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THE LAW

OF

NEGOTIABLE SECURITIES.

DB
AWR
LPn

THE LAW

T. Spencer

OF

NEGOTIABLE SECURITIES.

SIX LECTURES

DELIVERED AT THE REQUEST OF

THE COUNCIL OF LEGAL EDUCATION.

BY

WILLIAM WILLIS,

ONE OF HER MAJESTY'S COUNSEL.

LONDON:
STEVENS & HAYNES,
Law Publishers,

13, BELL YARD, TEMPLE BAR.

1896.

BRADBURY, AGNEW, & CO. LD., PRINTERS,

LONDON AND TONBRIDGE.

PREFACE.

In the year 1895, the Council of Legal Education decided to make arrangements for the delivery from time to time of lectures on some legal subject, to which not only students of the four Inns of Court should be admitted, but also practising barristers and the general public.

I was invited by the Council to deliver the first course. The invitation was communicated to me by Lord Justice Lindley, then the Chairman of the Council, who, with kind and encouraging words, asked me to accept it. I did so, and with the consent of the Council, I chose as my subject "The Law of Negotiable Securities."

In accepting the invitation, I said that I had neither the time nor the inclination to prepare written lectures, but that I would, without verbal preparation, present to my hearers the law, such as it had shaped itself in my mind as the result of reading and practice. The condition was approved. The lectures

Sittings, and

were delivered during last Michaelmas whatever interest they awakened was chiefly due, in my opinion, to the fact that they were spoken, and not written. The reader of these lectures should remem

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