so are putting
their meaning or interpretation on the words of the statute. Thus far
they have looked with quite similar eyes, and no serious differences
have arisen.

The statute declares that a promissory note must be in writing and
signed by the maker or drawer; that it must contain an unconditional
promise or order to pay a certain sum of money on demand, or at a
fixed future time to order or to bearer. And if the note is addressed
to a drawee he must be named or indicated with reasonable certainty. A
note may be written payable with interest or by stated installments,
or with exchange, or with costs of collection, or an attorney's fee in
case payment shall not be made at maturity.

An unqualified order or promise to pay is unconditional within the
meaning of the law even though it indicates a particular fund from
which it is to be paid, or a statement of the transaction on which the
note is based. Thus the indorsement of the words "per contract" on the
back of a note written at the time of its execution does not affect
its negotiability.

A note payable at a fixed future time may be at a fixed period after
date or sight, or on or before a fixed future time specified therein,
or on or at a fixed period after the occurrence of a specified event
which is certain to happen, though the time of happening be uncertain.
A note that is payable on a contingency is not negotiable, and the
happening of the event does not cure the defect. Likewise a note which
contains an order or promise to do any act in addition to the payment
of money is not negotiable. To this rule, though, are some exceptions.
Thus a note may be negotiable that authorizes the sale of collateral
securities that have been delivered to the holder if the note is not
paid at maturity. But a note stating that the title to property for
which it is given shall remain in the payee, and that he shall have
the right to declare the money due and take possession of the property
whenever he may deem himself insecure "even before the maturity of the
note," is not negotiable.

Again, the validity and negotiable character of a note is not affected
by the fact that it is not dated, or does not specify the value given
or the place where it is drawn, or the place where it is payable, or
bears a seal, or designates a particular kind of current money in
which payment is to be made. Furthermore, a note is payable on demand
when it is thus stated, or is payable at sight or o