The act of a payee, drawee, accommodation indorser, or holder of a bill, note, check, or other negotiable in¬strument, in writing his name upon the back of the same, with or without further or qual¬ifying words, whereby the property in the same is assigned and transferred to another.
That which
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The act of a payee, drawee, accommodation indorser, or holder of a bill, note, check, or other negotiable in¬strument, in writing his name upon the back of the same, with or without further or qual¬ifying words, whereby the property in the same is assigned and transferred to another.
That which is so written upon the back ot a negotiable instrument.
One who writes his name upon a negotia-ble instrument otherwise than as a maker or acceptor, and delivers it, with his name thereon, to another person, is called an 'in-dorser," and his act is called "Indorsement* Civ. Code Cal. 5 3108; Civ. Code Dak. 5 1836.
—Accommodation Indorsement. One made
by a third person who pats his indorsement on a note without any consideration, but merely for the benefit of the holder thereof or to enable the maker to obtain money or credit on it Unless otherwise explained, it is understood to be a loan of the indorsees credit without re¬striction. Citisens' Bank v. Piatt, 135 Mich. 267, 97 N. W. 694; Peale v. Addicks, 174 Pa. 543, 34 Atl. 201; Cozens v. Middleton, 118 Pa, 622. 12 Atl. 566.—Blank: indorsement. One made by the mere writing of the indorsees name on the back of the note or bill, without men¬tion of the name of any person in whose favor the indorsement is made, but with the implied understanding that any lawful holder may fill in his own name above the indorsement if be so chooses. See Thornton v. Moody, 11 Me. 256; Scollans v. Rollins. 179 Mass. 346. 60 N. E. 983, 88 Am. St. Rep. 386; Malone v. Garver, 3 Neb. (Unof.) 710, 92 N. W. 726.— Conditional Indorsement. One by which the Indorser annexes some condition (other than the failure of prior parties to pay) to his liabil¬ity. The condition may be either precedent or subsequent. 1 Daniel, Neg. Inst. § 697.—Full indorsement. One by which the indorser orders the money to ,be paid to some particular person by name; it diners from a hlank in¬dorsement, which consists merely in the name of tbe indorser written on the back of the instrument Kilpatrick v. Heaton, 3 Brev. (S. C.) 92: Lee v. Chillicothe Branch of State Bank, 15 Fed. Cas. 153.—Irregular indorse¬ment. One made by a third person before de¬livery of the note to the payee; an indorse¬ment in blank by a third person above the name of the payee, or whea the payee does not in¬dorse at all. Carter v. Long, 125 Ala. 280, 28 South. 74; Bank of Bellows Falls v. Dorset Marble Co., 61 Vt. 106, 17 Atl. 43; Metropoli¬tan Bank v. Muller, 50 La. Ann. 127a 24 South. 295, 69 Am. St. Rep. 475.—Qualified indorsement. One which restrains or limits, or qualifies or enlarges, the liability of the in¬dorser, in any manner different from what the law generally imports as his true liability, de-ducible from the nature of the instrument Chitty, Bills, 261. A transfer of a bill of ex¬change or promissory note to an indorsee, with¬out any liability to the indorser. The words usually employed for this purpose are usan$ reooun" without recourse. 1 Bouv. Inst No. 1138.—Regular indorsement* An indorse¬ment in blank by a third person under the name of the payee or after delivery of the note to him. Bank of Bellows Falls v. Dorset Mar¬ble Co., 61 Vt 106, 17 Atl. 42—RestrictiTe indorsement. One which stops the negotia¬bility of the instrument, or which contains such a definite direction as to the payment as.to preclude the indorsee from making any further transfer of the instrument Drew v. Jac6ck; 6 N. C. 138; Lee v. Chillicothe Branch Bank, 15 Fed. Cas. 153; People's Bank v. Jefferson County Sav. Bank, 106 Ala. 524, 17 South. 728. 54 Am. St. Rep. 59. Defined by statute in some states as an indorsement which either prohibits the further negotiation of tne instru¬ment or constitutes the indorsee the agent of the indorser, or vests the title in the indorses in trust for or to the use of some,other person. Negotiable Instruments Law N. D. § 36; Bates* Ann. St. Ohio 1904, T 3172%.—Special in¬dorsement. An indorsement in full, which specifically names the indorsee. Malone v. Garver, 3 Neb. (Unof.) 710, 92 N. W. 726; Carolina Sav. Bank v. Florence Tobacco Co., 45 S. C. 373, 23 S. E. 139.—Special indorse¬ment of writ. In English practice. The writ of summons in. an action may, under Or¬der ill. 6, be indorsed with the particulars of the amount sought to be recovered in the action, after giving credit for any payment or set-off; ana this special indorsement (as it is called) of the writ is applicable in all acj tions where the plaintiff seeks merely to re¬cover a debt or liquidated demand in money payable by the defendant, with or without hv terest, arising upon a contract, express or im¬plied, as, for instance, on a bill of exchange, promissory note, check, or other simple con¬tract debt, or on a bond or contract under seal for payment of a liquidated amount of money, or on a statute where the sum sought to be recovered is a fixed sum of money or in the nature of a debt or on a guaranty, whether under seal or not Brown.
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