Paper governed by the commercial law, negotiated before maturity, is not subject to counterclaim.
History: (Code 1852, §2244; Code 1867, §2646; Code 1876, §2995; Code 1886, §2684; Code 1896, §3733; Code 1907, §5864; Code 1923, §10178; Code 1940, T. 7, §356.)