FRAUDULENT ALTERATION OF COMMERCIAL PAPER NEGLIGENTLY DRAWN.

The article focuses on fraudulent alteration of commercial papers negligently drawn. The English decisions on the concerned subject establish two principles. First, as between drawer and acceptor, the former owes a duty so to draw as not to facilitate alteration, and he must answer to the latter for any loss resulting from failure to observe that duty. Secondly, as between the drawer or acceptor and subsequent parties there is no such duty, and, consequently, no liability for a failure to observe it.