Elementary Banking

Cover Elementary Banking
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This may be done because the goods are not satisfac- tory and are returned, or the price is higher than the purchaser had expected, or for some other reason. The seller will make out and send to the ELEMENTARY BANKING 185 purchaser a memorandum of credit, which shows how much credit or reduction he will be allowed. It differs from the invoice in that it shows a credit instead of a debit. Credit memorandums are usually printed in red.
ORDERS FOR GOODS. — These are very similar to drafts. They ar
...e orders by one party to another party to give the party holding the order the goods mentioned. Thus, A orders B to give C goods from B's store to the value of $10. This order might be made out in the accompanying form: Minneapolis, Minn. , July 10, 1911. Mr. Robert Burns: Please deliver to Charles Conant, goods from your store to ten dollars. Charge to my account.
THOMAS GORDON.
Such orders are not negotiable. This does not mean that they cannot be given to someone else. But they can only be "assigned.


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