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Excerpt from The Law of Bank Checks Various Definitions of Checks. - A check is an inland bill of exchange, drawn on a bank and payable on demand, and such an instrument is payable on demand where no date is mentioned. Riddle v. Bank of Mon treal, 145 N. Y. App. Div. 207, 130 N. Y. Supp. 15. A check is denominated a species of inland bill of exchange, - not with all the incidents of an ordinary bill of exchange, it it true, - but still it belongs to that class and character of commercial paper. Moses v. Frank lin Bank, 34 Md. 574. When an instrument is drawn upon a bank, or a person engaged in the banking business, and simply directs the payment to a party of a specified sum of money, which is at the time on deposit with the drawee, without designating a future day of payment, the instrument is to be treated as a check. Bull v. First Nat. Bank, 123 U. S. 105. About the Publisher Forgotten Books publishes hundreds of thousands of rare and classic books. Find more at www.forgottenbooks.com This book is a reproduction of an important historical work. Forgotten Books uses state-of-the-art technology to digitally reconstruct the work, preserving the original format whilst repairing imperfections present in the aged copy. In rare cases, an imperfection in the original, such as a blemish or missing page, may be replicated in our edition. We do, however, repair the vast majority of imperfections successfully; any imperfections that remain are intentionally left to preserve the state of such historical works.
Excerpt from Handbook of the Law of Banks and Banking The object of this book is to present the law of the subject in brief compass, in accordance with the plan of the Hornbook Series. The author has had in view, however, that the sub ject is one that concerns rather practitioners than law stu dents, and for this reason he has covered many questions in the text and notes that might have been omitted, had the book been intended primarily for law students, and he nas made a fuller citation of the decisions than he would other wise have done. The fundamental part of the law of banks and banking relates to the various transactions between banks and bankers and those dealing with them. The author has not entered upon the field of corporation law, except so far as the law of banking corporations seemed to require special discussion, and he has not dealt with the varying statutory provisions of the different states respecting banking corpora tions; but he has endeavored to cover the field of national banks and the National Bank Act, so far as it is affected by the decisions. The National Bank Act and other provisions of the federal statutes relating to national banks are printed in an Appendix, with historical and explanatory notes pre pared by the editorial staff of the publishers. When treating of questions concerning checks and other negotiable instru ments, the author has referred to the Negotiable Instruments Law, and has pointed out the not infrequent changes intro duced by it. About the Publisher Forgotten Books publishes hundreds of thousands of rare and classic books. Find more at www.forgottenbooks.com This book is a reproduction of an important historical work. Forgotten Books uses state-of-the-art technology to digitally reconstruct the work, preserving the original format whilst repairing imperfections present in the aged copy. In rare cases, an imperfection in the original, such as a blemish or missing page, may be replicated in our edition. We do, however, repair the vast majority of imperfections successfully; any imperfections that remain are intentionally left to preserve the state of such historical works.
Excerpt from Treatise of the Law of Bills of Exchange: Promissory Notes, Bank-Notes, Bankers' Cash-Notes and Checks New Judicature Act will not be in force until Michael mas Term, 1874, and its operation will even then be dependent on Rules to be made hereafter; it has therefore been necessary. About the Publisher Forgotten Books publishes hundreds of thousands of rare and classic books. Find more at www.forgottenbooks.com This book is a reproduction of an important historical work. Forgotten Books uses state-of-the-art technology to digitally reconstruct the work, preserving the original format whilst repairing imperfections present in the aged copy. In rare cases, an imperfection in the original, such as a blemish or missing page, may be replicated in our edition. We do, however, repair the vast majority of imperfections successfully; any imperfections that remain are intentionally left to preserve the state of such historical works.
Excerpt from The Federal Reserve Check Collection System In framing the Federal Reserve Act considerable attention was directed to the subject of collecting out-of-town checks. Sections 13 and 16 of the Federal Reserve Act referring to the clearing and collection functions of the Federal Reserve Banks provide as follows: "Section 13. - Any Federal Reserve Bank may receive from any of its member banks, and from the United States, deposits of current funds in lawful money, national-bank notes, Federal Reserve notes, or checks, and drafts payable upon presentation, and also, for collection, maturing bills; or solely for the purposes of exchange or of collection, may receive from other Federal Reserve Banks deposits of current funds in lawful money, national-bank notes, or checks upon other Federal Reserve Banks, and checks and drafts, payable upon presentation within its district, and maturing bills payable within its district." "Section 16. - Every Federal Reserve Bank shall receive on deposit at par from member banks or from Federal Reserve Banks checks and drafts drawn upon any of its depositors, and when remitted by a Federal Reserve Bank, checks and drafts drawn by any depositor in any other Federal Reserve Bank or member bank upon funds to the credit of said depositor in said reserve bank or member bank. Nothing herein contained shall be construed as prohibiting a member bank from charging its actual expense incurred in collecting and remitting funds, or for exchange sold to its patrons. The Federal Reserve Board shall, by rule, fix the chaises to be collected by the member banks from its patrons whose checks are cleared through the Federal Reserve Bank, and the chaise which may be imposed for the service of clearing or collection rendered by the Federal Reserve Bank. "The Federal Reserve Board shall make and promulgate from time to time regulations governing the transfer of funds and charges therefor among Federal Reserve Banks and their branches, and may at its discretion exercise the functions of a clearing house for such Federal Reserve Banks, or may designate a Federal Reserve Bank to exercise the functions of a clearing house for its member Banks." About the Publisher Forgotten Books publishes hundreds of thousands of rare and classic books. Find more at www.forgottenbooks.com This book is a reproduction of an important historical work. Forgotten Books uses state-of-the-art technology to digitally reconstruct the work, preserving the original format whilst repairing imperfections present in the aged copy. In rare cases, an imperfection in the original, such as a blemish or missing page, may be replicated in our edition. We do, however, repair the vast majority of imperfections successfully; any imperfections that remain are intentionally left to preserve the state of such historical works.
Excerpt from The Law of Bills, Notes and Checks While the Law is, with few exceptions, uniform, the numbering of the sections vary. For convenience the numbering of the New York statute has been followed, with a table of the corresponding sections of the other states. About the Publisher Forgotten Books publishes hundreds of thousands of rare and classic books. Find more at www.forgottenbooks.com This book is a reproduction of an important historical work. Forgotten Books uses state-of-the-art technology to digitally reconstruct the work, preserving the original format whilst repairing imperfections present in the aged copy. In rare cases, an imperfection in the original, such as a blemish or missing page, may be replicated in our edition. We do, however, repair the vast majority of imperfections successfully; any imperfections that remain are intentionally left to preserve the state of such historical works.
Excerpt from A Treatise on the Law of Bills of Exchange, Promissory Notes, Bank-Notes and Cheques The Act to Codify the Law relating to Bills of Exchange, Cheques and Promissory Notes (45 46 Vict. C. 61) came into operation on the 18th of August, 1882, and introduced (with the exception of two sections, 58 (2) and 100) one uniform law for the whole of the United Kingdom. About the Publisher Forgotten Books publishes hundreds of thousands of rare and classic books. Find more at www.forgottenbooks.com This book is a reproduction of an important historical work. Forgotten Books uses state-of-the-art technology to digitally reconstruct the work, preserving the original format whilst repairing imperfections present in the aged copy. In rare cases, an imperfection in the original, such as a blemish or missing page, may be replicated in our edition. We do, however, repair the vast majority of imperfections successfully; any imperfections that remain are intentionally left to preserve the state of such historical works.