This section of the book is from the "Canadian Banking Practice" book, by John T. P. Knight.
Question 544.— A bank discounts a note with its customer's endorsement. Before the note matures the customer dies. Has the bank the right to hold back sufficient money of any balance deceased may have had at credit, as security until the note matures, it having good reason to suppose that the maker of the note cannot pay same?
Answer.—Until the note has matured the bank has no claim against the customer's estate which it would have a right to enforce. It cannot hold back any balance at his credit.