State Trading Corp. v. Toepfert

The decisive question in this case is whether a trade acceptance in the general form of a bill of exchange payable to order "On Aug. 1, 1938,” is rendered nonnegotiable by the addition below the signatures of the drawer and the acceptor of these words, "The obligation of the acceptor hereof arises out of the purchase of goods from the drawer, maturity being in conformity with the original terms of purchase.”

The answer depends upon whether, because of the words quoted, the promise or order to pay contained in the acceptance became conditional or was not to be performed "at a fixed or…