LIABILTY of drawer or endorser may be limited, 103.
when party to bill incurs no personal, 157.

antecedent is valuable consideration for a bill, 164.
of parties to bills, 309.

of acceptor to pay bill, 312.

of drawer is conditional, 315. ́

of parties to bill is usually joint and several, 316.

of endorser is conditional, 326.

of stranger signing bill, that of endorser, 316.

measure of, on dishonored bill, 329.

of party to a bill may be renounced by holder, 359.
cancelled by holder, 364.

of maker of a note, 453.

LIEN defined, 175.

holder having, deemed a holder for value, 175.

banker has, on bills for general balance. 176.

discounter of bills has, on collateral hire receipts, 176

holder having, for part is trustee for balance. 176.

notes whether promissory notes, 55.

LIEUTENANT-GOVERNOR, proclamation of holiday by, 127.
LIMITATIONS, STATUTE OF, OR PRESCRIPTION,

left to provincial law, 17.

Quebec law differs from other provinces, 17, 344.

in Quebec 5 years, 17.

in other provinces 6 years, 17.

debt barred by, may be consideration, 167.

when it begins to run, 345, 346.

law of England as to, 224, 346.

acknowledgments to take case out of statute, 346.

governed by the lex fori, 349, 398.

"LIMITED,” the word to appear on certain company bills, 138.
LIQUIDATED DAMAGES on dishonored bill, 329.

LOST BILL, protest of, may be made on copy, 301.

when loser has right to duplicate of, 378.

action on, 379.

indemnity must be given if required, 379.

LUNATIC, rule in Quebec as to bill of, 134.

bill of, voidable not void by English law, 134.

MAKER of note given for a patent right, 39.

note must be signed by, 432, 433.

note to order of, incomplete until indorsed by, 438.

there may be two or more, 440.

when jointly and severally liable, 440. 444.

of note not discharged by non-presentment, 448.
liability of, 453.

estoppel as to holder in due course, 453.

MAKER-Continued.

liability of, compared with that of acceptor, 453.

provisions as to acceptor apply to, with modifications, 454.
personal liability of, 105, 453.

corresponds with acceptor of bill, 454.

MANITOBA, former law as to bills in, 14, 17.

Married Women's Property Act in, 135.

power of corporations under statutes of, 138.
office of notary in, 304.

tariff of fees for protests in, 307.

municipal debentures, 459.

MARK, or cross, a sufficient signature, 49.

to notarial note, en brevet, 479.

MARKED CHEQUE, not used in England, 400, 405.

liability of bank on, 404, 407, 419.

MARRIED WOMAN, law of Quebec as to, 134.

bill or note in Quebec for husband's debt null, 134, 136.
law of other provinces as to, 135.

statutes relating to property of, 135.
illustrations of bills by, 135.

bill drawn or endorsed by, 141.

MATERIAL ALTERATION-See Alteration.

MATURITY of bill not payable on demand, 124.
mode of computing time of, 124, 128, 129.

of bill payable in a month or months, 129.
holder in due course must acquire before, 180.
holder acquiring after, takes subject to equities, 221.
of bill payable on demand, 224.

when demand bill deemed overdue, 224.

when presentment necessary to fix, 234.

presentment for payment at, 249, 250.

when bill protested for better security before, 298.

acceptor not discharged by non-presentment at, 261, 262.

payment in due course at or after, 337.

acceptor the holder at or after discharges bill, 355.

discharge of acceptor at or after, discharges bill, 357.

of bill accepted for honour, 375.

of bill determined by place of payment, 395.

of note payable on demand, 447.

maker of note not discharged by non-presentment at. 448.
MEASURE OF DAMAGES on dishonoured bill, 324, 332.

interest after maturity, 329.

MERCANTILE AMENDMENT ACT (Imp.), 109, 110.

MERGER of bill in higher security discharges it, 338.

MINOR not bound by bill, 132.

may in Quebec if emancipated or a trader, 133

ratification after majority must be in writing, 133.

other parties liable on bill drawn or endorsed by, 141.
presentment excused if drawee a, 242.

MISCARRIAGE by post office does not invalidate notice, 285.
MISDESCRIPTION of bill in notice not fatal unless misleading,

277.

of payee in bill, 68, 209.

of drawee in bill, 108.

how to be accepted, 108.

MISSPELLING, how drawee should accept in case of, 108.

of name of payee or endorsee, 209.

how payee or endorsee should indorse in case of, 209.
MISTAKE, insertion of wrong date in good faith by, 96.
cancellation of signature by, is inoperative, 365.

correcting a, not a material alteration, 371.

MONDAY, when a holiday, 127, 128.

MONEY, bill or note must be for sum certain in, 42, 51.
definition of, 51.

illustrations of what is deemed, 52.

acceptance must be for payment in, 108.

only banks to issue bills as, 54, 435.

MONTH means a calendar month, 129.

maturity of a bill payable at a month or months, 129.

MUNICIPAL ACT, Ontario, 458.

MUNICIPAL CODE, Quebec, 459.

MUNICIPAL CORPORATION-See Corporation.

MUNICIPAL DEBENTURES. 458.

NEED, CASE OF-See Referee in Case of Need.
NEGATIVED, liability to holder may be, 103.

NEGLIGENCE, bad faith is something more than, 30, 183.
may be evidence of bad faith, 30. 183.

rule in Gill v. Cubitt not now followed, 30.
bank paying crossed cheque without, 426.
"NEGOTIATED" distinguished from 'issued," 199.
NEGOTIABLE, what bills are not, 64.

bill payable to particular person formerly not, 64, 78.
bill payable to order or bearer, 67.

bill payable to particular person is, 78.
instrument defined, 199, 456.

bills and notes, 199.

when negotiable bill ceases to be so, 220.
other negotiable instruments, 456.

M'L.B.E. A.-35

NEGOTIABLE INSTRUMENTS LAW.

adoption of, 18, 480.

definition of bill, 44.

fictitious payee, 76.

non-negotiable instrument, 78.
no days of grace, 80, 125, 235.
requires acceptance in writing, 110.
referee in case of need, 103.

acceptance must be in writing, 110.

non-presentment releases, drawer and indorsers, 236, 238.
no provision like sec. 103, 282.

protest only if bill appears to be foreign, 297.

protest on day of dishonour, 300.

cheque not an equitable assignment, 311.

"in his own right" defined, 356.

certified cheque, 405.

crossed cheques not recognized, 423.

demand note a continuing security, 445, 446.

bank deposit receipts, 465.

text of New York law. 480.

how far adopted in U. S., 18, 480.
NEGOTIATION OF BILL after filling up, 100.
to holder in due course, 100, 181, 184.
in breach of faith, a defect of title, 185.
definition of, 198.

of note en brevet, 201.

payable to bearer, by delivery, 200.

to order, by endorsement, 200.

of Quebec notarial note, 201.

transfer without endorsement, 202.

requisites of endorsement to operate as, 205.
must be of whole bill, 205,

all payees or endorsees must endorse, 207.

of overdue bill, 221.

presumed to be before bill overdue, 225.

back to prior party, 225.

presentment within reasonable time after, 237.
payable to bearer without endorsing, 333.
by drawee or endorsee who has paid, 353.

in other country, rights of parties, 384.

of note payable on demand, 447.

NEW BRUNSWICK, law of England introduced into, 12, 17.
former law as to bills, 13.

provincial legislation as to bills, 13.

office of notary in, 304.

tariff of fees for protest in, 306.

NEW YEAR'S DAY, a holiday for bills, 126.

NON-ACCEPTANCE, naming referee in case of, 102.
when bill is dishonoured by, 245.

recourse against drawer and endorsers on, 245.
offer of qualified acceptance may be treated as, 246.
protest for non-payment may follow protest for, 298.
NON-BUSINESS DAYS, holidays are, 27.

not counted in delays under three days, 33.

what are in Canada, 126.

NON-EXISTING PAYEE, bill payable to bearer, 69.
NON-JURIDICAL DAY, bill dated on, valid, 88.

See Holiday.

NON-NEGOTIABLE time bills have days of grace, 126.
NON-PAYMENT-See Dishonour-Notice of Dishonour.
NORTH-WEST TERRITORIES, former law as to bills in, 16, 17.
word "province" in Act includes, 127.

Married Women's Property Act in, 135.

corporation must use the word "limited," 138.

office of notary in, 304.

tariff of fees for protests in, 307.

“NOT NEGOTIABLE," cheque may be crossed, 423, 424.

effect of special crossing, 423.

NOTARIAL ACT OF HONOUR, on payment supra protest, 377.

basis of 378.

form of, 479.

NOTARIAL NOTE, en brevet, 201, 305, 349, 479.

NOTARY PUBLIC, bank officer not to act as, 38.
must sign protest, 303.

his clerk may present bill, 303.

when justice of the peace may act as, 304.
office of, in different provinces, 304.

fees allowed to, 305.

NOTE in the Act means promissory note, 24.

See Promissory Note-Bank Notes.

NOTICE, payment after, a determinable, future time, 82.
of bill being for "patent right," 39.

acceptance of bill equivalent to delivery, 119.

of acceptance may be written or verbal, 119.

of forged endorsement to be given within a year, 143.

of limited authority implied in procuration, 152.

of party being accommodation party, when immaterial, 179.

of defect in title of party negotiating, effect of, 181.

of such defect need not be formal, 183, 185, 189.

to agent is notice to principal, 183.

of defect, what is sufficient, 184.

actual knowledge of usurious consideration necessary, 197.