...6, 2012 Brass Instruments The brass family has a variety of instruments that have the ability to cover a wide range of sounds. Brass instruments have changed greatly since the beginning of time. Throughout history, the manufacturing of brass instruments has become more complex by using different materials, dimensions, and including valves. Compositions have been composed to show off the capabilities of brass instruments through concertos and solos. With that being said, famous musicians have created a reputation for their musical talents by playing instruments in the brass family. The sacbut and piccolo trumpet are two instruments included in the brass family and will be focused on due to their unique qualities. The brass family is a unique group of instruments that has helped change the compositions of music throughout history. History of Brass Instruments Before the history of brass can be described, people have to understand what a brass instrument entails, “a brass instrument is defined as an “aerophone,” which means it is an instrument where the musician must blow air into the instrument. The musician produces the tone by buzzing the lips into what is generally a cup-shaped mouthpiece. It doesn’t mean that the instrument is necessarily made of brass, since instruments that are made of other metals, wood, horn, or even animal bone are included in the family of brass instruments.” (Wilken) Before the Renaissance period, the brass instruments were very basic...
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...In India, there is reason to believe that instrument to exchange were in use from early times and we find that papers representing money were introducing into the country by one of the Mohammedan sovereigns of Delhi in the early part of the fourtheenth century. The word 'hundi', a generic term used to denote instruments of exchange in vernacular is derived from the Sanskrit root 'hund' meaning 'to collect' and well expresses the purpose to which instruments were utilised in their origin. With the advent of British rule in India commercial activities increased to a great extent. The growing demands for money could not be met be mere supply of coins; and the instrument of credit took the function of money which they represented. Before the enactment of the Negotiable Instrument Act, 1881, the law of negotiable instruments as prevalent in England was applied by the Courts in India when any question relating to such instruments arose between Europeans. When then parties were Hindu or Mohammedans, their personal law was held to apply. Though neither the law books of Hindu nor those of Mohammedans contain any reference to negotiable instruments as such, the customs prevailing among the merchants of the respective community were recognised by the courts and applied to the transactions among them. During the course of time there had developed in the country a strong body of usage relating to “hundis”, which even the Legislature could not without hardship to Indian bankers and merchants...
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...TYPES OF NEGOTIABLE INSTRUMENTS n Draft: An unconditional order to pay by which the party creating the draft (the drawer) orders another party (the drawee), typically a bank, to pay money to a third party (the payee) -- e.g., a check. n n n n Check: A draft ordering a drawee bank and payable on demand. Time Draft: A draft payable at a time certain. Sight Draft: A draft payable on presentment. Trade Acceptance: A draft that is drawn by a seller of goods ordering the buyer to pay a specified sum of money to the seller, usually at a specified future time. The buyer accepts the draft by signing and returning it to the seller. n Promissory Note: A written promise made by one person (the maker) to pay a fixed sum of money to another person (the payee) on demand or at a specified future time. Certificate of Deposit: A note by which a bank or similar financial institution acknowledges the receipt of money from a party and promises to repay the money, plus interest, to the party on a certain date. 1 n NEGOTIABLE INSTRUMENTS: AN OVERVIEW n A Negotiable Instrument is a: (1) written instrument, (2) signed by the maker or drawer of the instrument, (3) that contains an unconditional promise or order to pay (4) an exact sum of money (with or without interest in a specified amount or at a specified rate) (5) on demand or at an exact future time (6) to a specific person, or to order, or to its bearer. 2 NEGOTIABILITY: SIGNATURES n For an instrument to be negotiable, it...
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...it is important to determine if the person currently possessing the instrument qualifies as a holder in due course. The basic definition is found in §3-302(a), which you should read carefully. Official Comment 4 to §3-302 makes it clear that the payee can qualify as a holder in due course in some rare situations. Normally, the payee is so involved in the underlying transaction that he or she has notice of problems affecting payment obligations, and thus cannot be a holder in due course. But the examples given in Official Comment 4 describe fact patterns where the payee is innocent of such knowledge and can therefore qualify for the protection given to holders in due course. See also Eldon’s Super Fresh Stores, Inc. v. Merrill Lynch, Pierce, Fenner & Smith, Inc., 296 Minn. 130, 207 N.W.2d 282, 12 U.C.C. Rep. Serv. 490 (1973), for an example of the payee as a holder in due course. 35 36 3. Holders in Due Course Subsection (c) gives a list of extraordinary transactions — creditors seizing instruments by judicial process, the sale of an inventoried business (a ‘‘bulk transaction’’), or the appointment of the administrator of an estate containing negotiable instruments — in which the transferee is statutorily denied holder in due course status.1 A. ‘‘Holder’’ Note first of all that in order to be a holder in due course the possessor of the instrument must qualify as a holder. This means that the instrument must be technically negotiable and must have been technically negotiated...
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...Assignment on Negotiable Instrument Course Title: Legal Environment of International Business Prepared by: Farha Fatema Date of Submission: 28/04/2011 Executive Summary Negotiable instruments are written orders or unconditional promises to pay a fixed sum of money on demand or at a certain time. Promissory notes, bills of exchange, checks, drafts, and certificates of deposit are all examples of negotiable instruments. Negotiable instruments may be transferred from one person to another, who is known as a holder in due course. Upon transfer, also called negotiation of the instrument, the holder in due course obtains full legal title to the instrument. Negotiable instruments may be transferred by delivery or by endorsement and delivery. One type of negotiable instrument, called a promissory note, involves only two parties, the maker of the note and the payee, or the party to whom the note is payable. With a promissory note, the maker promises to pay a certain amount to the payee. Another type of negotiable instrument, called a bill of exchange, involves three parties. The party who drafts the bill of exchange is known as the drawer. The party who is called on to make payment is known as the drawee, and the party to whom payment is to be made is known as the payee. A check is an example of a bill of exchange, where the individual or business writing the check is the drawer, the bank is the drawee, and the person or business...
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...1. Negotiable Instruments – written contracts for the payment of money; by its form, intended as a substitute for money and intended to pass from hand to hand, to give the holder in due course the right to hold the same and collect the sum due. 2. Characteristics of Negotiable Instruments: a. negotiability – right of transferee to hold the instrument and collect the sum due b. accumulation of secondary contracts – instrument is negotiated from person to person 3. Difference between Negotiable Instruments from Non-Negotiable Instruments: Negotiable Instruments | Non-negotiable Instruments | Contains all the requisites of Sec. 1 of the NIL | does not contain all the requisites of Sec. 1 of the NIL | Transferred by negotiation | transferred by assignment | Holder in due course may have better rights than transferor | transferee acquires rights only of his transferor | Prior parties warrant payment | prior parties merely warrant legality of title | Transferee has right of recourse against intermediate parties | transferee has no right of recourse | 4. Difference between Negotiable Instruments and Negotiable Documents of Title Negotiable Instruments | Negotiable Documents of Title | Have requisites of Sec. 1 of the NIL | does not contain requisites of Sec. 1 of NIL | Have right of recourse against intermediate parties who are secondarily liable | no secondary liability of intermediate parties | Holder in due course may...
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...Negotiable Instruments On the back of an envelope, Phoebe writes, “I promise to pay Quint or bearer $600 on demand. [Signed] Phoebe.” The type of instrument that is used in this scenario is a promissory note. When a promissory note is present, this is a written promise which involves two parties (Clark, Miller & Cross, 2014). The two parties that are present in a promissory note is the maker (payer) and the payee and the note may be made with a specific date mentioned or on demand-when the payee requests the money (Clark, Miller & Cross, 2014). In the scenario above, the maker is Phoebe and the payee is Quint and it the note is written to indicate that when Quint asks for the $600, Phoebe is to pay it at that time. In order for a note (or any other instrument) to be negotiable it must meet all six of the following requirements. These requirements are (Clark, Miller & Cross, 2014): 1. The instrument must be in writing-Phoebe wrote the promissory note on the back of an envelope. 2. It must be signed by the maker (payer) or the drawer-Phoebe signed the note 3. It must be an unconditional promise to pay-there were no conditions set by Phoebe that may hinder Quint from requesting payment (i.e.-I, Phoebe, will pay Quint the $600 if he calls me no later than noon on the day he requests payment) 4. The note must state a fixed amount of money-Phoebe’s promissory note listed $600. 5. The note must be payable on demand or at a definite amount of time-Phoebe’s...
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...Negotiable Instruments (Writing Assignment 6) BA 265 Business Law December 11, 2013 Negotiable Instruments Negotiable Instrument is the name of a document that promises to pay a sum of money. The document states that the singer of the document agrees to pay the owner of the document a set amount of money which is also stated on the document. On the back of an envelope, Phoebe writes, “I promise to pay Quint or bearer $600 on demand. [Signed] Phoebe.” This instrument is a promissory note and a bearer note, and it is negotiable. A promissory note is a written promise made by one person (the maker) to pay a fixed sum of money to another person (the payee) on demand or at a specified future time. The maker of this note is Phoebe. The payee is Quint or bearer. A note that is payable to a specific payee or bearer is a bearer note. A bearer is anyone holding something such as a check, promissory note, bank draft, or bond. This is important when the document states it is payable to bearer which means whoever holds this paper can receive the funds due on it. A negotiable instrument that is payable to bearer or to cash or to the order of cash that is not naming a payee, is a bearer instrument and is called bearer paper. To be negotiable, an instrument must be written, be signed by the maker or drawer, be an unconditional promise or order to pay, state a fixed amount of money, be payable on demand or at a definite time, and be payable to order or to bearer unless it is a...
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...Running Head: Negotiable Instruments Negotiable Instruments ACC 543 January 9, 2012 This memo attempts to analyze financial decisions problems with creating lines of credit from banks for the purpose of technological infrastructure investments. Explaining negotiable instruments will occur with recommended financing transactions. Comparing the main and secondary liabilities of the parties to the negotiable instruments and examining the parts of the secured transaction the bank recommends. This will be included in the memo. Negotiable instruments are transferable instruments used as a means of money for trading. These instruments are a promise to pay such as checks, drafts, promissory notes, and certificate of deposits. “A negotiable instrument has three principal attributes: (1) an asset or property passes from the transferor to the transferee by mere delivery or endorsement of the instrument, (2) a transferee accepting the instrument in good faith and for value obtains an indefeasible title and may sue on the instrument in his or her name, and (3) a notice of the transfer is not given to the party liable in the instrument. “ (Business Dictionary, 2012) This business wants to create a line of credit from the bank to invest money in technological infrastructure. A draft can be the negotiable instrument to use with a line of credit. Drafts contain three parties, the drawer, the drawee, and the payee. The drawer creates instructions to demand the drawee...
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...THE NEGOTIABLE INSTRUMENT LAW SECTION . 5. Additional 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 authorizes the sale of collateral securities in case the instrument be not paid at maturity; or (b) Authorizes a confession of judgment if the instrument be not paid at maturity; or (c) Waives the benefit of any law intended for the advantage or protection of the obligor; or (d) Gives the holder an election to require something to be done in lieu of payment of money. But nothing in this section shall validate any provision or stipulation otherwise illegal. Acts in addition to payment of money A negotiable instrument must be payable in “a sum certain in money.” (1) General Rule. – As a general rule, the instrument is non-negotiable if it contains a promise or order to do any act in addition to the payment of money. (par. 1.) The prohibition is based on the fact that while one could be indorsed, the other would have to be assigned. (see Sec. 30) EXAMPLES: “I promise to pay or order P1,000.00 and to deliver a horse.” (2) Exceptions. – The law, however, gives exceptions (Sec. 5 [a to d.] to the general rule. a. Sale of collateral securities. EXAMPLE: “I promise to pay P or order the sum of P10,000.00 on November 25,2004...
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...is. Optical illusions like this could cause a lower than normal approach, due to the runway looking smaller or farther away. This illusion will cause a pilot to run the risk of a collision with an object or possibly even not make it to the runway due to the approach being too low. I want an instrument rating because I believe it makes a safer more confident pilot. I can mention several occasions of pilots getting into an IMC condition while flying VFR, JFK’s aircraft, most recent a Blackhawk helicopter locally that ran into fog and crashed, speculation is the pilot became disoriented. On the coast fog will roll in with zero visibility in 20 -30 minutes on occasion. “Many accidents are the result of pilots who lack the necessary skills or equipment to fly in marginal visual meteorological conditions (VMC) or IMC and attempt flight without outside references.”(FAA, 2012, p. vii) Key principles to instrument flight are trust your instruments not what your body is telling you. Successfully recognize errors in your instruments and what to do when these situations arise. During instrument flight when a pilot becomes disoriented he should try to obtain the horizon, trust his/her instruments, and ignore what your body is...
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...Percussion Instruments Instruments that are sounded by striking, shaking, plucking, or scraping. All instruments such as drums and bells fall into this category. The formal classifications of most Percussion instruments are either Idiophones which are instruments that vibrate when struck, shook, plucked, or scraped or Membranophones which are instruments that have a stretched membrane that vibrates when struck, shook, or rubbed. Informally, Percussion instruments may be further divided into those instruments that produce a definite pitch and those that do not. Some whistles (aerophones) are also included in this category of instruments because they tend to be considered sound effects rather than serious instruments. Percussion instruments may play not only rhythm, but also melody and harmony. Percussion is commonly referred to as the backbone or the heartbeat of a musical ensemble, often working in close collaboration with bass instruments, when present. In jazz and other popular music ensembles, the pianist, bassist, drummer and sometimes the guitarist are referred to as the rhythm section. Most classical pieces written for full orchestra since the time of Haydn and Mozart are orchestrated to place emphasis on the strings, woodwinds, and brass. However, often at least one pair of timpani is included, though they rarely play continuously. Rather, they serve to provide additional accents when needed. In the 18th and 19th centuries, other percussion instruments like the triangle...
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...Evolution of Musical Instruments Music, the concept is something almost instinctually recognized. Rhythm, is it appropriated from our culture, or is it something innately recognized between living beings? From beating on walls to humming tunes, making music is something we are almost all capable of doing. But over time we have evolved our way of procuring these sounds, these vibrational patterns, and it has helped us evolve the actual concept of music to newer and grander concepts. To better understand this, I have drawn up the following timeline, demonstrating the evolution of musical instruments. • ??? Our first musical instruments were natural our lungs. Dating back to the beginning of human history • 45,000 years ago Neanderthals carve a flute from the leg bone of a young bear, in the region that is now Slovenia • 8000 BC Aborigines develop first Didgeridoo • 4000 BC Harps and flutes played in Egypt • 3500 BC Lyres and Double Clarinets played in Egypt • 3000 BC Chinese court musician cut first bamboo pipes • 2800 BC The harp and the lyre are in use as musical instruments in Mesopotamia • 2000 BC Percussion instruments added to Egyptian orchestral music including Bells • 1500 BC A copper trumpet is in use in Egypt, forerunner of the brass instruments of the orchestra • 1500 BC Hittites use guitars, lyres, trumpets, and tambourines in music • 1000 BC Bagpipes first used • 800 BC Five tone and Seven tone scales appear in Babylon • 800 BC Earliest...
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...Type of Negotiable Instrument Wiley v. Peoples Bank and Trust Company Marcus Wiley, James Tate, and James Irby were partners engaged in buying and selling used cars under the trade name Wiley, Tate & Irby. Over an extended period of time, the partnership sold a number of automobiles to Billy Houston, a sole proprietor doing business as Houston Auto Sales (Houston). In connection with each purchase, Houston executed and delivered to the partnership a negotiable instrument drawn on the Peoples Bank and Trust Company of Tupelo, Mississippi. Upon delivery of each negotiable instrument, the automobiles were delivered to Houston. Each of the instruments involved in these transactions contained a number of variations in text and form. However, each of them was similar in that each was drawn on a bank, signed by the maker, and contained an unconditional order to pay a sum certain on the demand of the payee. Wiley v. Peoples Bank and Trust Company, 438 F.2d 513, Web 1971 U.S. App. Lexis 11917 (United States Court of Appeals for the Fifth Circuit) What type of negotiable instrument is involved in these transactions? As defined by the Uniform Commercial Code (UCC) negotiable instruments include checks, draft, notes and certificates of deposit. Negotiable instruments must meet certain requirements for transfer. Article 3 of the Uniform Commercial Code states that a negotiable instrument must meet certain requirements. A negotiable instrument should be a substitute for money, act...
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...THE LAW ON NEGOTIABLE INSTRUMENTS Definition of Terms CHAPTER 1 Form and Interpretation Section 1. Form of Negotiable Instruments Commercial Paper – a written promises or obligations that arise out of commercial transactions from the use of such instruments as promissory notes and bills of exchange. Maker – the person issuing a promissory note Drawer – person issuing bill of exchange Money - medium of exchange authorized or adopted by a domestic or foreign government as part of its currency. In literal sense, the term means “cash.” It also includes all legal tender. Legal Tender – that currency which a debtor can legally compel a creditor to accept a payment of a debt in money when tendered by the debtor in the right amount. Non-negotiable Instrument – an instrument which is not negotiable, which does not meet the requirements lay down to qualify an instrument as a negotiable one, or an instrument which in its inception was negotiable but has lost its quality of negotiability. A non-negotiable instrument may not be negotiated but it may assigned or transferred Negotiable Promissory Note – an unconditional promise in writing made by one person to another, signed by the maker, engaging to pay on demand, or at a fixed or determinable future time, a sum certain in money or to bearer. It is commonly referred to as a note. Payee – the party to whom the promise is made or the instrument is payable. Bill of exchange – an unconditional...
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