Lectures on Banking Law: As Delivered in Various Centres in Session 1907-8Tutorial Institute, 1909 - 99 pages |
Common terms and phrases
acceptance act of bankruptcy advance agent amount apply assignment balance bank note banker bankrupt bearer bill of exchange bills of lading bind borrowing powers cheque choses in action circular note collateral security Companies Act contract court creditor crossed cheque current account deal debenture-holders debentures debit deed default deposit account deposit receipt discounting dividend warrants documents of title draft drawer drawn duty effect endorsement entitled equitable mortgage Exchange Act executors firm floating charge foreign bill garnishee guarantee guarantor holder issue law merchant legal mortgage lender letter of credit liable lien limit loan Memorandum of Deposit ment mortgage or charge negligence negotiable instrument ordinary overdraft paid partner pass book payee payment person pledge possession postal order principal debtor promissory note re-issue Realisation registered rule Section signature stamp Statute Statute of Frauds stocks and shares surety title-deeds unless
Popular passages
Page 29 - A bill of exchange is an unconditional order in writing, addressed by one person to another, signed by the person giving it, requiring the person to whom it is addressed to pay on demand or at a fixed or determinable future time a sum certain in money to or to the order of a specified person, or to bearer.
Page 56 - ... (3.) Save as aforesaid, all debts and liabilities, present or future, certain or contingent, to which the debtor is subject at the date of the receiving order, or to which he may become subject before his discharge by reason of any obligation incurred before the date of the receiving order, shall be deemed to be debts provable in bankruptcy.
Page 25 - When a bill payable to order on demand is drawn on a banker, and the banker on whom it is drawn pays the bill in good faith and in the ordinary course of business, it is not incumbent on the banker to show that the indorsement of the payee or any subsequent indorsement was made by or under the authority of the person whose indorsement it purports to be, and the banker is deemed to have paid the bill in due course, although such indorsement has been forged or made without authority.
Page 29 - Any draft or order drawn upon a banker for a sum of money payable to order on demand, which shall when presented for payment purport to be indorsed by the person to whom the same shall be drawn payable...
Page 39 - In such a case there is no room for any other appropriation than that which arises from the order in which the receipts and payments take place, and are carried into the account. Presumably it is the sum first paid in that is first drawn out. It is the first item on the debit side of the account that is discharged or reduced by the first item on the credit side. The appropriation is made by the very act of setting the two items against each other. Upon that principle all accounts current are settled,...
Page 82 - ... (c) a mortgage or charge created or evidenced by an instrument which, if executed by an individual, would require registration as a bill of sale...
Page 56 - All goods being, at the commencement of the bankruptcy, in the possession, order, or disposition of the bankrupt, in his trade or business, by the consent and permission of the true owner, under such circumstances that he is the reputed owner thereof; provided that things in action other than debts due or growing due to the bankrupt in the course of his trade or business, shall not be deemed goods within the meaning of this section.
Page 70 - Where a company has either before or after the passing of this Act deposited any of its debentures to secure advances from time to time on current account or otherwise, the debentures shall not be deemed to have been redeemed by reason only of the account of the company having ceased to be in debit whilst the debentures remained so deposited.
Page 86 - Where a company is being wound up, a floating charge on the undertaking or property of the company created within twelve months of the commencement of the winding up shall, unless it is proved that the company immediately after the creation of the charge was solvent, be invalid, except to the amount of any cash paid to the company at the time of or subsequently to the creation of, and in consideration for, the charge, together with interest on that amount at the rate of five per cent. per annum...
Page 45 - A draft or'bill of exchange, within the meaning of this regulation, is defined as an unconditional order in writing, addressed by one person to another, signed by the person giving it, requiring the person to whom it is addressed to pay in the United States, at a fixed or determinable future time, a sum certain in dollars to the order of a specified person...