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CHIEF JUSTICE OF THE SUPREME COURT OF THE UNITED STATES

COMMERCIAL LAW

A TEXT BOOK FOR ALL CLASSES OF SCHOOLS AND COLLEGES IN WHICH

COURSES ARE OFFERED IN COMMERCIAL LAW

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PREFACE

Those who compose classes in commercial law are, as a rule, without business experience, in fact, without much of any sort of experience in life. The subject consists almost wholly of a study of business situations and relations that have been unthought of by the pupil. Given a certain state of facts; the law is a statement of the rights and obligations of the parties growing out therefrom. It is therefore of itself a generalization. To be comprehended the particulars on which it is founded must be clearly understood, for a knowledge of the particular in this case must precede a knowledge of the general.

The subject is therefore not an easy one to teach and the teacher needs every aid he can secure from his textbook. In the preparation of this book both the teacher and the pupil have been kept constantly in mind; classroom conditions have been ever before the authors. The experienced teacher comes to know where pupils have difficulty and what they comprehend without great effort. A knowledge of these matters has enabled the authors to give unusual attention to many topics in the text that have in the past given some trouble to teachers.

It has also been found that some very important matters of frequent occurrence in business have not heretofore been mentioned in any text. Such topics as the standing of the merchant's rule in case of partial payments; when a creditor is entitled to annual interest and when not; when title to goods passes in case of C.O.D. shipments, are but illustrations. These and many others like them are considered in this text in an authoritative manner.

It is believed that this text will be found to be well balanced, giving proper attention to each topic; and above all things the authors express their confidence in the superior teaching qualities of the book, fully believing that a textbook is valuable not so much for what it contains as for what the pupil may be able to get from it and make his own.

The time allotted to the study of Commercial Law varies widely in different schools. Burgess' Commercial Law is designed

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