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overdue

A bill, note, bond or other contract, for the payment of money at a particular day, when not paid upon the day, is overdue.

2. The indorsement of a note or bill overdue, is equivalent to drawing a new bill payable at sight. 2 Conn. 419; 18 Pick. 260; 9 Alab. R. 153.

3. A note when passed or assigned when overdue, is subject to all the equities between the original contracting parties. 6 Conn. 5; 10 Conn. 30, 55; 3 Har. (N. J.) Rep. 222.

Source : Bouvier 1856

Language : English

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