ACCEPTANCE-continued.

agent must produce authority, 571.

taking acceptance from unauthorized agent releases prior parties, 571.

must be signed, 572.

in blank, liability of acceptor, 572.

may be after protest, 572.

either of set may be presented for, 572.

when more than one part accepted, 572.
promise of must be unconditional, 573.

must be within reasonable time before drawing, 573.
alteration by drawee after promise of, 573.

bill must be taken on faith of promise of, 575.

authority to draw by letter, an acceptance when, 578. collateral acceptances, 565–578.

an agreement to accept, 575–578.

drawee has reasonable time to make, 579.

what drafts deemed accepted, 580.

destruction of bill by drawee, or refusal to return. 581.

date of, is prima facie evidence of time made, 581.
presumed to be made within reasonable time, 581.

general acceptance, 581.

what it admits, 600.

holder may, if he chooses, take a qualified acceptance,

582.

presumption raised by, 582.

irrevocable when, 582.

effect of conditional acceptances, 583-585.

acceptance, how construed, 586.

of bills drawn against consignments of goods, 587–589.

not to be varied by parol, 590, 591.

when may be so varied, 592.

to pay at another place, effect of, 593.

rule of pleading, where bills and notes are payable at a

particular place, 593, 599.

taking qualified acceptance, effect of on indorser and

drawer, 596.

acceptor primarily liable, like maker of a note, 597-599.

how discharged, 764.

must pay the party having the title, 599.

does not admit genuineness of body of instrument, 600.

may be revoked, when, 601.

acceptance completed by delivery, 601.

ACCEPTANCE-continued.

canceling by mistake, 601.

how waived, and how released, 602–604.
alteration of and its effect, 605.

terms of, cannot be varied by parol, 442.

conditional delivery, may be, note, 442, 443.

consideration may be inquired into, when, 440, 442. for accommodation, liability of acceptor, 447.

may be used as a security for advances, note, 319.
to pay at a particular place, presentment, 557.
the acceptor cannot inquire into consideration between
the drawer and payce, &c., note, 597.

for accommodation, presumed to be general, 451, 452.
cannot be used after acceptor's death, note, 454.
as a gift, not valid, as between whom, 456, 457.
made under duress, fraud, &c., 458, 459.
given on an executory contract, 463.

given on a condition or promise not fulfilled, 469.
given on illegal contracts, when void, 470-478.
contracts growing out of wagers, 477, 511-514.
in restraint of trade or marriage, 478–480.
given on a conspiracy against trade, 480.

to prevent competition at auction sales, 480.

secretly giving a preference on composition with creditors, 481.

by banking associations on time, illegal, 485, 486.

usuriously given, void, 488–490.

or in renewal of usurious securities, 490-492, 494.

when acceptor represents the bill to be business paper,

493.

given on stock-jobbing contracts, 514.

given on prohibited contracts, valid in whose favor,

515, 517.

remedy when given for accommodation, 522–528.

not necessary to bind the drawee, in what cases, 530,

531.

may make bill payable at a bank in same city, note, 536. but not in another city, 536.

discharged under insolvent or bankrupt laws, when, 538. a simple acceptance is an engagement to pay as directed by bill, 564.

the acceptor stands in relation to payee as does the

maker of a note, 564.

ACCEPTANCE-continued,

is not answerable on the bill till he accepts, 564.
ought to accept, in what cases, 564.

in the case of a check drawn by a customer on bank

with funds, 564.

is principal debtor, 602.

delay will not discharge, 602.

of, or certifying a customer's check, its effect, 565.

a savings bank not bound to pay unless its rules are
complied with, note, 564.

the act of an officer certifying his own check, note,

566.

an unconditional promise in writing to accept, effect of,

567, 568.

becomes a virtual acceptance, when, 567, 568.

a promise to pay a bill under law merchant, 568, 569.
of a foreign bill may be by parol under commercial law,

568.

of inland bill in England, 569.

of a bill not yet drawn, not by parol, when, 569.
regulated by statute in this and in other states, 570.

See Promissory Notes, statutes in respect to.

cannot be verbal, must be in writing, 571.

mode of making in writing, 571.

by letter of credit, when, 573, 574.

not by conditional promise, note, 573.

action on breach of promise to accept, 577.

difference between rule here and in England, 578.

quere, whether the doctrine be applicable to drafts after

sight, 578.

must be consideration for promise to accept, 579.

an offer to accept or pay, not acceded to, 579.

the drawing of a draft on oneself is an acceptance, 580.

so where one partner draws on his firm, 580.

or where one officer draws on another of same corpora-

tion, 580.

such draft may be treated as a note, note, 580.
refusal to return bill treated as an acceptance, 581.
detention of bill, not the same thing as, 581.
deemed general, unless specially limited, 582.
made on a condition, becomes absolute, when, 582.
holder not bound to take conditional acceptance, 582.

ACCEPTANCE-continued.

cases illustrating effect of conditional acceptances,

583-585.

on a conditional understanding, with security, note, 582. when the draft is payable in goods, or out of a fund, 585.

pleadings in suit on, and on like notes, 585.

construed like other writings, 586.

where bills are drawn on consignments, 587, 588.
with bill of lading attached, 588, 589.

surrender on payment, of a pledge of spurious stock,
note, 588.

right of borrower, where a larger note pledged for

payment of a smaller is paid, note, 588.

rights of parties giving or taking collaterals, 589.

cannot be varied by parol evidence, 590.

when verbal and valid, it may, 592.

acceptance of bill left blank as to amount, 591.

acceptance payable at another place, 593.

at a bank in same place, 593.

allegations in suit against acceptor, or maker of note,

593.

against indorser, 595.

holder must not take qualified acceptance, 596.

incurs what risk by doing so, 596.

by one of a firm in its name after dissolution, note, 597. binds the firm under what circumstances, note, 597. the acceptor not being a party to it, cannot interpose a breach of agreement between drawer and payee, note, 597.

admits what relation between acceptor and drawer, 597. for accommodation, the acceptor is surety for whom,

598.

not a surety as to third persons, 598.

rights of bona fide holder of paper, 598.

of party taking with notice, 598.

acceptor must not pay party in possession without

title, 599.

effect of forgery of payec's name on bill, 599, 600. or of a fictitious name as payee, 599.

admits drawer's signature, not payec's indorsement, 600.

the acceptor estopped from denying his admission,

when, 600.

ACCEPTANCE-continued.

may be recalled, or erased, till what time, 601.

erasures made by mistake, 601.

payment by acceptor by mistake, 601.

the holder may discharge acceptor, verbally in what

way, 602.

in general, the discharge must be on a consider

ation, 602-605.

modes and manner of discharge, 603–605.

of an executory contract, 604.

release of all indebtedness, all debts, or existing

demands, 604.

cannot be made by parol, when, 604.

by surrender, or by destruction, when, note, 605. torn in two pieces, picked up and negotiated afterwards, note, 605.

discounting a bill before its acceptance, note, 602. a material alteration cancels the bill, when, 605. when drawn with carelessness, note, 605.

parties liable for original amount, note, 605.

ACCEPTANCE SUPRA PROTEST, for honor, 606-614. admits genuineness of drawer's signature, 606.

nature of the contract, 606.

for the honor of an indorser, 606, 607.

for the honor of the drawer, 606.

what party paying for honor must show, 609.
action against acceptor for bonor, 608, 609.
acceptance for the honor of all the parties, 610.
duty of acceptor to notify, 611.

demand must be made on the drawee, 612.
holder not obliged to take, 613.

his duty if he does take, 614.

ACCIDENT, unavoidable, excuses demand, when, 668, 669. must be such as to prevent demand, 674.

ACCOMMODATION BILLS AND NOTES.

married woman cannot bind herself as party to, 41.

corporations as parties to, 59.

want of consideration in, between what parties,

447-456.

maker of accommodation notes, 447.