ART. 13] FORM AND INTERPRETATION. 273

CHAPTER II—Negotiable Instruments in General—Form and Interpretation.

1904, art. 13, sec. 20. 1898, ch. 119.

20. An instrument to be negotiable most conform to the following
requirements:

1. It must be in writing and signed by the maker or drawer;

2. Must contain an unconditional promise or order to pay a sum
certain in money;

3. Must be payable on demand, or at a fixed or detenninable future
time;

4. Must be payable to order or to bearer; and

5. Where the instrument is addressed to a drawee, he must be named
or otherwise indicated therein with reasonable certainty.

Ibid. sec. 21. 1898, ch. 119.

21. The sum payable is a sum certain within the meaning of this
act, although it is to be paid:

1. With interest; or

2. By stated instalments; or

3. By stated instalments, with a provision, that upon default in
payment of any instalment or of interest, the whole shall become due;
or

4. With exchange, whether at a fixed rate or at the current rate; or

5. With costs of collection or an attorney's fee, in case payment shall
not be made at maturity.

Ibid. art. 13. sec. 22 1898, ch. 119

22. An unqualified order'or promise to pay is unconditional within
the meaning of this act. though coupled with:

1. An indication of a particular fund out of which reimbursement
is to be made, or a particular account to be debited with the amount; or

2. A statement of the transaction which gives rise to the instrument.
But an order or promise to pay out of a particular fund is not uncon-
ditional.

Ibid, art 13. sec. 23. 1898. ch 119.

23. An instrument is payable at a detenninable future time, within
the meaning of this act. which is expressed to be payable:

1. At a fixed period after date or sight; or

2. On or before a fixed or determinable future time specified therein;
or

3. On or at a fixed period after the occurrence of a specified event,
which is certain to happen, though the time of happening be uncertain.

An instrument payable upon a contingency is not negotiable, and the
happening of the event does not cure the defect.
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