prove the true date. The facts constituting the cause of action are in such case stated as follows: (Title.) (Commencement.) I. That the defendant, at the city of New York, on the 8th day of June, 1865, made his promissory note in writing, bearing date, by mistake, on the 8th day of January, 1865, whereas, in truth, it was intended to bear date on the said 8th day of June, and delivered the same to plaintiff, of which the following is a copy : "$500. NEW YORK, January 8, 1865. "One month after date, I promise to pay John B. Astor, or order, five hundred dollars, value received. WILLIAM BLAKE." II. That there is now due to plaintiff thereon, from defendant, the sum of five hundred dollars, with interest from the 11th day of July, 1865. The date is important, for the purpose of ascertaining the time of payment. If it is without date, the time will be computed from the day the note was made. If that cannot be ascertained, then the time is computed from the first day its existence can be established. 3. The time of payment should be stated in the note or bill. If no time of payment is stated, it is payable on demand. The time of payment must be a period of time which must inevitably happen, in order to bring it within the statute. The following has been decided to be not a good promissory note within the statute, on the ground of uncertainty as to the time of payment: $500. NEW YORK, June 8, 1865. I promise to pay John B. Astor five hundred dollars when he shall become of age, value received. WILLIAM BLAKE. The following is a good promissory note within the 3. What further should be stated in the bill or note? If no time is stated? What is necessary, as to the time of payment, to bring it within the statute? What form of promissory note has been decided to be not within the statute, on the ground of uncertainty as to the time of payment? What form has been decided to be within the statute? It the promise be to pay a certain sum at the death of the payee, or of statute, as it will become payable on the 8th day of June, 1867, whether the payee be living or not: $500. NEW YORK, June 8, 1865. I promise to pay John B. Astor, when he becomes of age, to wit, on the 8th day of June, 1867, five hundred dollars, value received. WILLIAM BLAKE. A written promise to pay a certain sum of money at the death of payee, or of some other person, or at a fixed time thereafter, is a valid promissory note within the statute, because it must inevitably become due at some future time, although the precise time is uncertain. To the time stated in the instrument days of grace are usually added in computing the time of payment. 4. There must be an express promise to pay upon the face of the promissory note. The phrases, "I promise to pay to," "I promise to be responsible to," "I promise to pay, or cause to be paid to," "I promise that A. B. shall receive," are equally valid in legal effect. The mere acknowledgment of indebtedness in writing, without an express promise to pay the debt, is not sufficient to constitute a promissory note within the statute. Such an acknowledgment is frequently made in an abbreviated form, as follows: John B. Astor, NEW YORK, June 8, 1865. I O U $500 WILLIAM BLAKE. An acknowledgment of a debt in this form is called an I O U. It is simply evidence of an account stated. It some other person? What is added to the time stated in the bill or note? 4. Where must the promise appear? What form of promise may be used? If it be only an acknowledgment of indebtedness, without an express promise? In what form is such an acknowledgment made? What is the acknowledgment of a debt in this form called? If an I OU contain a promise to pay? Give a form which would be within the statute? Is there any precise language for the order? If the does not amount to a promissory note. But if an I O U contains a promise to pay, it will be a promissory note within the statute. The following I OU is a valid promissory note within the statute: John B. Astor, NEW YORK, June 8, 1865. I OU $500, payable July 4th, 1865. WILLIAM BLAKE. The order in a bill of exchange may be varied. If the language be that the drawer requests the drawee to pay to the payee a certain sum of money, the language of the bill must import a request as a right, and not as a favor. A bill of exchange must demand a right, and not merely ask a favor. 5. The person to whom commercial paper is made payable must be clearly expressed upon the face of the paper, or be positively identified by the language used. Parol evidence is not admissible to show to whom it is payable. A promissory note payable to the order of John B. Astor, is payable to John B. Astor or order. When made payable to bearer, it is payable to the person who is or may be the bearer. The following is a good promissory note: Received, New York, June 8, 1865, of John B. Astor, five hundred dollars, which I promise to pay in one month. WILLIAM BLAKE. Commercial paper may be signed, leaving a blank for the payce's name. It may be filled up by any bona-fide holder, with his own name as payee. language be that the drawer requests the drawee to pay, what must be the nature of the request? What must a bill of exchange demand? 5. Is it necessary that the payee be clearly expressed in the note or bill? Is parol evidence admissible to show to whom it is payable? If made payable to the order of John B. Astor? When made payable to bearer? What is the form of a receipt, which amounts to a promissory note? If the commercial paper be signed in blank, as to the payee's name? 6. In commercial paper within the statute, the exact amount to be paid must be stated, and it must not be accompanied by any language which may make it more or less. If the sum expressed in the margin of the bill or note differs from the sum expressed in words in the body of the instrument, the words are deemed the true sum; and parol evidence cannot be given to show that the sum intended is the sum mentioned in figures in the margin. 7. In commercial paper within the statute, it is immaterial whether the words "value received" be inserted or not. The law raises the presumption that it is founded on a valuable consideration, even when those words are omitted. In commercial paper not within the statute, the words "value received" must be inserted, to raise the presumption of value, and to cast the burden of proof upon the defendant, to show that it was given without value. 8. Commercial paper may be made by one or by sev eral persons. When made by more than one, it is presumed to be the joint obligation of the makers. Words of joinder are not necessary to raise the presumption that it is a joint obligation; but words of severance are necessary to produce a several responsibility. In an action upon joint commercial paper, the action must be brought against the makers jointly. If the obligation be joint and several, the action must be brought jointly against all, or severally against each. The following is a joint promissory note of all the partners: 6. What is the rule within the statute as to the amount? If the sum expressed in the margin of the bill or note differs from the sum expressed in words in the body of the instrument, which is deemed the true sum? Can parol evidence be introduced to show which was intended? 7. What is the effect of introducing the words "value received" into commercial paper within the statute? What presumption does the law raise? If the commercial paper be not within the statute? 8. By whom may commercial paper be made? When made by more than one, what is presumed? Are words of joinder necessary to raise this presumption? Are words of severance necessary to produce a several responsibility? How must the action upon joint commercial paper be brought? If the obligation be joint and several? Give the two forms $500. NEW YORK, June 8, 1865. One month after date, we promise to pay John B. Astor, or order, five hundred dollars, value received. WILLIAM BLAKE & CO. The following is also a joint promissory note of the makers: $500. NEW YORK, June 8, 1865. One month after date, we promise to pay John B. Astor, or order, five hundred dollars, value received. WILLIAM BLAKE. The following is a joint and several promissory note of both makers: $500. NEW YORK, June 8, 1865. One month after date, I promise to pay John B. Astor, or order, five hundred dollars, value received. WILLIAM BLAKE. The following is also a joint and several promissory note: $500. NEW YORK, June 8, 1865. One month after date, we jointly and severally promise to pay John B. Astor, or order, five hundred dollars, value received. WILLIAM BLAKE. The following has been frequently decided to be a joint promissory note of both makers, as to the payee and subsequent holders: $500. NEW YORK, June 8, 1865. One month after date, we promise to pay John B. Astor, or order, five hundred dollars, value received. WILLIAM BLAKE, Principal. of joint promissory notes. Give the two forms of joint and several promissory notes. Give the form signed by principal and surety. As to whom is this a joint promissory note? As between themselves, |