Page:United States Statutes at Large Volume 76A.djvu/335

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–239–

-239§ 4302. Certainty of sum payable; definition The sum payable is a sum certain within the meaning of this chapter, although it is to be paid: (1) with interest; or (2) by stated installments; or ^ ^ (3) by stated installments, with a provision that upon default in payment of any installment or of mterest, the whole shall become due; or (4) with exchange, whether at a fixed rate or at the current rate; or (5) with costs of collection or an attorney's fee, in case payment shall not be made at maturity. § 4303. Unconditional order or promise to pay An unqualified order or promise to pay is unconditional within the meaning of this chapter, though coupled with: (1) an indication of a particular fund out of which reimbursement is to be made, or a particular account to be debited with the amount; or (2) a statement of the transaction which gives rise to the instrument. But an order or promise to pay out of a particular fund is not unconditional. § 4304. Determinable future time defined An instrument is payable at a determinable, future time, within the meaning of this chapter, which is expressed to be payable: (1) at a fixed period after date or sight; or (2) on or before a fixed or determinable future time specified therein; or (3) on or at a fixed period after the occurrence of a specified event, which is certain to happen, though the time of happening be uncertain. An instrument payable upon a contingency is not negotiable, and the happening of the event does not cure the defect. § 4305. Nonnegotiable instrument; provisions not affecting negotiability An instrument which contains an order or promise to do any act in addition to the payment of money is not negotiable. But the negotiable character of an instrument otherwise negotiable is not affected by a provision which: (1) authorizes the sale of collateral securities in case the instrument be not paid at maturity; or (2) authorizes a confession of judgment, if the instrument be not paid at maturity; or (3) waives the benefit of any law intended for the advantage or protection of the obligor; or (4) gives the holder an election to require something to be done in lieu of payment of money. But this section does not validate any provision or stipulation otherwise illegal. § 4306. Omissions; seal; particular money; statement of nature of consideration The validity and negotiable character of an instrument are not affected by the fact that: (1) it is not dated; or (2) does not specify the value given, or that any value has been given therefor; or