Page:United States Statutes at Large Volume 31.djvu/1447

 FIFTY-SIXTH CONGRESS. Sess. II. Ch. 854. 1901. 1395 Sec. 1303. DISTRIBUTION or DAMAGES.··—ThB damages recovered in &Q§°’“>“°i°¤°‘d¤m· such action shall not be appropriated to the payment of the debts or g ` liabilities of such deceased person, but shall inure to the benefit of his or her family and be distributed according to the provisions of the statute of distribution in force in the said District of Columbia. CHAPTER FORTY-SIX. NEGOTIABLE INSTRUMENTS. mgggetieble i¤S¤¤- Sec. 1304. I)EFINITIONS.·-1Il this chapter, unless the context other- D¤¤¤i¤¤¤¤- wise requires—- y "Acceptance” means an acceptance completed by delivery or notiiication. "Action " includes counterclaim and set-off. " Bank" includes any person or association of persons carrying on the business of banking, whether incorporated or not. I "Bearer" means the person in possession of a bill or note which is payable to bearer. " Bill” means bill of exchange, and "note" means negotiable promissory note. " Delivery " means transfer of possession, actual or constructive, from one person to another. " Holder " means the payee or indorsee of a bill or note, who is in possession of it, or the bearer thereof. "Indorsement” means an indorsement completed by delivery. ‘s‘·Instrument" means negotiable instrument. " Issue " means the first delivery of the instrument, complete in form, to a person who takes it as a holder. “Person” includes a body of persons, whether incorporated or not. " Value" means valuable consideration. "Written” includes printed, and "writing” includes print. The person "primarily" liable on an instrument is the person who by the terms of the instrument is absolutely required to pay the same. All other parties are " secondarily" liable. ` In determining what is a "reasonable time " or an "unreasonable time” regard is to be had to the nature of the instrument. the usage of trade or business, if any, with respect to such instruments, an the facts of the particular case. Where the day or the last day for doing any act herein required or OI;”,1’g${(§J§S*d¤>’ mls permitted to be done falls on Sunday or on a holiday, the act may be " done on the next succeeding secular or business day. In any case not provided for in this act the rules of the law merchant LW msrchmshall govern. _ _ Sec. 1305. WHEN NEGOTIABLE.·—AH instrument to be negotiable nQg02,§§,9_"‘S*"‘m*"i must conform to the following requirements: V First. It must be in writing and signed by the maker or drawer. Second. It must contain an unconditional promise or order to pay a certain sum in money. " Third. It must be payable on demand or at a fixed or determinable future.time. Fourth. It must be payable to order or to bearer; and, Fifth. Where the instrument is addressed to a drawee he must be named or otherwise indicated therein with reasonable certainty. - _ Sec. 1306. SUM rAYABLE.—The sum payable is a sum certain within °"““‘““" *“ ‘° ’“m· the meaning hereof, although it is to be paid-- i First. With interest; or, · Second. By stated installments; or, ` Third. By stated installments, with a provision that upon default