A Treatise on the Law of Banks and Banking, Volume 2Little, Brown,, 1888 - Banking law |
From inside the book
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Page 694
... payment will be a discharge of the drawer , if the bank offers to pay and the holder refuses ; but presentment for ... payment at latest within banking hours on the following receipt . day following the day of its delivery to the payee ...
... payment will be a discharge of the drawer , if the bank offers to pay and the holder refuses ; but presentment for ... payment at latest within banking hours on the following receipt . day following the day of its delivery to the payee ...
Page 696
... payment to be made within the period only so far aforesaid , yet his obligations will be affected by a as damaged breach of this duty only under peculiar circum- The check which he ... payment . 696 § 421 PRESENTMENT OF CHECKS FOR PAYMENT .
... payment to be made within the period only so far aforesaid , yet his obligations will be affected by a as damaged breach of this duty only under peculiar circum- The check which he ... payment . 696 § 421 PRESENTMENT OF CHECKS FOR PAYMENT .
Page 698
... pay the amount was nudum pactum.18 A holder who re- tains a check after it is refused payment , and fails to notify the drawer , must shoulder the loss himself.19 Delay of seven days in presentation of a debtor's check discharged the ...
... pay the amount was nudum pactum.18 A holder who re- tains a check after it is refused payment , and fails to notify the drawer , must shoulder the loss himself.19 Delay of seven days in presentation of a debtor's check discharged the ...
Page 703
... payment . Accordingly , it has been held that a creditor accepting a check will not be per- mitted to maintain an action against the drawer upon the original debt until after he has caused the check to be properly presented at the bank ...
... payment . Accordingly , it has been held that a creditor accepting a check will not be per- mitted to maintain an action against the drawer upon the original debt until after he has caused the check to be properly presented at the bank ...
Page 704
... payment , during which interval the maker had become in- solvent.12 - § 426. The First Presentment for Payment fixes the Drawer's Rights . If a check be presented for payment , and the bank is ready and offers to pay , but the payee for ...
... payment , during which interval the maker had become in- solvent.12 - § 426. The First Presentment for Payment fixes the Drawer's Rights . If a check be presented for payment , and the bank is ready and offers to pay , but the payee for ...
Common terms and phrases
action agent American Exchange Bank amount articles of association assessed assets assignment asso authority bank bills Bank of United bank's banker bill of exchange bona fide holder bonds by-law capital stock certificate charter circulating notes claim collection Comptroller contract corporation court creditors Currency debt debtor declared defendant demand deposit depositor directors discharge dollars draft drawer drawn duty entitled equity fact forfeiture forged forgery funds held hold hundred indebtedness indorsement insolvent issued liability lien loan loss Mass matter ment National Banking Act national banking association negligence notice officers Ohio St organization certificate owner paid paper pari delicto party payable payee payment person plaintiff presented promissory note reason received recover redeem refused rule Savings Bank shareholders shares signature stockholders suit taxation thereof tion transaction transfer Treasury trust U. S. Rev ultra vires United usurious violation
Popular passages
Page 1099 - Such as shall be conveyed to it in satisfaction of debts previously contracted in. the course of its dealings.
Page 1139 - To exercise by its board of directors or duly authorized officers or agents, subject to law, all such incidental powers as shall be necessary to carry on the business of banking; by discounting and negotiating promissory notes, drafts, bills of exchange, and other evidences of debt; by receiving deposits; by buying and selling exchange, coin, and bullion; by loaning money on personal security; and by obtaining, issuing, and circulating notes according to the provisions of this title.
Page 1137 - ... shall specify in general terms the object for which the association is formed, and may contain any other provisions, not inconsistent with the provisions of this act, which the association may see fit to adopt for the regulation of the business of the association and the conduct of its affairs...
Page 1070 - It is, we think, a sound principle, that when a government becomes a partner in any trading company, it divests itself, so far as concerns the transactions of that company, of its sovereign character,, and takes that of a private citizen.
Page 1136 - A summary of the state and condition of every association from whom reports have been received the preceding year, at the several dates to which such reports refer, with an abstract of the whole amount of banking capital returned by them, of the whole amount of their debts and liabilities, the amount of circulating notes outstanding, and the total amount of means and resources, specifying the amount of lawful money held by them at the times of their several returns, and such other information in...
Page 1176 - If the directors of any national banking association shall knowingly violate, or knowingly permit any of the officers, agents, or servants of the association to violate any of the provisions of this Title, all the rights, privileges, and franchises of the association shall be thereby forfeited.
Page 1157 - Washington, shall at all times have on hand, in lawful money of the United States, an amount equal to at least twenty-five per centum of the aggregate amount of its...
Page 921 - Secretary, shall prescribe; but if a check so received is not paid by the bank on which it is drawn the person by whom such check has been tendered shall remain liable for the payment of the tax and for all legal penalties and additions to the same extent as if such check had not been tendered.
Page 1137 - An act to provide a national currency secured by a pledge of United States bonds, and to provide for the circulation and redemption thereof...
Page 1155 - The total liabilities to any association, of any person, or of any company, corporation, or firm for money borrowed, including in the liabilities of a company or firm the liabilities of the several members thereof, shall at no time exceed onetenth part of the amount of the capital stock of such association actually paid in.