Volume 372, Page 274 View pdf image (33K) |
274 BILLS OF EXCHANGE AND PROMISSORY NOTES. [ART. 13 1904. art. 13, sec. 24. 1898, ch. 119.
24. An instrument which contains an order or promise to do any
1. Authorizes the sale of collateral securities in case the instrument
2. Authorizes a confession of judgment if the instrument be not paid
3. Waives the benefit of any law intended for the advantage or pro-
4. Gives the holder an election to require something to be done in
But nothing in this section shall validate any provision or stipula- Ibid. sec. 25. 1898. ch. 119.
25. The validity and negotiable character of an instrument are not 1. It is not dated; or
2. Does not specify the value given, or that any value has been given
3. Does not specify the place where it is drawn, or the place where 4. Bears a seal; or
5. Designates a particular kind of current money in which payment
But nothing in this section shall alter or repeal any statute requiring This section applied to a note under seal. Arnd v. Heckert. 108 Md. 302.
Ibid. sec. 26. 1S9S, ch. 119.
1. Where it is expressed to be payable on demand, or at sight, or on 2. In which no time for payment is expressed.
Where an instrument is issued, accepted, or indorsed when overdue, Ibid. sec. 27. 1898, ch. 119.
27. The instrument is payable to order where it is drawn payable 1. A payee who is not maker, drawer or drawee; or
2. The drawer or maker; or
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Volume 372, Page 274 View pdf image (33K) |
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