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No. 1. ALTERATION OF NEGOTIABLE INSTRU- MENTS. [T he following examination of this subject is part of a chapter of a work on Bills and Notes, for theS tudents Series, by Melville M. Bigblow, Esq. Only the more important of the cases are cited.] ANOTHER case of want of contract arises where there has been a material unauthorized alteration of the...
No. 1. ALTERATION OF NEGOTIABLE INSTRU- MENTS. [T he following examination of this subject is part of a chapter of a work on Bills and Notes, for theS tudents Series, by Melville M. Bigblow, Esq. Only the more important of the cases are cited.] ANOTHER case of want of contract arises where there has been a material unauthorized alteration of the instrument to which the defendant gave his signature. The authorities in general declare that to alter the terms, written or printed, of a negotiable note, bill, or check, after the defendants signature was written to it, is to destroy its validity against him, even in the hands of a bona fide holder for value. The reason is plain. The altered instrument is not the one he signed; and the identity of the one signed has been destroyed A material alteration within the meaning of the rule stated may be defined thus: A ny alteration (i) changing the legal effect of the instnmient; (2) made with such intent, or being a final act; (3) without consent; (4) by a party to it, or by one in lawful possession of it, is a material alteration. The divisions of the definition, as here given, will serve as basis of an analysis of the subject Wade V, Witfiington, i AU en, 561; Draper v, Waid, i Bfass. 315 ;A ldikh v. Smith, 37 Mk:h.(Typographical errors above are due to OCR software and don't occur in the book.)About the Publisher Forgotten Books is a publisher of historical writings, such as: Philosophy, Classics, Science, Religion, History, Folklore and Mythology.Forgotten Books' Classic Reprint Series utilizes the latest technology to regenerate facsimiles of historically important writings. Careful attention has been made to accurately preserve the original format of each page whilst digitally enhancing the aged text. Read books online for free at www.forgottenbooks.org
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