omise to pay one
hundred dollars.--William Jones. 6. One year after date, I promise to pay
to John Smith one hundred dollars.--William Jones. 7. Mankato, Minn.,
December 11, 1888. One year after date I promise to pay John Smith one
hundred dollars. 8. On the death of his father, I promise to pay John
Smith one hundred dollars.--William Jones. 9. On March 5, 1890, I, William
Jones, promise to pay John Smith one hundred dollars.

How many parties may there be to a note? How many, at least, must there
be? As between them, must there be consideration to make it binding? Must
the words "for value received" appear on the note? A note being a
contract, what things are necessary to make it binding? Write two valid
notes in different forms. Write a negotiable note transferable without
indorsement. A note transferable by indorsement. Which is safer to carry
in the pocket? Why? Which imposes the less responsibility if transferred?
If you were taking a note payable to bearer, would you require the person
from whom you were getting it to indorse it? A man has some non-negotiable
notes; if he dies can his heir collect them? A note payable "to order" is
indorsed in blank; to whom is it payable? May a note payable "to bearer"
be made payable only "to order?" When does a note cease to be negotiable?
Under what circumstances may a person have to pay a note which he has
already paid? What is a "greenback?"

How many persons, at least, must there be to an accepted draft? When does
the responsibility of the drawer begin? That of the person drawn upon? How
does the acceptance of a draft affect the responsibility of the drawer? If
the draft is not accepted, to whom shall the holder look for pay? Are
drafts negotiable before acceptance?

Compare and contrast a note and a draft. A draft and a check. Is the bank
under any obligation to the holder of an uncertified check? Does
certifying a check release the drawer of it? Are checks negotiable?

What responsibility does an indorser assume in case of a note? Of an
unaccepted draft? Of an accepted draft? Of a check? What does "without
recourse" mean? To how many persons is the maker of a note responsible?
The first indorser? The second? How can the first indorser be
distinguished from the second? To whom is the second indorser not
responsible?

Who are not responsible to the holder of a negotiable paper unless
notified? Who are responsible without notice? What principle do you
discover? When is