Draft

An order for the payment of money, drawn by one person on another.

Wildes v. Savage, 1 Sto. 30, Fed. Cas. No. 17,053.

It is said to be a nomen <k n< ralissimum, and to include all such orders, ibid., per Story, J. It is frequently used in corpox-ations where one agent draws on another; in such case it may be treated either as an accepted bill or a promissory note; 1 Dan. Neg. Inst. 350; Tiedeman, Com. Pap. § 128. Drafts come within a statutory provision respecting "bills and notes for the direct payment of money;" Gilstrap v. R. Co., 50 Mo. 491. They are frequently given for mere convenience in keeping accounts, and providing concurrent vouchers, and it is not necessary to present such a draft to the drawee or to give notice of non-payment before suing the corporation; 1 Dan. Neg. Inst. 350; Dennis v. Water Co., 10 Cal. 369; Mobley v. Clark, 2S Barb. (N. Y.) 391; Shaw v. Stone, 1 Cush. (Mass.) 256. A draft by directors of an assurance company on its cashier was said to contain all that is essential to constitute a promissory note; 9 C. B. 574. Drafts are frequently used between municipal oflicors. and are not usually negotiable Instruments; l Dan. Neg. Inst. 352. But it has been held that municipal warrants or orders for the payment Of debts, if authorized and drawn in negotiable language, may be sued on by the transferee; id.

353; Kelley v. City of Brooklyn, 4 Hill. (N. Y.) 265.

They must be presented for payment before suit; Pease v. Inhabitants of Cornish, 19 Me. 193; contra. Steel v. Davis County.

2 G. Greene (la.) 469.

Draft, in a commercial sense, is an allowto him; it Is a small allowance in weighable goods, made by the king to the importer; it is to CO for any lo-s that may occur from the handling of the In the weighing, so that, when time, the article will bol Napier v. Barney, 6 Blatchf. No. 10,009. the rough copy uf a U before DRAG0 DOCTRINE. The pri sorted by Luis Drago, Minister o Affairs of the Argentine Republic, In a letter to the Argentine Mil ton, December 29, 1902, tb it the 1 i Hon of states to secure the of public debts due to their citizens from foreign states is unjustifiable and dang to the security and peace of the nati< South America. The doctrine was but became associated with the na:. Drago, owing to his publication of an elaborate exposition of it shortly before the ond Hague Conference. The subject was brought before the conference by the Dnited States and a Convention was adopted in which the contracting powers agreed, with some restrictive conditions, not to have recourse to armed force for the recovery of contract debts claimed by thoi'r nationals against a foreign state.

Biggins, 184-197.