Anyone who is a bona fide holder of a promissory note, or a bill of exchange, may present it for payment on the maturity of the paper. But the possession of paper by one person which is unindorsed, where it is made payable to the order of another, would not give the holder a right to demand payment as a bona fide holder.9

Where the holder can, however, show by extraneous evidence his ownership of the paper, as for instance an assignment of the paper, he may demand payment of the same and the person to whom it was presented could not insist on the indorsement.10

4 Townsley vs. Sumrall, 2 Pet., 170.

5 Skelton vs. Dustin, 92 I11., 49.

6 Story on Bills, Sec. 237.

7 Batchellor vs. Priest, 12 Pick., 399.

8 Daniels on Negotiable Instruments, Vol. 1, Sec. 454.

9 Doubleday vs. Kress, 50 N. Y., 413; Barnett vs. Ringgold, 80 Ky., 289.

Where the ownership of the paper passes to the administrator by the death of the owner the administrator properly makes his presentment; so on the bankruptcy of the holder his assignee takes his place for the purpose of demanding payment of the paper.11