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5

COPYRIGHT, 1894, BY 0. M. POWERS

COPYRIGHT, 1901, BY POWERS & LYONS

EDUCATION DEST.

PREFACE

This work first made its appearance in 1894. It contained many features at that time new to text books on commercial law. The value of these features as well as the complete adaptability of the work to the class room were immediately recognized by a majority of commercial teachers and a large use was made of the work in their classes. The numerous editions made necessary by these demands have worn the plates and the publishers finding a new set of plates necessary have taken the occasion to add a number of new features that it is believed will add still more to the value of the work and that will bring the subjects herein treated even more fully within the comprehension of the pupil without business experience. A few paragraphs have been added treating of subjects of interest not treated in the first edition.

An occasional reference has been made to state reports of decisions. All pupils may not be able to make use of these but some will do so with profit.

The large number of States which have already adopted the Negotiable Instrument Act made it seem desirable to show wherein it differed from the Law Merchant on that subject. Accordingly this has been done.

The "Practical Cases” on negotiable instruments are new to a work of this character. They have been introduced to give the pupil some facility in discovering the defects in such paper from an inspection of the paper itself.

Finally several new business and legal forms have been introduced and the references brought down to date. In these additions it is believed teachers will generally concur.

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