This section of the book is from the "Canadian Banking Practice" book, by John T. P. Knight.
Question 444.— Please inform me if a note drawn payable with bank interest is strictly correct ? Would you consider the fact of its being drawn with bank interest as throwing any doubt as to the sum payable, and would you consider such a note as coming strictly within the interpretation of the Bills of Exchange Act?
Answer.—While more desirable to have the rate of interest mentioned, I think the words " bank interest" will not destroy the negotiability of the note. It is no more indefinite than the terms " with exchange " or " with costs of collection."