Studies in Civics Part 42

How many parties may there be to a note? How many, at least, must there be? As between them, must there be consideration to make it binding? Must the words "for value received" appear on the note? A note being a contract, what things are necessary to make it binding? Write two valid notes in different forms. Write a negotiable note transferable without indors.e.m.e.nt. A note transferable by indors.e.m.e.nt. Which is safer to carry in the pocket? Why? Which imposes the less responsibility if transferred?

If you were taking a note payable to bearer, would you require the person from whom you were getting it to indorse it? A man has some non-negotiable notes; if he dies can his heir collect them? A note payable "to order" is indorsed in blank; to whom is it payable? May a note payable "to bearer"

be made payable only "to order?" When does a note cease to be negotiable?

Under what circ.u.mstances may a person have to pay a note which he has already paid? What is a "greenback?"

How many persons, at least, must there be to an accepted draft? When does the responsibility of the drawer begin? That of the person drawn upon? How does the acceptance of a draft affect the responsibility of the drawer? If the draft is not accepted, to whom shall the holder look for pay? Are drafts negotiable before acceptance?

Compare and contrast a note and a draft. A draft and a check. Is the bank under any obligation to the holder of an uncertified check? Does certifying a check release the drawer of it? Are checks negotiable?

What responsibility does an indorser a.s.sume in case of a note? Of an unaccepted draft? Of an accepted draft? Of a check? What does "without recourse" mean? To how many persons is the maker of a note responsible?

The first indorser? The second? How can the first indorser be distinguished from the second? To whom is the second indorser not responsible?

Who are not responsible to the holder of a negotiable paper unless notified? Who are responsible without notice? What principle do you discover? When is a demand note due? A check? A time note? A sight draft?

A time draft?

What should you do, and why, in the following cases:

1. When you pay a note? 2. When you make a partial payment on a note? 3.

If you should lose a note? 4. If you have a note without indorsees, to render the maker responsible? 5. If you hold a note having indorsers, to render the indorsers responsible? 6. If you hold an unaccepted draft? 7.

In case acceptance is refused? 8. If you hold an accepted draft? 9. If the acceptor fails to pay when the paper becomes due? 10. If you hold an uncertified check, in order to render the drawer responsible? 11. If it is indorsed, to make the indorsers responsible? 12. If you have a certified check, to make the bank responsible? 13. If you are a third indorser of a note, whom can you hold responsible in case the paper is dishonored, and how? 14. If you have a bearer note and you wish to transfer it without a.s.suming responsibility? 15. How if it is an order note?

APPENDIX A.--FORMS.

TOWN BUSINESS.

_I. Organization of a Town._

PEt.i.tION.

To the board of county commissioners of the county of __________,__________ : The undersigned, a majority of the legal voters of congressional township number ______ north, of range number ______ west, in said county, containing not less than twenty-five legal voters, hereby pet.i.tion your honorable board to be organized as a new town under the township organization law, and respectfully ask that you forthwith proceed to fix and determine the boundaries of such new town and to name the same (giving the proposed name.)

(Dated, and signed by a majority of all the legal voters in the town.)

COMMISSIONERS' REPORT.

State of __________, county of __________, ss.

Upon receiving a pet.i.tion of a majority of all the legal voters of congressional township number ______ north, of range number ______ west, in said county, asking that the same be organized as a new town under the township organization law, to be named __________, we, the county commissioners of said county did, on the ______ day of A.D. 18______, proceed to fix the boundaries of such new town and name the same __________, in accordance with the said pet.i.tion, and designated __________ as the place for holding the first town meeting in such town, to be held on __________, 18______. The boundaries of said town of __________, as fixed and established by us, are as follows: (Beginning at the southeast corner of section ______, town ______ north, of range ______ west, thence west on the township line ______ to the southwest corner of section ______, town and range as aforesaid, thence north, &c., giving the boundary lines complete.) Given under our hands this ______ day of __________, 18______.

[Auditor's official seal.]

(Signed by the Commissioners.)

Attest: O.J., County Auditor.

II. Elections.

NOTICE OF ANNUAL ELECTION.

Notice is hereby given, that on Tuesday, the ______ day of November, 18_____, at ___________, in the election district composed of the __________, in the county of __________, and state of __________, an election will be held for (here name the state, judicial, congressional, legislative and county officers to be elected); (if const.i.tutional amendments are to be submitted, add:) also the following amendments to the const.i.tution of the state will be submitted to the people for their approval or rejection, viz.: amendment to section _____, article _____, of the const.i.tution (naming each one proposed); (and if any special matters, such as removal of county seat, &c., are to be voted on, then specifically state them); which election will be opened at nine o'clock in the morning, and will continue open until five o'clock in the afternoon of the same day, at which time the polls will be closed.

Dated at ________ this _____ day of October, 18____.

C.O.S., Town Clerk (or City or Village Recorder.)

REGISTER POLL LIST.

List of qualified electors in the election district composed of the __________ of __________, in the county of __________, and state of __________, for an election to be held in the said election district, on Tuesday, the _____ day of November, 18_____:

Adams, James | Little, Joseph Babc.o.c.k, George | Mann, Oscar.

(Write the surnames in alphabetical order, and leave sufficient s.p.a.ce between the alphabetical letters to insert all additional names.)

Notice is hereby given that the undersigned judges of election of said election district, will be present at the __________, in said __________, at the times named below, for the purpose of making corrections in the foregoing list, viz.: On "Wednesday, October _____, and (here insert the days and times of the day they are to meet), from 9 o'clock A.M. till 4 o'clock P.M. of each day, and also on the morning of election day, from 7 o'clock A.M. to 9 o'clock A.M."

Given under our hands this _____ day of October, 18_____.

(Signed by all the judges of election.)

MINUTES OF TOWN MEETING.

At the annual (special) town meeting held in the town of __________, county of __________, state of __________, at _____, on the day of _____, 18 _____, the meeting was called to order by R.G., town clerk. M.J.H. was then chosen to preside as moderator of the meeting.

The moderator, at the opening of the meeting, stated the business to be transacted and the order of the same as follows: That the business to be transacted would be to elect three supervisors, &c., (stating the officers to be elected,) and to do any other business proper to be done at said meeting.

That said business would be entertained in the following order: 1st--The election by ballot of town officers, the polls to be kept open throughout the day. 2d--At one o'clock P.M., election of overseers of highways for each road district in the town. 3d--That immediately following the election of overseers of highways the general business of the town would be taken up and proceeded with until disposed of.

Proclamation of opening the polls was then made by the moderator and the polls opened and the election of town officers proceeded.

The hour of one o'clock P.M. having arrived and the general business of the town being now in order, the following named persons were elected, by ayes and noes, overseers of highways for the ensuing year in the following road districts, viz.: (here give the numbers of the road districts and the names of the persons elected overseers thereof.)

A.B. was elected poundmaster of said town. On motion, ordered that a pound, &c., (give the location, cost, &c., of pound, if ordered.)

The following three places were determined and designated by the voters present as the most public places in said town for the posting up of legal notices, and suitable posts for such purpose were ordered to be erected or maintained by the supervisors at each of such places, viz.: (describe the places.)

The supervisors submitted to the electors a report of all the places at which guide posts are erected and maintained within the town, and of all places at which, in their opinion, they ought to be erected and maintained. Thereupon, it was ordered that guide posts be erected and maintained at the following places, viz.: (describe the places.)

The town clerk read publicly the report of the board of auditors, including a statement of the fiscal concerns of the town and an estimate of the sum necessary for the current and incidental expenses of the town for the ensuing year.