208 LAWS OF MARYLAND.

20. An instrument to be negotiable must 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 determinable
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 cer-
tainty.

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 installments; or

3. By stated installments, with a provision, that upon de-
fault in payment of any installment 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 pay-
ment shall not be made at maturity.

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 reim-
bursement 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 unconditional.

23. An instrument is payable at a determinable 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 futnre 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 happen-
ing be uncertain.