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PREFACE

The authors of this edition of Gano's Commercial Law have had a definite aim in the plan, arrangement, scope, and purpose of this text, in which they have incorporated the results of their experience in business, in legal practice, and in the class room.

In general, the plan of the text is to treat each subdivision of a subject intensively in an expository manner, and whenever necessary to clarify each principle of law or subject explained, by a concrete example which is usually an actual court case. These cases have been selected with great care from authoritative sources and stated in such a clear and concise manner that the student will readily comprehend them.

Each subdivision is followed by questions which are intended primarily to aid the student in lesson preparation. The “Important Points” following each general subject will focus the student's attention and afford him a means of rapid review.

The test questions and case problems may be used in various ways, at the discretion of the teacher. Their use will enliven the subject and add to the interest of the student.

The important statutes near the end of the book will be useful for reference and will put the student in closer touch with the great questions of the day, many of which involve a knowledge of these statutes.

The illustrative legal forms have been collected in an appendix near the end of the book where they are readily accessible for reference or for class assignments.

In the plan of this book the arrangement of general subjects is not a material factor. The different subjects treated may be taken up and studied in any order, but the arrangement is logical and a proper sequence has been observed. Following a brief discussion of law in general, and property to which commercial law directly relates, there is a very full treatment of the rules of law governing contracts. This forms the basis for the discussion of the subjects immediately following: sales, agency, and negotiable paper. These four subjects are the most important, as the

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business man comes most frequently into contact with them. The other subjects may be taken up in any order. We believe, however, it is more logical to study all the subdivisions of contract law before the laws relative to the different types of business organizations, and that the bankruptcy laws, which relate directly to business organizations, should follow.

The scope of the book has been made sufficiently broad and complete to satisfy the needs of business school and high school students, and the important phases of the subject have been treated in such a full and comprehensive manner as will give the student a thorough working knowledge of the fundamentals of applied commercial law.

In addition to this the authors have endeavored to make the text thoroughly teachable by omitting involved technicalities and including ample illustrative and problem material. Technical terms have rarely been used and when used they have been defined at once. Definitions of common legal terms are added, just before the index, for the convenience of the student.

While the purpose of this text is primarily for class use, it will be valuable to any one who may desire information on the various topics of commercial law. It should be noted that the text is based on the common law, except those subjects in which uniform statutes have been quite generally adopted, and that an attorney should be consulted for possible statutory modifications. This book is not intended to teach the student to be his own lawyer, but to give him a thorough and correct understanding of the fundamental principles of commercial law.

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