The Government Class Book Part 51

--4. How far is a princ.i.p.al bound by the acts of a general agent? What is a general agent?

--5. How far is an agent bound to his princ.i.p.al? In what case may he depart from his instructions?

--6. By what rule is he to be governed?

--7. What degree of diligence and skill must he exercise? What is ordinary diligence? Reasonable skill?

--8. In what cases is an agent responsible to the person with whom he deals? In what case is a princ.i.p.al liable for goods bought by an agent in his own name?

--9. What is a broker? His ordinary business? In what does he differ from a factor?

--10. What is a lien? For whose benefit is the right intended? How their right restricted?

Chapter LIX.

--1. Define partnership?

--2. In what cases does the act of one partner bind all, and in what does it not?

--3. What cases of a.s.sociation are here mentioned that are not partnerships?

--4. How are they to sue and be sued?

--5. What cannot a partner do without the consent of all? What may dissolve a partnership at any time? --

--6. Why should notice of dissolution be published when any partner withdraws? How else may he become liable?

--7. How are limited partnerships formed?

--8. For what amount are the special partners liable? Whose names are used For what are the general partners liable? If the partnership is to be dissolved by the act of the parties, what is to be done?

Chapter LX.

--1. What is a promissory note? Give a form.

--2. What is the effect of inserting "or bearer," or, "or order"? If payable to order, how is it made negotiable? Why is a note called negotiable? If not negotiable, how is it to be sued?

--3. What is a blank indors.e.m.e.nt? A full indors.e.m.e.nt? What is sometimes done in case of a blank indors.e.m.e.nt?

--4. Show, by example, the benefit of making a note payable to order instead of to bearer.

--5. Why are the words "value received" inserted? Is a note without these words collectable?

--6. In what different ways may notes signed by two or more persons be written, to be joint, or joint or several?

--7. By Whom may a negotiable note be sued? In what case can a holder of a note recover upon it, though he received it of a person who had stolen it?

--8. To what rule is this an exception? Why is this exception?

--9. On the other hand, what is required to protect the owner? What should the owner do?

--10. What is the risk in buying a note after it has become due? How is it when no day of payment is expressed? What regulation exists in New Jersey and Pennsylvania?

--11. What is the law respecting notes payable in some commodity?

--12. When do notes payable on demand, or in which no time of payment is mentioned, become due and suable? Notes payable at sight, or after sight? If the words "with interest" are omitted, when does interest commence? If payable on demand, when?

--13. What are days of grace? How do they affect a note?

--14. To bind an indorser, when must payment be demanded?

--15. If payment is refused, how and when is the indorser to be notified?

--16. In case the maker's residence is unknown, how is payment to be demanded?

--17. State the effect of the different modes of guarantying notes.

Chapter LXI.

--1. What is a bill of exchange? Give a form.

--2. What are foreign bills of exchange? Inland?

--3. Give an example of its operation and effect?

--4. How is a bill accepted? How is the acceptor liable? How is payment demanded?

--5. When must bills payable at sight, or a certain day after sight, or after date, be presented for acceptance? When presented for payment?

--6. What is the nature of a bank check?

--7. What is the business of a notary public? Define _protest_.

--8. What is said of protesting inland bills of exchange?

--9. What is interest?

--10. Give the rates of interest in the different states. What is it in this state?

--11. What is usury? What is the forfeiture for taking usury in this state?