Warranties 205 



of the defenses which would be valid against the 

 payee himself are destroyed. Generally speak- 

 ing, if the paper signed contain an unconditional 

 promise to pay a certain sum of money to another 

 or to his order, or to the bearer, it will bind as 

 a promissory note and be negotiable as such. 

 And it makes no difference that it contains a re- 

 cital of the transaction for which given, or that 

 it is signed with the additional word "agent." 



Another very common method of fraudulently 

 procuring the execution of a negotiable note is to 

 produce to the prospective agent a memorandum 

 which is represented to him to be simply an 

 acceptance of the agency about to be conferred 

 upon him; this he signs, and after a short time 

 it may come back to him in the form of a promis- 

 sory note, the fraudulent party having cut off 

 one end of the memorandum, leaving it — owing 

 to its peculiar arrangement — a perfectly valid 

 promissory note. These frauds were formerly 

 much more frequent than now, but are still 

 attempted in many parts of the country. 



II. WARRANTIES UPON SALE OF HORSES OR OTHER 

 ANIMALS 



Upon the sale of a horse or other animal 

 (particularly the former), various questions very 

 frequently arise as to the right of an aggrieved 



