College Department 8TH BUSINESS EXAMINATION COMMERCIAL LAW Wednesday, June 18, 1902-9.15 a. m. to 12.15 p. m., only Answer 10 questions but no more. Answers in excess of the number required will not be considered. Division of groups is not allowed. Each complete answer will receive 10 credits. Papers entitled to 75 or more credits will be accepted. 1 Answer subdivisions a, b, c, d and e, referring to the following instrument: $1375.25 Albany N. Y. May 27, 1902 I promise to pay Leslie P. Tompkins.. or Order Dollars At Morton National B'k, with interest at 6% per annum. William L. Hamilton a What is the name of this instrument? b To what general class and to what specific class does it belong? c Does it contain any unnecessary words, and if so, what are they? d Assume that you have taken this paper in due course for value; on what day, where and by whom should payment be demanded? If payment is not made when so demanded, what should be done and why? 2 What constitutes usury and what penalty does it incur in New York? May more than the statutory rate of interest be taken in this state, and if so, under what conditions? 3-4 A owes B $500 and gives him, July 3, a certified check on the Adamant Bank. B pays the check to C, who allows it to be indorsed "without recourse." C surrenders a note against B due the same day, which note had been received from D regularly indorsed. C deposits the check, 11.30 same day in Traders' Bank where he has a regular account. [All the transactions occur in the same city, which has no clearinghouse.] The check was sent out for collection on the next business day, when it was found that the Adamant Bank had not opened its doors after closing on the afternoon of July 3, and had become insolvent. Who bears the loss? Write an opinion. 5 E stops F on the highway and says, "I will give you $125 for that horse you are driving." F says, "All right; I will sell him to you," and drives on. Is there a contract? Why? 6 Mention in detail the five obligations assumed by the indorser of negotiable paper. Can an indorser relieve himself of any of these obligations, and if so, how? 7 G is indebted to H, who expresses to J his fears that G will not pay. J replies, "Don't worry; I will see that you are paid." Is J bound? Why? Can 8 K, aged 20, borrows money from L and buys with it a suit of clothes of which he is in need, a field-glass and a gun. an action be at any time maintained by L? Explain. In 9 What is meant by the terms guaranty and suretyship? what respect does the liability of a guarantor differ from that of a surety? 10 A Michigan mill owner visiting a Buffalo lumber dealer bargains to sell the dealer a million feet of lumber then contained in five specified piles. Afterward it is found that the lumber had burned with the mill on the night before the bargain was made. Is there a contract? Discuss all the questions involved. 11 M sells goods to N, who pays for them. Afterward N expresses dissatisfaction with the goods and M agrees to warrant them against certain defects. Is M bound by his warranty? State the principle. 12 As head clerk and bookkeeper for Bingham & Bates, draw up in proper form a power of attorney authorizing you to sign checks and indorse commercial paper in behalf of the firm. Show execution of the instrument. Show also the form in which you would indorse. 13 What is a bill of lading? To what extent is a bill of lading a negotiable instrument? Give an illustration showing the convenience of its negotiable quality. 14 A man dies intestate, leaving a wife and two daughters, also two children of a son deceased. The estate consists of realty $12,000 and personal property $21,381. Describe the process of distribution and state the share due to each person. 15 State broadly the purpose of the national bankruptcy law and the scope of its operation. College Department 6TH BUSINESS EXAMINATION COMMERCIAL GEOGRAPHY Thursday, January 30, 1902-9.15 a. m. to 12.15 p. m., only Answer 10 questions but no more. Answers in excess of the number required will not be considered. Each complete answer will receive 10 credits. Papers entitled to 75 or more credits will be accepted. 1 Describe a productive industry with which you are familiar. Show how local conditions favor this industry and how the product is disposed of. 2 What geographic features have been specially instrumental in making New York a leading commercial city of the world? Explain fully. 3 Mention in order of importance four states of the union that lead in manufactures. Compare the working power employed in manufactures in the United States with that of a) Great Britain, b) France, c) Germany. 4 What is the relative importance of Boston among the seaports of the United States? Account for this importance. Mention three leading industries of Boston. 5 Give an account of the cotton industry in the United States. Describe the by-products of this industry that have become important in recent years. 6 State with regard to the lumber industry in the United States a) its importance as compared with that of other countries, b) reasons for its more extensive development in the east than in the west, c) names of four valuable woods produced in different localities. 7 Mention a city connected with each of the following fish industries: cod, salmon, oysters. Describe one of these industries. 8 Show by map or otherwise the location and name of each of five important canals in the United States. Explain the special importance of each canal mentioned. 9 Describe three routes for transporting the product of a North Dakota farm to the seaboard. State with reasons which route is most desirable. 10 Mention a) four rivers of India that influence the commerce of that country, b) six leading exports of India. II Explain the commercial importance of the Hawaiian islands to the United States. Mention three important in dustries of the Hawaiian islands. 12 To what does each of the following European cities owe its commercial importance: Hamburg, Amsterdam, Lyons, Marseilles, Valencia? Mention one leading export of each. 13 Show why commerce with Mexico is comparatively unimportant. With what two countries is the bulk of Mexican. commerce carried on? 14 Show the importance of Great Britain as a) a carrier for other nations, b) an exporter to the United States, c) an importer from the United States. Mention four great commercial centers in the United Kingdom. 15 Describe the production of coffee and its preparation for market. Mention in order of importance four countries of which coffee is a product. College Department 8TH BUSINESS EXAMINATION COMMERCIAL GEOGRAPHY Thursday, June 19, 1902-9.15 a. m. to 12.15 p. m., only Answer 10 questions but no more. Answers in excess of the number required will not be considered. Each complete answer will receive 10 credits. Papers entitled to 75 or more credits will be accepted. 1 Describe some industry of New York state with which you are personally familiar, including the disposition of the product and the means of transportation by which it reaches consumers. 2 Mention five important products of New York state, agricultural, mineral and manufactured. In what line of industries does this state take the lead? 3 Give, with location, the six leading seaport cities of the United States, in the order of their importance. 4 Give name and location of a city in the United States noted for (a) steel manufacture, (b) beef-packing, (c) electric supplies, (d) shoe manufacture, (e) silk mills. 5 Give the location of each of the following ports: Duluth, Cleveland, Oswego, Detroit, Buffalo, Chicago, Bay City, Marquette, Milwaukee, Houghton. Mention an important commodity handled at each port. 6 Show how geographic conditions have affected the commercial importance of Great Britain. 7 What textile is (a) most largely exported from Great Britain, (b) most largely imported into Great Britain? Mention two industries, other than the manufacture of textiles, that are carried on extensively in the United Kingdom. 8 Mention an important commercial city of (a) France, (b) Germany, (c) China, (d) Brazil, (e) Australia. Give a leading export of each city mentioned. 9 Mention five states of the United States, four countries of Europe and one country of Asia, which are extensive producers of wheat. 10 Describe the recent development of manufacturing industries in the south, with special reference to cotton and iron. |