Legal Definition of the Word Allonge

Today, extensions in Europe are mainly used in countries that operate on a civil law tradition, such as France. They are relatively rare in the UK due to the different treatment of endorsements in the English legal tradition. LENGTHEN, French straight. If a bill of exchange or other paper is too small to obtain the particulars to be affixed to it, another sheet of paper bearing the name Extension shall be added. Leopard. No. 343; Geschichte über P. N. §§ 121, 151; Invoice history, 204. An extension is a sheet of paper attached to a negotiable instrument such as a bill of exchange.

Its purpose is to make room for extra notes when there is not enough space left on the original instrument. The word «allonge» is derived from the French word allonger, which means «to extend». In practice, however, lengths have become rare worldwide, as contracts of all kinds are increasingly drafted and amended electronically, allowing new pages to be added as needed without prior physical constraints. An extension is required if there is not enough space on the document itself for endorsements. It is considered part of the commercial paper as long as the extension remains attached to it. The Promissory Note dated May 8, 2002 issued by the Company as manufacturer on behalf of the Bank as beneficiary is hereby amended to increase the principal amount to $20,000,000, evidenced by an allocation to the Promissory Note executed by the Company substantially in the form attached as Exhibit A (the Third Extender). which third Allonge is permanently attached to the bill of exchange and which third Allonge is incorporated by reference into the postal contract and forms an integral part thereof. An extension to the promissory note is different from an assignment. An assignment in this context gives a party the legal designation and right to take legal action against a property, while an extension is a confirmation that allows you to collect on the promissory note.

Note: According to Articles 3-204(a) of the Uniform Commercial Code, an extension must be affixed to the document so firmly as to form an integral part of it for the particulars to be valid. Endorsements on an appendix are considered void if there is room for endorsements on the device. Post a draft on the ContractsCounsel marketplace to get free quotes from lawyers to draft, review or trade promissory notes. All lawyers are approved by our team and reviewed by our clients so you can explore them before you hire them. I say, just stop using Extended. It is not a question of dumbing down, but of eliminating words that are opaque to the uninitiated for no reason. But wait, there`s more! You can also see that Lengthening is used as follows: Lengthening, not a big word at first, escaped the reserve and has a broader meaning. This should come as no surprise. After all, that`s what happened to attorn (see this post). An important role that Allonges plays is the affixing of the signature for the guarantors of a contract. In the case of bills of exchange, the person who guarantees the payment of the bill of exchange is called the «given guarantee».

The term downstream refers to the guarantee, since the amount indicated on the invoice or extension is paid. To ensure applicability, a Endorsement must specify the specific account for which it is specified. If such a specification is not specified, it shall be deemed to belong to the drawer. In other words, lengthening is also used to signify change; Use the change request instead. As a second example, I have included below the full text of another document entitled «Lengthening», which would be called an amendment in any other context. When I touched it, I touched it in two places on the same extension and threw its leaf several meters away. This is how Black`s Law Dictionary defines length, a noun: «A piece of paper sometimes attached to a negotiable instrument to obtain further indorsements when the original paper is filled with indorsements». (A ticket is used to transfer or guarantee a negotiable instrument or to confirm payment.) Lawyers who have worked on Allonge on promissory notes work with clients to help them. Do you need help with a promissory note? It is important that bills of exchange are transferable by endorsement. In practice, this means that the original endorsements on a bill of exchange may need to be updated several times if the invoice is postponed several times.

To facilitate this, bills of exchange are often accompanied by an extension, which effectively serves as a placeholder for possible future contract changes. For the Extender to be legally enforceable, each new endorser must write and sign their note on the Extender. In any case I will close this letter, which has lengthened despite me. Black`s gives 1859 as the date of first use; Garner`s Dictionary of Legal Usage states that «Anglo-American lawyers borrowed the word from French right in the mid-19th century.» In other words, he is a relative beginner. And he is so diligently foppy and obscure that one would render a service by freeing him from his misery. I offer an indorsement supplement, or an indorsement addendum or an indorsement certificate as alternatives. An extension is usually an attachment to a legal document that can be used to insert a speech or signatures if the original document does not provide enough space for the inserted material. This may be, for example, a piece of paper attached to a negotiable instrument or a promissory note on which notes can be written because there is not enough space on the instrument itself. The extension must be firmly attached to be part of the instrument. (B) ANY ACTION, ACTION OR PROCEEDING AGAINST THE LENDER OR BORROWER ARISING OUT OF OR RELATED TO THIS DEBENTURE MAY, AT THE OPTION OF THE LENDER, BE COMMENCED IN ANY FEDERAL OR STATE COURT LOCATED IN NEW YORK CITY, COUNTY OF NEW YORK, PURSUANT TO SECTIONS 5-1402 OF THE NEW YORK GENERAL OBLIGATIONS ACT, AND THE BORROWER WAIVES ANY OBJECTION: THAT HE HAS NOW OR LATER ON THE BASIS OF THE JURISDICTION AND / OR THE FORUM, WHICH IS NOT AGREED TO IT. ACTION, SUIT OR PROCEEDING.