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Conditions In Bills And Notes, Ralph W. Aigler

Michigan Law Review

Remembering that at least the early use of negotiable instruments was very largely as a substitute for money in making payments and exchanges of credit generally, it is not surprising that it should have been deemed a prime requirement of such documents that they should be unconditional in their orders and promises. Uncertainties as to the responsibility of parties are no doubt inevitable, but the element of chance may be eliminated at least as to the content of the instrument. The usefulness of commercial paper would be seriously impaired if business men and others proposing to take such instruments in …