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This article discusses various issues related to law and theories of overdue negotiable paper. There are three theories of overdue negotiable paper, no one of which has been consistently adopted by the common law. It is consequently difficult, if not impossible, to get either a correct perspective from which to view the cases or an absolute standard by which to measure their correctness. It appears to the article author to be impossible to follow the ordinary method and test the correctness of a case relating to overdue negotiable paper by the application. of the logical deduction and modification of the principles which, underlie the law of negotiable paper before maturity, because to do so would be to condemn almost every case to the limbo of legal error.

Reveals why it has become usual for bank loans, even if secured by collateral, to contain numerous provisions for the acceleration of payment. Conversion of a negotiable instrument into a substitute for money; Origin of the rule requiring certainty in commercial paper; Failure of the courts and law textbooks to distinguish between the requisite of certainty of time and that which forbids the instrument to be conditional.

The article presents an endeavor to test a theory of negotiable instruments by its application to the abnormal conditions of overdue paper. Examination of the decisions and text-writers shows not only a wide difference of opinion as to which of these two innocent persons should prevail, but also great uncertainty as to the theoretical nature of an overdue negotiable instrument. An overdue note is consequently negotiable within the terms of a statute exempting debts secured by negotiable promissory notes from garnishment.

Discusses the legal issue of donatio mortis causa of negotiable instruments in the United States. Distinction between the case of a bill of exchange and that of a check payable to bearer; Case of "Rolls v. Pearce"; Ruling in "Clemen v. Cheesman" that the gift of two checks of a third person, owned by the donor, is a valid donatio mortis causa; Ruling that promissory notes made or the bills of exchange drawn by the donor himself are not valid donatio mortis causa.

The article focuses on fraudulent alteration of commercial papers negligently drawn. The English decisions on the concerned subject establish two principles. First, as between drawer and acceptor, the former owes a duty so to draw as not to facilitate alteration, and he must answer to the latter for any loss resulting from failure to observe that duty. Secondly, as between the drawer or acceptor and subsequent parties there is no such duty, and, consequently, no liability for a failure to observe it.

Presents a list of law casebooks. Legal accounting; Administrative law; Admiralty; Bills and notes; Business associations; Civil procedure; Code pleading; Commercial paper; Commercial law; Community property; Conflict of laws; Constitutional law; Contracts; Corporate finance; Criminal law; Domestic relations; Evidence; Equity; Federal anti-trust laws.

The article comments on the advancements in the agreement on rules to prevent a conflict of laws. The inconvenience resulting from a conflict of laws between the states of the U.S. on the subject of commercial paper has of late been largely avoided by the general adoption of the Negotiable Instruments' Act, framed by the Annual Conference of the States for Promoting Uniform Legislation. It is from the action of this body that the most is to be hoped for in the future in smoothing the way to general agreement within the United States as to matters of private law.

Presents several court cases and rulings in the U.S. published in the November 1896 issue of the "Harvard Law Review." Preference of veterans in the Massachusetts civil service; Certainty as a formal requisite of negotiable paper; Common law pleading; Physical suffering resulting from mental shock.

Discusses the value in the law of negotiable instruments. Provisions of the Negotiable Instruments Law; Existence of the difference between negotiable paper and other property; Merits of New York case of Stalker v. McDonald.