Although unpleasant papers to have outstanding with one’s name attached
to them, at all events when that indicates, by its position, personal
liability, yet a knowledge of their leading characteristics is so
convenient in a time of a necessity which forces us, or some with whom we
may have mercantile engagements, to have recourse to them, that we think
best to insert proper forms here.
Note.
$200. PORTLAND, ME., October 1, 1883.
Thirty days after date I promise to pay to John Ray (“or order”
or “or bearer”) two hundred dollars.
Value received. JOHN J. ROE.
Draft, or Bill of Exchange.
$200. PORTLAND, ME., October 1, 1883.
At thirty days’ sight (or thirty days after date), pay to the
order of John Ray two hundred dollars—value received—and
charge same to account of
To JOHN ROE, Boston, Mass. RICHARD ROE.
If John Roe accepts of the conditions of the bill he will write his name
across its face together with the date on which it is done, prefixing
same with the word “accepted.”
In the outline analysis given below our readers will readily discover all
the essential elements of a contract, which is of course the foundation
principle of commercial paper.