Illustrative Cases On Corporations
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N for 200, or Fes.
5, 050, we hereby guarantee and agree, on demand, to pay said J. P. Morgan & Co. , the amounts drawn against said letter of credit, togeth- er with usual charges. In case this credit be either lost or stolen, we hereby authorize J. P. Morgan & Co. To send the usual circular to their correspondents, notifying them of the loss, and to take such pre- cautions as they may deem advisable for the prevention of fraud, agreeing to pay any expenses attending the same, and in case of t...he cashing of any drafts by any banker, under the usual precautions, and before the receipt of any circular, we agree to indemnify J. P. Morgan & Co. For any loss therefrom. Hall & Lyon Co. , Geo. C. Lyon, Treasurer. " The letter of credit was issued in August, 1907, and was for 200 sterling. Against this letter of credit six drafts were drawn, three of which drafts are still unpaid, to wit, one for 17, one for 54, and one for 100. The amount due on this letter of credit in United States money, at the then current rates of exchange, was $845.
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You can find similar books in the "Read Also" column, or choose other free books by I Maurice Isaac Maurice Wormser to read onlineMoreLess
To quickly assess the difficulty of the text, read a short excerpt:
N for 200, or Fes.
5, 050, we hereby guarantee and agree, on demand, to pay said J. P. Morgan & Co. , the amounts drawn against said letter of credit, togeth- er with usual charges. In case this credit be either lost or stolen, we hereby authorize J. P. Morgan & Co. To send the usual circular to their correspondents, notifying them of the loss, and to take such pre- cautions as they may deem advisable for the prevention of fraud, agreeing to pay any expenses attending the same, and in case of t...he cashing of any drafts by any banker, under the usual precautions, and before the receipt of any circular, we agree to indemnify J. P. Morgan & Co. For any loss therefrom. Hall & Lyon Co. , Geo. C. Lyon, Treasurer. " The letter of credit was issued in August, 1907, and was for 200 sterling. Against this letter of credit six drafts were drawn, three of which drafts are still unpaid, to wit, one for 17, one for 54, and one for 100. The amount due on this letter of credit in United States money, at the then current rates of exchange, was $845.
What to read after Illustrative Cases On Corporations?
You can find similar books in the "Read Also" column, or choose other free books by I Maurice Isaac Maurice Wormser to read onlineMoreLess
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