Paton's Digest: A Digest of Legal Opinions of Thomas B. Paton, General Counsel of the American Bankers Association, with Full Text and All Important Federal and State Statutes and Decisions Affecting the Banking Business; Including Forms, Definitions of Banking and Legal Terms, Table of Cases, Annotations, Maps, Bibliography and a Full Index ... Edited and Compiled by Thomas B. Paton, Jr, Volume 2Thomas Bugard Paton American Bankers Association, 1926 - Banking law |
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Page 1026
... hand to hand large sums of money . " It is computed by a competent authority that the average daily amount of such checks in ... hands of the drawee , that they have been set apart for its satisfaction , and that they shall be so applied ...
... hand to hand large sums of money . " It is computed by a competent authority that the average daily amount of such checks in ... hands of the drawee , that they have been set apart for its satisfaction , and that they shall be so applied ...
Page 1039
... hands of the payee . In Union Trust Co. v . Preston Nat . Bank ( 1904 ) 136 Mich . 460 , 99 N. W. 399 , where the Michigan statute made overcertification criminal without a clause validating the check in the hands of a bona fide holder ...
... hands of the payee . In Union Trust Co. v . Preston Nat . Bank ( 1904 ) 136 Mich . 460 , 99 N. W. 399 , where the Michigan statute made overcertification criminal without a clause validating the check in the hands of a bona fide holder ...
Page 1040
... hands of a trustee to be turned over only upon the performance of a certain contract by B. The trustee and B conspire together and the trustee turns the check over to B , without his first complying with the conditions upon which it was ...
... hands of a trustee to be turned over only upon the performance of a certain contract by B. The trustee and B conspire together and the trustee turns the check over to B , without his first complying with the conditions upon which it was ...
Page 1043
... hands of the holder who held it when it was certified , and the mistake is discovered and notified to him so speedily that he has time afforded him to notify and preserve the liability of indorsers , the bank may retract its certificate ...
... hands of the holder who held it when it was certified , and the mistake is discovered and notified to him so speedily that he has time afforded him to notify and preserve the liability of indorsers , the bank may retract its certificate ...
Page 1048
... hands of a holder in due course , no such defense is available . 3. Where a check is certified for the drawer who stops payment , the bank should respect the notice of the drawer unless the check is in the hands of a holder in due ...
... hands of a holder in due course , no such defense is available . 3. Where a check is certified for the drawer who stops payment , the bank should respect the notice of the drawer unless the check is in the hands of a holder in due ...
Common terms and phrases
acceptor agent alteration amount attached authority bank's banker bill of lading bind bonds branch bank capital carrier cash cashier certificate of deposit certified check claim collateral Comp contract corporation creditor debt debtor decision defendant demand depositor directors draft drawer drawn due course fact Federal Reserve Federal Reserve Act Federal Reserve Board funds garnishment held liable hold holder in due indorsement insolvent issued lien loan maker ment mortgage national bank National Bank Act Negotiable Instruments Act notice officer Opinion order bill paid party payable payee payment person plaintiff pledged presented promissory note provides purchaser question real estate received refused rule savings bank shipper signature Stat statute statute of limitations stockholder Supreme Court surety thereof tion trade acceptance transaction transfer trust company ultra vires
Popular passages
Page 1133 - A holder in due course is a holder who has taken the instrument under the following conditions: — 1. That it is complete and regular upon its face; 2. That he became the holder of it before it was overdue, and without notice that it had been previously dishonored, if such was the fact; 3.
Page 1116 - An accommodation party is one who has signed the instrument as maker, drawer, acceptor or indorser, without receiving value therefor, and for the purpose of lending his name to some other person. Such a person is liable on the instrument to a holder for value, notwithstanding such holder at the time of taking the instrument knew him to be only an accommodation party.
Page 1277 - The shareholders of each association formed under the provisions of this act, and of each existing bank or banking association that may accept the provisions of this act, shall be held individually responsible, equally and ratably, and not one for another, for all contracts, debts, and engagements of such association to the extent of the amount of their stock therein at the par value thereof, in addition to the amount invested in such shares...
Page 1134 - Where the sum payable is expressed in words and also in figures and there is a discrepancy between the two, the sum denoted by the words is the sum payable; but if the words are ambiguous or uncertain, reference may be had to the figures to fix the amount; 2.
Page 1135 - Where a negotiable instrument is materially altered without the assent of all parties liable thereon, it is avoided, except as against a party who has himself made, authorized or assented to the alteration, and subsequent indorsers.
Page 1086 - An unqualified order or promise to pay is unconditional within the meaning of this act, though coupled with: 1. An indication of a particular fund out of which reimbursement is to be made, or a particular account to be debited with the amount; or 2. • A statement of the transaction which gives rise to the instrument.
Page 1244 - Carolina 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 one-tenth part of the amount of the capital stock of such bank or banking association actually paid in.
Page 1319 - A creditor whose debtor is the owner of a negotiable bill shall be entitled to such aid from courts of appropriate jurisdiction by injunction and otherwise in attaching such bill, or in satisfying the claim by means thereof, as is allowed at law or in equity in regard to property which cannot readily be attached or levied upon by ordinary legal process.
Page 1320 - ... defeat the rights of any purchaser for value in good faith to whom such bill has been negotiated, whether such negotiation be prior or subsequent to the notification to the carrier who issued such bill of the seller's claim to a lien or right of stoppage in transitu. Nor shall the carrier be obliged to deliver or justified in delivering the goods to an unpaid seller unless such bill is first surrendered for cancellation.
Page 1355 - That it is complete and regular upon its face; 2. That he became the holder of it before it was overdue, and without notice that it had been previously dishonored, if such was the fact; 3. That he took it in good faith and for value; 4. That at the time it was negotiated to him he had no notice of any infirmity in the instrument or defect in the title of the person negotiating it.