KEEPING ACCOUNTS. 239 



Form of a, Draft or Bill of Exchange. 

 $150 00. BUFFALO, July 1st, 1861. 



Ten days after sight, pay William Wilson, or order, one 

 hundred and fifty dollars, value received, and charge the 

 same to account of 



Yours, &c., THOMAS ANDERSON. 



To William Allen, New York. 



NOTES. A due-bill bears interest from its date ; a prom- 

 issory note not until after it is due, unless so expressed on 

 its face. 



NEGOTIABILITY. The words, " or order," " or bearer," are 

 necessary to make a check, a due-bill, a promissory note, a 

 bill of exchange, &c., negotiable ; that is, to enable the 

 holder of it to trade and pass it to another. 



When the words " or bearer" are introduced, the instru- 

 ment may then pass from hand to hand, like a bank-bill, 

 without endorsement ; but when the words " or order " are 

 used, the instrument must be endorsed by the original holder 

 of it. 



ENDORSEMENT. Endorsing a note is writing your name 

 across the back of it. Endorsements are of two kinds, an 

 endorsement in blank or general endorsement, and a special 

 endorsement. 



An endorsement in Hank is the original holder's simply 

 writing his name across the back of it. The succeeding 

 holders of it may or may not, also, endorse it. If each or 



