These Lectures were delivered some time ago for the Institute of Bankers in Scotland, and they were taken down in shorthand as they were spoken. In preparing this volume for publication, I am aware that there remain many more traces of its origin in spoken speech than are usual in Law Lectures; but this I do not altogether regret. The forms of oral exposition suit the strictly practical aim which I have throughout had in view, to present the leading principles of some branches of mercantile law, with such explanations and illustrations from cases decided by the Courts, as seemed necessary to their operation being thoroughly understood. To help in this way towards a firm and intelligent grasp of these principles I have spared no pains; and I am encouraged to hope that my work, so far as it goes, may be of some practical use, not only by the reception accorded to the Lectures when they were delivered, but also by the fact of the present publication being made in compliance with a request from the Council of the Institute of Bankers.