Practical Banking |
From inside the book
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Page 16
... agent , pending invest- ment in real estate or securities for or on account of his principal.1 First Statement . When a $ 50,000 institution , with a $ 10,000 contingent fund , has been organized , the initial statement might appear as ...
... agent , pending invest- ment in real estate or securities for or on account of his principal.1 First Statement . When a $ 50,000 institution , with a $ 10,000 contingent fund , has been organized , the initial statement might appear as ...
Page 20
... agent and principal or of bailor and bailee , unless the moneys deposited are public funds or funds held by the depositor in a fiduciary capacity and knowingly accepted by the bank . This rela- tion is equally true of deposits in ...
... agent and principal or of bailor and bailee , unless the moneys deposited are public funds or funds held by the depositor in a fiduciary capacity and knowingly accepted by the bank . This rela- tion is equally true of deposits in ...
Page 32
... agent . Checks . Deposits are ordinarily withdrawn from a bank by check . The Negotiable Instruments Act defines a check as " a bill of exchange , payable on demand . ” It should not be forgotten that a check is an order on a bank and ...
... agent . Checks . Deposits are ordinarily withdrawn from a bank by check . The Negotiable Instruments Act defines a check as " a bill of exchange , payable on demand . ” It should not be forgotten that a check is an order on a bank and ...
Page 38
... agent of any bank doing business under this chapter to certify any check , draft , or order drawn upon the bank unless the person , firm , or corporation drawing such check , draft , or order has on deposit with the bank at the time ...
... agent of any bank doing business under this chapter to certify any check , draft , or order drawn upon the bank unless the person , firm , or corporation drawing such check , draft , or order has on deposit with the bank at the time ...
Page 73
... Agent . The signature of any party may be made by a duly authorized agent . No particular form of appointment is necessary for this purpose , and the authority of the agent may be established as in other cases of agency . The Kentucky ...
... Agent . The signature of any party may be made by a duly authorized agent . No particular form of appointment is necessary for this purpose , and the authority of the agent may be established as in other cases of agency . The Kentucky ...
Common terms and phrases
acceptance agent agreement amount assets assigns authority banker banking business bill bill of lading board of directors bonds cash cashier cent certificate of deposit certified check charge chattel mortgage collateral collecting bank condition consideration contract corporation country banks currency debt depositor discount dollars draft drawer endorsement executed Federal Reserve Act Federal Reserve bank Federal Reserve Board Federal Reserve notes Federal Reserve System foregoing funds heirs held hereby holder instrument is payable interest investment issued liable lien loans maker member banks ment mortgagor necessary negotiable negotiable instrument Notary obligation offer officer paid paper party payee payment person principal promise to pay protest purchase real estate receipt rediscount render restrictive endorsement seal signature stockholders sufficient sum certain teller thereof tion transaction trust unless Wisconsin Statutes
Popular passages
Page 74 - Value is any consideration sufficient to support a simple contract. An antecedent or pre-existing debt constitutes value ; and is deemed such whether the instrument is payable on demand or at a future time.
Page 151 - ... unless the agreement, upon which such action shall be brought or some memorandum or note thereof, shall be in writing, and signed by the party to be charged therewith, or some other person thereunto by him lawfully authorized.
Page 73 - Where the instrument contains or a person adds to his signature words indicating that he signs for or on behalf of a principal, or in a representative capacity, he is not liable on the instrument if he was duly authorized; but the mere addition of words describing him as an agent, or as filling a representative character, without disclosing his principal, does not exempt him from personal liability.
Page 64 - An instrument to be negotiable must conform to the following requirements : (1) It must be in writing and signed by the maker or drawer; (2) Must contain an unconditional promise or order to pay a sum certain in money...
Page 67 - An instrument is payable at a determinable future time, within the meaning of this act, which is expressed to be payable 1. At a fixed period after date or sight ; or 2. On or before a fixed or determinable future time specified therein; or 3. On or at a fixed period after the occurrence of a specified event, which is certain to happen, though the time of happening be uncertain. An instrument payable upon a contingency is not negotiable, and the happening of the event does not cure the defect.
Page 76 - A restrictive indorsement confers upon the indorsee the right: 1. To receive payment of the instrument. 2. To bring any action thereon that the indorser could bring. 3. To transfer his rights as such indorsee where the form of the indorsement authorizes him to do so. But all subsequent indorsees acquire only the title of the first indorsee under the restrictive indorsement.
Page 179 - ... 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 72 - Where the instrument provides for the payment of interest, without specifying the date from which interest is to run, the interest runs from the date of the instrument, and if the instrument is undated, from the issue thereof; 3. Where the instrument is not dated it will be considered to be dated as of the time it was issued ; 4.
Page 97 - JONES ON CHATTEL MORTGAGES (5th Ed.): "Section 1. A formal mortgage of personal property is a conditional sale of it as security for the payment of a debt or the performance of some other obligation.
Page 74 - Where a signature is forged or made without the authority of the person whose signature it purports to be, it is wholly inoperative, and no right to retain the instrument, or to give a discharge therefor, or to enforce payment thereof against any party thereto, can be acquired through or under such signature, unless the party against whom it is sought to enforce such right is precluded from setting up the forgery or want of authority.