ng value therefor, and for the purpose of lending his name to
some other person. Such a person is liable on the note to a holder for
value, though the latter knew he was only an accommodation party.

What is meant by negotiating a note? By transferring it in a way
whereby the transferee becomes the holder or owner. If payable to
bearer it is negotiated by delivery; if payable to order it is
negotiated by indorsement and delivery. An indorsement may be either
special or in blank; and it may also be either restrictive, or
qualified, or conditional. A special indorsement specifies the person
to whom, or to whose order the note is payable. An indorsement in
blank specifies no indorsee, and a note thus indorsed is payable to
bearer and may be negotiated by delivery. The holder may convert a
blank indorsement into a special one by writing over the signature of
the indorser in blank any contract consistent with the character of
the indorsement. By a qualified indorsement the indorser becomes a
mere assignor of the note, and is made so by adding to his signature
the words "without recourse," or others of similar import. Such an
indorsement does not impair the negotiable character of the note. When
a note is payable to the order of two or more payees or indorsers who
are not partners, all must indorse unless the one indorsing has
authority to indorse for the others. Again, where a note is drawn or
indorsed to a person as cashier or other fiscal officer of a bank or
corporation of which he is the officer, it may be negotiated by either
the indorsement of the bank or corporation or by the indorsement of
the officer. And where the name of a payee or indorser is wrongly
designated or misspelled he may indorse the note as therein described,
adding, if he thinks fit, his proper signature. The holder may at any
time strike out any indorsement which is not necessary to the title.
When this is done, he and all subsequent indorsers are thereby
relieved from liability on the note.

The holder of a negotiable note may sue thereon in his own name; and
payment to him in due course discharges it. Who is a holder in due
course? One who holds a note on the following conditions: (a) that it
is complete and regular on its face; (b) that he became the holder
before it was overdue and without notice that it had been dishonored;
(c) that he took it in good faith and for value; (d) that at the time
of its negotiation to him he had no notice of any in