a  bill  of  exchange  for  500/ ;  here,  when  C.  gets  the
bill  from  B.  he  can  sue  A.  without  giving  special
notice  of  the  assignment,  and  if  he  is  a  bond  fide
holder  in  due  course  (y),  he  is  not  liable  to  any  per-

(v)  Page  232  ;  and  Story's  Agency,  §  37.
{w)  Page  326  ;  and  Story's  Agency,  \  36.
[x)  Page  325  ;  and  Story's  Agency,  \  35.
(y)  See  later,  p.  180.
M.  M


162         RULES  RELATING  TO  PARTICIXAR  CONTRACTS.
sonal  defence  wliicli  luiglit  have  been  good  against
B.,  c  //.,  fraud  by  B.  in  obtaining  the  bill  from  A.
The  character  of  negotiabilit}'  does  not  attach
itself  to  every  instrument,  but  only  to  those  which
have  obtained  it  either  by  custom  or  statute.  These
are  bills  of  exchange,  promissory  notes,  bank-notes,
cheques,  and  to  these  may  now  be  added,  bills  of
lading  and  certain  bonds  payable  to  bearer.  The
number  of  these  may  increase,  as  the  tendency  of  the
law  seems  to  be  to  recognize  the  custom  of  the  city,
when  that  custom  treats  instruments  as  negotiable.
A  contrary  practice  would  be  "  founded  on  the  "siew
that  the  law  merchant  ....  is  fixed  and  stereo-
typed, and  incapable  of  being  expanded  and  enlarged
so  as  to  meet  the  wants  and  requii*ements  of  trade  or
the  varying  circumstances  of  commerce"  {1j).
