This historic book may have numerous typos and missing text.
Purchasers can usually download a free scanned copy of the original
book (without typos) from the publisher. Not indexed. Not
illustrated. 1898 edition. Excerpt: ...and unconditionally, a sum
of money certain, at a time specified therein," and so held a note
payable 'in current bank notes," not to be a promissory note, or
negotiable, and so are numerous other decisions familiar to the
profession. This definition has been held in our state to apply to
due bills and like papers, as implying fairly an absolute
undertaking to pay the sum named in money. See cases in note to T.
& S. Code, sec. 1956 notes under sec. 3506 of Shannon's Code.
Our act of 1702, chap. 9, and sec. 2, copied from statute of Anne,
3 & 4, ch. 9, sec. 1, Code, sec. 1956, is: "Every note whereby
the maker promises to pay money to any other person or order, or to
the order of any person, shall be deemed negotiable in the same
manner as inland bills of exchange by the custom of merchants." It
would seem from these authorities that these papers certainly are
not in form promissory notes, nor are they in substance such
instruments. They are not, nor do they fairly import, an absolute
or unconditional or direct promise to pay money on the part of the
maker or the corpora tion, to the payee. They are but orders from
two of the officers of the corporation on a third officer, the
treasurer, to pay money to the bearer or payee. They might well be
held "evidences of debt" under the second sub-section of the Code
referred to, and be the basis of a recovery, if a legal liability
was authorized to be created against the corporation by such
officers, but they do not have the character of promissory notes or
notes of hand. It is true, in the case of Powers v. Nahm, 7 Heis.,
583, this court held an acceptance by Powers of a paper in the
following form, as included in our statute: "'Thirty days after
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