§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 indorsement? A full indorsement? What is sometimes
done in case of a blank indorsement?
§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.