Transfer  by  Indorsement — ^Name  of  Fictitious  Person.    The  indorse-

4  ment  on  a  draft,  by  the  purchaser,  of  the  name  of  a  payee  who,
unbeJcnown  to  the  drawer,  is  a  fictitious  or  nonexistent  person,
is  ''forged  and  made  without  authority,"  within  the  meaning
of  See.  3060-a23,  Code  Supplement,  1913,  and  wholly  inopera-
tive. Especially  is  this  true  when  there  is  evidence  of  an
actual  intent  to  defraud.  American  Exp.  Co.  v.  Peoples  Sav.
Bank,  192 — 366.
Accelerating  Maturity  Date.     A  mere  pledgee  of  a  long-time  note

5  (of  whose  interest  the  maker  is  ignorant)  may  not  promptly
exercise  a  contract  right  to  declare  the  note  due  and  payable
for  failure  to  pay  matured  annual  interest,  when  all  parties
know  that  the  note  has  been  lost,  and  the  maker  and  original
payee  have  an  understanding  that  they  will  meet,  about  the
time  the  Interest  falls  due,  and  adjust  all  unsettled  matters
between  them,  including  the  making  of  a  new  note.  Blackman
v.*  Carey,  192—548.
