218 The Farmer's Business Handbook 



Because of the difficulty sometimes encountered 

 in rural districts in properly protesting an endorsed 

 note, it seems advisable, except when a note 

 is made payable at a bank, not to take a note 

 with an endorser unless the endorser is willing 

 to add before his name words similar to the 

 following: "For value received, I hereby waive 

 notice of protest of the within note." 



Before taking or purchasing a note examine 

 it carefully in the following particulars: Is it 

 properly dated? Does it name the exact amount 

 of money to be paid? Does it say pay to 

 "bearer" or to "order"? In either case it is 

 negotiable, but if payable to "John Doe" only, 

 it is non- negotiable. Does it name a place 

 of payment? Does it state that it is made for 

 value received? Does it state "with interest"? 

 Otherwise it would draw no interest until due. 

 Sometimes notes are made payable on demand, 

 and if such a note does not contain the words 

 " with interest," then interest is payable only 

 after demand is made. 



A form for a negotiable note follows: 



$500. ITHACA, N. Y., July 1, 1901. 



Three months after date, for value received, I prom- 

 ise to pay to the order of John Doe (or to bearer) the 



sum of Five Hundred Dollars ($500) 



at the First National Bank of Ithaca, N. Y., with 

 interest. (Signed) RICHARD ROE, 



