Be Careful in Giving Notes 223 



fact that they enter so largely into the every-day 

 business life of the world, have been often 

 used in fraudulent and swindling schemes out 

 of which has grown much litigation. Because of 

 patent -right swindling, New York and several 

 other states have passed laws making it neces- 

 sary for a note given for a patent -right to bear 

 the words "Given for a patent- right" across its 

 face. It would be impossible to enumerate the 

 many schemes of swindlers to get possession of 

 a promissory note which would be valid in the 

 hands of an innocent third party. 



The best possible advice that can be given to 

 a person who contemplates giving a note to a 

 stranger for anything, or for any purpose what- 

 ever, is "Don't." 



As to all promissory notes, even when given 

 to friends and business acquaintances for legiti- 

 mate purposes, unless you have ample resources 

 to meet them it is well to consider most delibe- 

 rately before signing, because notes have the 

 bad habit of coming due just when money seems 

 scarcest. However, when notes are based upon 

 assets or upon trustworthy and real expecta- 

 tions, they are of the greatest benefit in the 

 commercial world, for it must be remembered 

 that fully ninety per cent of the business of this 

 country is done on credit, in which negotiable 

 paper plays by far the largest part. 



