Banking And Negotiable Instruments : a Manual of Practical Law
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To quickly assess the difficulty of the text, read a short excerpt:
The country bankers stopped pay- ment, owing a large balance to the London bankers. It was held that, as between the country customers and the London bankers, there was no appropriation of the bills and notes to meet the acceptances, and that the London bankers could retain the bills and notes without meeting the acceptances.
Discounting Bills. — To discount a bill is only another name for to purchase it. On discounting a bill the pro- perty passes to the banker, and the customer can at once su...e for the price, or draw it from his account by cheques.
It would be very unusual for a banker to discount a bill which his customer had not indorsed ; and so, if the dis- counted bill is dishonoured, the banker can claim its amount from the customer as indorsee.
A banker has full power to deal as he pleases with a discounted bill.
Foreign Bills. — It is very usual for a banker to refuse to discount foreign bills except upon the security of the goods in payment of which the bills were drawn ; this will be further gone into when the taking of security is considered.
What to read after Banking And Negotiable Instruments : a Manual of Practical Law?
You can find similar books in the "Read Also" column, or choose other free books by Tillyard, Frank, Sir, B. 1865 to read onlineMoreLess
To quickly assess the difficulty of the text, read a short excerpt:
The country bankers stopped pay- ment, owing a large balance to the London bankers. It was held that, as between the country customers and the London bankers, there was no appropriation of the bills and notes to meet the acceptances, and that the London bankers could retain the bills and notes without meeting the acceptances.
Discounting Bills. — To discount a bill is only another name for to purchase it. On discounting a bill the pro- perty passes to the banker, and the customer can at once su...e for the price, or draw it from his account by cheques.
It would be very unusual for a banker to discount a bill which his customer had not indorsed ; and so, if the dis- counted bill is dishonoured, the banker can claim its amount from the customer as indorsee.
A banker has full power to deal as he pleases with a discounted bill.
Foreign Bills. — It is very usual for a banker to refuse to discount foreign bills except upon the security of the goods in payment of which the bills were drawn ; this will be further gone into when the taking of security is considered.
What to read after Banking And Negotiable Instruments : a Manual of Practical Law?
You can find similar books in the "Read Also" column, or choose other free books by Tillyard, Frank, Sir, B. 1865 to read onlineMoreLess
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