This section of the book is from the "Canadian Banking Practice" book, by John T. P. Knight.
Question 501.— The manager of a bank which holds a bill for collection receives from the drawee a power of attorney on the form in common use authorizing him to accept the bill. This he neglects to do, but attaches the power of attorney to it. "Would this give the holder of the bill a right to sue the customer?
Answer.—Clearly not, on the bill. We understand that the form in general use contains an undertaking to pay as well as authority to accept, and it might be said that this is a contract with the collecting bank entitling it to a remedy on contract. There is no reason why the power to accept should not be exercised after maturity.