Except as modified by statutory provisions, bills of exchange and promissory notes must be for the payment of money only.

"Instruments ordering or promising the payment of a certain amount in specific articles,12 or in bonds, notes or checks,13 or ordering or promising the delivery of certain goods or chattels,14 are not obligations for money, and consequently are not valid bills of exchange or promissory notes. But, by statute in many states, such instruments are given the qualities of negotiable instruments.15

7 Protection Ins. Co. vs. Bill, 31 Conn., 539.

8 American and English Ency. of Law, Vol. IV, p. 90.

9 Chicago R. Equipment Co. vs.

Merchants Bank. 130 U. S., 268.

10 Smith vs. Crane, 33 Minn., 144;

53 Am. Rep., 20.

11 Stilhvell vs. Craig, 58 Mo., 24. 12 Perry vs. Smith, 22 Vt., 301.

13 Easton vs. Hyde, 13 Minn., 90.

14 Morris vs. Lynde, 73 Me., 88.

15 Stewart vs. Smith, 28 I11., 397.

"Mercantile paper may be given for the payment of a certain sum in denominations of foreign money,16 but whether an instrument payable generally in money or currency of a foreign state is negotiable is not settled."17 18

A bill or note may be made payable in one particular denomination or kind of money.19