Template:M intro repack negotiable instrument: Difference between revisions

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You might think there is some scope for fraud here, and you might be right. There are many provisions on the Bills of Exchange act about that.
You might think there is some scope for fraud here, and you might be right. There are many provisions on the Bills of Exchange act about that.
===History: Lord Mansfield and all that===
Historian Jane Samson<ref>[https://sites.ualberta.ca/~janes/cv.htm Jane Samson at University of Alberta]</ref> wrote an excellent article in the Dalhousie Law Journal in 1988, from which some of this history is taken.<ref>[https://digitalcommons.schulichlaw.dal.ca/cgi/viewcontent.cgi?article=1518 Jane D. Samson, ''Lord Mansfield and Negotiable Instruments'' (1988) 11:3 Dal LJ 931]</ref>
In {{cite|Heylyn|Adamson}} Lord Mansfield drew a distinction betweem “inland [[bill of exchange|bills of exchange]]” where the drawee is to pay, and  “[[Promissory note|notes of hand]]” (now called [[promissory note|promissory notes]]) where the drawer is to pay (that is, drawer and drawee are the same person.
''Addressed'' promissory notes — those not made out to bearer — are bilateral arrangements, until they are negotiated to a third party, at which point they look exactly like bills of exchange — the act of “negotiating” and “drawing” being economically equivalent.

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