n presentation.
Also an overdue note accepted or indorsed is regarded as payable on
demand, so far as the maker is concerned.

A note may be drawn payable to the order of a specified person, or to
him or his order, or it may be drawn payable to the order of a payee
who is not the maker, drawer or drawee, or it may be drawn payable to
the order of the drawer or maker, or to the drawee, or to two or more
payees jointly, or to one or some of several payees, or to the holder
of an office for the time being.

Again, a note is payable to the bearer when it is thus expressed, or
to a person named therein or bearer, or when it is payable to the
order of a fictitious or non-existing person, and the fact is known to
the person making it so payable, or when the name of the payee does
not purport to be the name of any person, or when the only or last
indorsement is an indorsement in blank. On one occasion funds were
deposited in a bank in the name of a federal disbursing agent under
treasury regulations that "any check drawn by a disbursing office upon
moneys thus deposited must be in favor of the party by name to whom
payment is to be made and payable to order." The disbursing officer
fraudulently drew checks payable to fictitious payees and cashed them
under forged indorsements of the fictitious payees' name. The court
held that the checks were not payable to bearer and that the bank was
not protected in paying them.

A note is not invalid for the reason only that it is ante dated or
post dated, provided this is not done for an illegal or fraudulent
purpose. The person to whom it is delivered acquires the title from
the date of delivery. If a note expressed to be payable at a fixed
period after the date is issued undated, or the acceptance of such a
note is ante dated, the holder may insert the true date of issue or
acceptance. Nor does the insertion of the wrong date avoid the note in
the hands of a regular subsequent holder. More generally, when a note
is wanting in any particular material, the holder or possessor has the
authority to complete it by filling up the blanks. This authority
extends to every incomplete feature of the note and may be used for
inserting the date, amount, name of the payee, and time and place of
payment. When authority is conferred on another to fill blanks it must
be strictly followed. If a note is drawn payable with interest at the
rate of __ per cent, it draws interest at the legal rate, although