Again, an indorsement in blank is the simple writing of the name, in this instance, John Ray’s, by him of course, on the back of the note or bill, which, there being deducible from such indorsement no special directions, would make it payable to any one into whose possession it might come. Either of these indorsements accomplishes a transfer, and at the same time attaches to John Ray the liability of an indorser. Now, if John Ray sought to avoid such liability, he would write over his signature, “Without recourse to me.” This would secure transfer simply. An indorsement made by one not mentioned in the note or bill would be for additional security of payee, and would generally be in blank, placing the indorser in same responsibilities as assumed by John Ray in the two instances above mentioned and grouped. So much for the parties, which we now leave to consider briefly the time element, which is the hope of the payee, the specter, ever the cause of unpleasant forebodings to the promisor. In computing time it should be remembered that the words of the note or bill are to be strictly followed; as, when it reads a certain number of months, then the time is to be computed in months; for example, omitting days of grace, a note bearing date July 1st, on two months’ time, will be due September 1st. To say that two months are equivalent to sixty days, and then add sixty days to July 1st, we shall have our note due August 30th, which would be erroneous. The same would be true of the reverse of the proposition stated; that is, if time be stated days, it would as certainly lead to error, to compute by months. When does the time commence to run? If a note, from its date; if a bill, from its date, if it read payable a certain length of time “from date;” but if it reads, as for instance, “at thirty days’ sight,” then it commences on the date of its acceptance by the drawee. Days of grace, the use of which has sprung from custom into full fledged law in the course of time, must not be forgotten. Notes and bills, unless in the body thereof it is expressly stated to the contrary, have, added to the time for which they are written, three days, known as days of grace; so that a note given for one month, and dated July 1st, would not fall due August 1st, but August 4th. Originally these days were intended to inure to the benefit of the maker of the note, but such is not the practice or law now; and that period of three days constitutes a part of the time for which all interests and discounts are computed, the same as the time expressly mentioned. This is one of the characteristics of bills and notes, which commercial students and business apprentices are more apt to carelessly forget than any other in the category.