218,  14  L.  Ed.  119.  Being  a  promissory  note,  this  certificate  is  ne-
gotiable. The  bank,  then,  had  no  interest  in  the  relief  asked  against
Walters,  the  indorsement  of  the  same.  And  it  may  be  needless  to  re-
mark that  this  is  the  only  equity  presented  in  the  bill  for  which  the
plaintiff  asks  relief.  I  think,  also,  that  the  plaintiff  had  a  speedy  and
adequate  remedy  at  law  against  the  bank  without  the  indorsement
prayed  for.  The  complaint  shows  that  Fultz  was  the  holder  of  the
said  certificate,  and  the  real  owner  of  the  same.  Walters  had  delivered
it  to  him,  and  claimed  no  interest  therein.  A  note  may  be  transferred
by  assignment  as  well  as  by  indorsement.  And  it  is  not  necessary  that
such  assignment  should  be  evidenced  by  writing.  Upon  the  subject
of  the  assignment  of  promissory  notes,  see  2  Pars,  on  N.  &  B.  41-
54.  In  this  discussion,  he  lays  down  the  rule:  "A  note  of  hand,  or
a  bill  of  exchange,  being,  as  we  have  said,  itself  only  a  personal  chat-
tel, although  called  and  regarded  for  most  purposes  as  a  chose  in  ac-
tion, may  be  assigned  by  delivery  only,  without  any  writing  upon  it,
or  on  another  paper."

The  delivery  of  the  certificate  to  Fultz  under  the  circumstances  that
appear  in  the  complaint  was  an  assignment  of  the  same.  Fultz  al-
leges that  he  is  the  holder  and  owner  thereof,  and  that  Walters  claims
no  interest  therein.  The  fact  that  the  certificate  was  made  payable
to  the  order  of  Walters  makes  no  difference.  Promissory  notes,  made
payable  to  order,  may  be  assigned,  as  we  have  seen,  by  delivery.  The
words  "payable  to  order"  made  it  negotiable,  and  made  it  subject  to
the  incidents  which  attach  to  negotiable  paper.  The  words  "payable
to  order,"  in  a  promissory  note,  do  not  amount  to  a  contract  that  the
payor  is  only  to  pay  the  same  when  it  is  indorsed  properly  by  the  payee.
