has been paid by the drawer; and,... | |
 | North Carolina, Thomas Brown Womack, Needham Y. Gulley, William R. Rodman - Law - 1905 - 1412 pages
...is expressly reserved. 1899, c. 733, s. 120. 2271. Payment by party secondarily liable is not. When onor given to him. 1899, c. 733, s. 165. 2316. Maturity, how Calculated. except (1) where it is payable to the order of the third person and has been paid by the drawer; and... | |
 | Robert Emmet Bunker, Michigan - Bills of exchange - 1905 - 392 pages
...the clauses containing the exceptions, but its true meaning will be apparent by reading it thus, — Where the instrument is paid by a party secondarily...to his former rights as regards all prior parties, except; where it is made or accepted for his accommodation and has been paid by the party accommodated,... | |
 | Ernest Wilson Huffcut - Commercial law - 1905 - 360 pages
...is entitled to the possession of the instrument and may proceed upon it against all prior parties. He may strike out his own and all subsequent indorsements, and again transfer the paper if he wishes. REVIEW QUESTIONS AND PROBLEMS SECTION 94. In what sense is a negotiable... | |
 | Emilius Oviatt Randall - Negotiable instruments - 1906 - 238 pages
...Litho. Co. v. Belford, 10 Dec. 640. (1890.) 3175Z (5018) [Right of Party Who Discharges Instrument.] Where the instrument is paid by a party secondarily...subsequent indorsements, and again negotiate the instrument except : 1. Where it is payable to the order of a third person, and has been paid by the drawer; and,... | |
 | District of Columbia - Law - 1906 - 442 pages
...such party is expressly reserved. Sec. 1425. PAYMENT BY PARTY SECONDARILY LIABLE NOT A DISCHARGE. — Where the instrument is paid by a party secondarily...subsequent indorsements and again negotiate the instrument, except — First. Where it is payable to the order of a third person and has been paid by the drawer;... | |
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Where the instrument is paid by a party secondarily liable thereon, it is not discharged; but the party so paying it is remitted to his former rights... 
