Alabama § 8-5-1 Action on Instrument Issued to Circulate as Money Without Authority; Interest on Same

Alabama Statutes

§ 8-5-1 — Action on Instrument Issued to Circulate as Money Without Authority; Interest on Same

Alabama § 8-5-1

Title 8Commercial Law and Consumer Protection

Ch. 5Nonnegotiable Instruments

Art. 1General Provisions

This text of Alabama § 8-5-1 (Action on Instrument Issued to Circulate as Money Without Authority; Interest on Same) is published on Counsel Stack Legal Research, covering Alabama primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Ala. Code § 8-5-1 (2026).

Text

Every bill of exchange, note, bond, or instrument of any description, whatever may be its form or device, issued with the intent to circulate as money without authority of law, is an absolute, unconditional promise of the association or person putting such bill, note, or other instrument in circulation, and may be sued on by the holder thereof without transfer or assignment and without demand, protest, or notice and the amount thereof recovered with interest thereon at the rate of 50 percent per annum from the date thereof or from the time the same was put in circulation.

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Every bill of exchange, note, bond, or instrument of any description, whatever may be its form or device, issued with the intent to circulate as money without authority of law, is an absolute, unconditional promise of the association or person putting such bill, note, or other instrument in circulation, and may be sued on by the holder thereof without transfer or assignment and without demand, protest, or notice and the amount thereof recovered with interest thereon at the rate of 50 percent per annum from the date thereof or from the time the same was put in circulation.