BILLS OF EXCHANGE AND PROMISSORY NOTES. 63

24.

Note held non-negotiable; no endorsement of non-negotiable note. Accommo-
dation maker; not entitled to demand and notice. Extension of payment.
Prayers. Nussear v. Hazard, 148 Md. 352.

See notes to sec. 25.

25.

This section applied to writing under seal. See notes to sec. 47. Citizens'
Natl. Bank v. Custis, 153 Md. 238. And see Citizens' Natl. Bank v. Custis, 155
Md. 175.

Cited but not construed in Blacher v. Natl. Bank of Balto., 151 Md. 523.

33.

This section applied in Johnson v. Venable, 150 Md. 353.

39.

This section does not under all circumstances impose liability on one who,
without authority, signs promissory note in representative capacity. Person
signing as receiver without authority not personally liable if payee and holder
intended he should incur no personal responsibility. Southern Supply Co. v.
Mathias, 147 Md. 259.

42.

Word "precluded" in this section is synonymous with "estopped" and does
not include ratification or adoption in their strict primary meaning. Estoppel
precludes defense of forgery. Home Credit Co. v. Fouch, 155 Md. 396.

As check paid on authorized endorsement of party intended to be designated
as payee, this section not material. Prayers. Lanassa v. Griswold, 151 Md. 32.

CHAPTER III. —Consideration of Negotiable Instruments.

43.

See notes to sec. 47.

44.

Credit is valuable consideration under this section. See notes to sec. 49.
Blacher v. Natl. Bank of Balto., 151 Md. 521.
See notes to sec. 47.

47.

Negotiable Instruments Act abolished conclusive presumption of consideration
for sealed instrument otherwise negotiable. Prima facie presumption of value.
This section applied. See notes to sec. 25. Citizens' Natl. Bank v. Custis, 153
Md. 240. And see Citizens' Natl. Bank v. Custis, 155 Md. 175.

48.

When money is advanced to corporation in which appellant is interested and
in part on her credit, there is sufficient consideration for her signing note as
accommodation maker. Keiner v. Commerce Trust Co., 154 Md. 372.

To first note under this section on page 371, vol. 1, of Code, add Robinson v.
Foundry Co., 152 Md. 82.

See notes to sec. 85.

49.

Appellant deposited checks for collection in ignorance that depositary was
insolvent, and depositary deposited checks with appellee, who credited deposi-
tary and checks were later paid. Appellant sued appellee—no recovery. Entry
in bank book effective only between appellant and depositary. Endorsement in
blank. Blacher v. Natl. Bank of Balto., 151 Md. 519.

See notes to art. 66, sec. 25.