Page images
PDF
EPUB

PAGE.

493

493
493
494
494

494

495

.

.

.

551
551, 553

552
552
552
552
552
552
553
553
553
554
554
555
555
555

555
555 note

BARNETT (R. W.)-continued.

Supplementary remarks, after passing of Bill for Extension
of Natimal Bank Charters.
Under new Act, powers of banks to extend their existence

steps necessary for amending Articles of Association
powers of shareholders to withdraw .
note circulation
section to prevent sudden contraction of circulation by deposit of

money and withdrawal of bonds
section against over-certification of cheques
issue by Treasury of gold and silver certificates, and 3 per cent.

bonds
The clearing system in the United States .

Development of the system
New York clearing-house, its importance to the interests of the business
community during the panic of 1873

commencement of its operations
number of its members : all banks represented
meetings : arrangements and representation thereat
election of Standing Committees
applications for admission to the Association
entrance fee fixed in proportion to capitals of banks
power of Standing Committee to suspend members
description of the operations
settlement of errors
return of unpaid cheques
reporting balances
means of packing gold coin used for payment of balances
loss occasioned by abrasion of coin
discontinuance of issue of gold certificates by Treasury and

establishment of depository of gold coin at the clearing-house
exclusion of the silver certificates issued by the Treasury
gold certificates renewed and rule respecting exclusion of silver
certificates withdrawn.
balances paid during the year ending October 1, 1881

table shewing operations during the years 1853–81
Speculative transactions in the United States
Largest amount cleared on any one day
Progress of clearing during 1881 and 1882 compared :
Table of transactions of gold clearing, 1872-9
Number of other clearing-houses in the United States

hours for exchange

settlement of balances
Table giving chief points of interest at the whole of the clearing-houses
Returns for the first six months of 1882 compared with the same period

of 1881.
Records of the clearing-houses
Peculiar system at Providence
Non-issue of reports by the St. Paul and Norfolk clearing-houses
Aggregate balances

Tables giving the transactions of all the clearing-houses :
BARTER AND MONEY (see Hamilton)
BASTABLE (Mr.) Remarks in Discussion (Chalmers, on Bills of
Exchange Bill)

(Evans, on £ 8. d.)

(Wenley, Banking in Scotland)
BELL (Mr.) Remarks in Discussion (Temple, on India-purchasing

power of Rupee)
BILLINGHURST (H. F.) Remarks in Discussion (Barnett, on National
Banks of United States).

(Chalmers, on Bills of Exchange Bill).

(Evans, on £ 8. d.) .
Remarks on Bills of Exchange Act, 1882.

655 note
556
556
557
557
558
558
568
558
558
559

560
560
560
560
561
562

1

[ocr errors]

200

84
163

255

417
198
85

532

Examination of those clauses which introduce new law, or legalise

customs or decisions

532-540

PAGE.

BILLS OF EXCHANGE, Bills of Exchange Act, 1882 (45 & 46 Vict.,
ch. 61) [Full text of]

Arrangement of sections

453

.

453-456

Sect.

PART I., PRELIMINARY.
1&2. Short title and interpretation of terms

457

458-464
458
458
459
459
459
459
460
460
460
460
461
461
461
462
462
462
462
463
463
464
464
464
464
465
465
465
465
465
465
466
46
466
467
467
467
468

21.

PART II., BILLS OF EXCHANGE.
Form and interpretation
3. bills of exchange defined

inland and foreign bills
5. effect where different parties to bill are same person
6. address to drawe:
7. certainty required as to payee
8. what bills are negotiable
9. sum payable
10. bill payable on demand.
11.

at future time
12. omission of date in bill payable after date
13. ante-dating and post-dating
14. computation of time of payment
15. case of need
16. optional stipulations by drawer or indorser
17. definition and requisites of acceptance
18. time for acceptance
19. general and qualified acceptances
20. incohate instruments

delivery
Capacity and authority of parties

capacity of parties
23. signature essential to liability
24. forged or unauthorised signature
25. procuration signatures
26. person signing as agent or in representative capacity

The consideration for a bili
27. value and holder for value
28. accommodation bill or party
29. holder in due course
30. presumption of value and good faith

Negotiation of bills
31. negotiation of bili
32. requisites of valid instruments
33. conditional indorsement
34. indorsement in blank and special indorsement
35. restrictive indorsement.
36. negotiation of overdue or dishonoured bill
37. negotiation of bill to party already liable thereon
38. rights of the holder

General duties of the holder:
39. when presentment for acceptance is necessary
40. - time for presenting bill payable after sight
41.

rules as to presentment for acceptance and excuses for non-

presentment
42. non-acceptance
43. dishonour by non-acceptance and its consequences
44. duties as to qualified acceptances
45. rules as to presentment for payment
46. excuses for delay or non-presentment for payment
47. dishonour by non-payment
48. notice of dishonour and effect of non-notice
49. rules as to notice of dishonour
50. excuses for non-notice and delay
51. noting or protest of bill
52. duties of holder as regards Drawee or Acceptor

Liabilities of parties
53. funds in hands of Drawee
54. liability of Acceptor
55. liability of Drawer or Indorser
56. stranger signing Bill liable as Indorser
57. measure of damages against parties to dishonoured Bill
58. Tranferor by delivery and Transferee

Discharge of Bill
59.

payment in due course :
60. Banker paying demand draft whereon indorsement is forged .

22.

468

468
469
469
469
469

[ocr errors]

470
470
470
471
471
472
472
473
473
474
475
476
477
477
477
477
478
478
478
479
479
479

PAGE.

BILLS OF EXCHANGE-continued.

61. -

Acceptor the Holder at maturity

express waiver

63.

cancellation

64. — alteration of bill

Acceptance and payment for honour

65. acceptance for honour, suprà protest

66. liability of acceptor for honour

presentment to acceptor for honour .

payment for honour, suprà protest

Lost instruments

69. holder's right to duplicate of löst bili

70. action on lost bill

71. Bills in a set : rules as to sets

72. Conflict of Laws : rules

PART III., CHEQUES ON A BANKER.

73. Cheque defined .

74. Presentment of cheque for payment

75. Revocation of banker's authority

Crossed cheques

general and special crossings defined

crossing by drawer or after issue

78. crossing a material part of cheque

79. duties of bankers as to crossed cheques

80. protection to banker and drawer where cheque is crossed

81. effect of crossing on holder

82.

protection to collecting banker :

PART IV., PROMISSORY NOTES.

83. Promissory note defined

84. Delivery necessary

85. Joint and several notes

86. Note payable on demand

87. Presentment of note for payment

88. Liability of maker

89. Application of Part II. to notes

PART V., SUPPLEMENTARY.

90. Good faith

91. Signature

92. Computation of time

93. When noting equivalent to protest

94. Protest when notary not accessible

95. Dividend warrants may be crossed .

96. Repeal

97. Savings

98. Saving of summary diligence in Scotland

99. Construction with other Acts, &c.

100. Parole evidence allowed in certain judicial proceedings in Scotland

Schedules

Notes on (see Chalmers)

Remarks by Mr. Billinghurst on clauses which introduce

new law or legalise customs or decisions

Bills of Exchange Bill, 1882, resolution of Association of

Chambers of Commerce

remarks in Annual Report of Council on

notice of issue of .

separate and distinct trade in
short, with banker for collection, question of lien, case with

counsel's opinion
discounted by Bank of France in 1881, enormous total, and large

number for small amounts

documentary, notice issued by Exchange Banks in the East

Legal Decisions-

re-indorsement

cheque given as security for

accepted but not signed by drawer, death of acceptor,

drawer's name may be added

110-114
233-239

436-439

.

.

PAGE.

BILLS OF EXCHANGE—continued.
Questions with Answers of Council upon-
bankruptcy of acceptor before maturity

264
bankruptcy of both parties before maturity

264
cheques drawn abroad with foreign address regarded as 214
cheque attached to Bill without stamp, as to payment of 361-362
endorsement and signature ; honouring signature of retired
partner

212
payment by banker when signature as first endorser
differs from signature as drawer

419
payment when

endorsement differs and when
endorsed per pro, not bearing banker's guarantee

501
forged endorsement, protection of banker (case
submitted to Counsel, and their opinion).

564-566
recovery of notarial charges

109, 177
payable to order of A.B. ** accepted payable at Y. L. & Co.

to A. B.," presented to banker, what course to adopt 419
BILLS (Parliamentary), Mr. Lowe's, on Note Issue, 1873

173, 174
Banking Laws (Scotland), Amendment Bill, description of 283–284
BIMETALLISM —
notices of articles, &c. “What is a standard ?" by Mr. Grenfell 363

S. Dana Horton's letter to Prof. Jevons on Prohibitive
Tariff upon Silver

37
How money does its work,” by Prof. Bonamy Price : 181-185
“What is Money?" by Lord Sherbrooke

277-279
Position and Prophecies of Bimetallists,” by A. Crump

279
supplement to the Bullionist

282
extracts from annual report of United States Mint, on: 179-180
resolutions and addresses of International Monetary Standard
Association

215-221
International Monetary Conference, 1881,' Report by English
delegate (see Fren ntle).

424-432
Report by Indian Delegates (see Mallet)

432-436
see Silver Question.
BITHELL (Dr.) Remarks in Discussion (Evans, on £ s. d.)
(Hamilton, on Money and Barter)

23
BLADES (W.) Remarks in Discussion (Evans, on £ 8. d.).

80
BOND, drawn as security for advance, question of interest (with answer) 263
BONDS, with banker, question of lien

175-176
United States, deposited at Treasury by National Banks against
note circulation

382, 391, 395
Bonus, dividend and, Bank of Scotland, on capital (table).

155-156
average on Stock (table)

157
BRITISH LINEN COMPANY, origin

129–130
charters
capital .

133
BULLION, as money

10
shipments of, from Australia to the United States

43
transfers, conditions governing
BULLIONIST, supplement, notice

282

66

[ocr errors]

82

130

CANADA, clearing system
CANALS, of India, as field for capital
CAPITAL, Bank of Scotland

dividend and Bonus on (table)
paid-up, of Scotch Banks, 1845 to 1881 (table)
capacity of India to absorb new, and direction where required (see

Temple)

273
250
121
155-156
145

243

PAGE.
436-439
176-177

567-566

436

45
233
568
110
284

11
127-128

.

178
5 399, 414
| 417, 494

189
190
193
193-195
195

CARTER v. WRIGHT, report of case
CASE, with Mr. Chalmers' opinion, regarding bankers' lien on securities

with opinion of Mr. A. Cohen and Mr. Chalmers regarding

bankers' power to recover on forged endorsements
CASES, reports of -

Carter v, White
London and County Bank Appellant, T. Ratcliffe Respondent :
London and County Bank v. Groome
Suffell v. Bank of England
Wilkinson & Co. v. Unwin

Ex parte Richdale. In re Palmer
CASH Balances at bankers, as money

Credit system, in Scotland
Order, accepted payable at bank, question as to stamp (with

answer)
CERTIFICATION of Cheques in United States
CHALMERS (M. D.) Notes on the Bills of Exchange Bill

Criticisms of Mr. Behrens
Preparation of the Bill
Amendments proposed to express existing law more clearly

Amendments proposed in substance of law
Discussion on Mr Chalmers' Paper-
Venn (W. W., Jun.)
Codification

in France
Lubbock (Sir J.)

Opening remarks
Position of the Bill
Crossing of dividend warrants
Days of grace in relation to bank holidays

Proposed amendments.
Billinghurst (Mr.)
Suggested amendments

days of grace
incohate instruments
signatures of agents to cheques

crossed cheques
Slater (Mr.)

Remarks, as one of sub-committee, on the practical aspect of the

question
Martin (R. B.)

Crossing of dividend warrants other than Bank of England;

harmonising of the law with existing practice in the subject
Bastable (Mr.)

Payment of undated cheques.
Place where payable not stated on bill
Discrepancy between amount as stated in figures and words
Payment of bills due on non-business days
Signature per pro

Payment by banker determined
Banks (G.)

Diversity in practice of noting bills of exchange

Payment of bills due on non-business days
Rowett (Mr.)

Proposition for saving clause to the Bill :
Grigsby (Mr.)

Clauses in proposed Bill considered as altering the law : Agent

signing bíll not liable unless acting without authority ; that bill
or note shall not be discharged when holder makes acceptor his
executor ; that bill shall not be invalidated by alteration made

without holder's consent
Smith (J.)

Argument against including accommodation bills in the measure,
and suggested amendment that “value received" should not
admit of question

197
197
198
197, 208
197
198
208
208
209
198
198
199
199
199
199
199

199
200

200
200
200
201
201
201
201
202
202
202
202-203
203
203
203

204
204

205

« PreviousContinue »