Canadian Banking Practice | by John T. P. Knight

01 About

JOHN T. P. KNIGHT PRINTED BY THE CARSWELL COMPANY, Limited TORONTO 1904. CANADIAN BANKING PRACTICE Entered ...

02 Introduction.

A Persian philosopher, being ashed by what means he had acquired so much knowledge, answered, By not being prevented by shame from asking questions where I was ignorant. In ...

03 Acceptances Payable at a Bank.

Question 1. Can a bank legally charge at maturity to the account of a depositer having funds, an acceptance, drawn on him and accepted and made payable at the bank, without a cheque or ...

04 Acceptances Domiciled at a Bank—Rights and Duty of the Bank.

Question 2. Is a bank compelled to pay its customer's acceptances domiciled with it if there are funds, or is it merely authorized? Answer.Unless it has assumed some duty ...

05 Acceptances Domiciled at the Acceptor's Bankers— Rights and

Duty of the Banker. Question 3. A. deposits with a bank a sum of money in open account, upon which he from time to time issues cheques. At length, however, he accepts a draft, ...

06 Acceptances Payable at a Bank.

Question 4. Has a bank a right, without special instructions, to charge to the customer's account at maturity, a note or acceptance which he has made payable at the bank? Is such a note ...

07 Drawee of a Bill not Entitled to Delay his Acceptance.

Question 5. It has been alleged that sec. 42 of the Bills of Exchange Act gives the drawee the right to take two days to accept a bill, and to date the acceptance two days after ...

08 Right of Drawee of a Draft to Date his Acceptance Two Days

Ahead. Question 6. Has the drawee of a sight draft a legal right in accepting a draft to date acceptance at termination of the 48 hours (two days) allowed for acceptance? Could an ...

09 Acceptances—Grace Must be Given when not Otherwise

Provided. Question 7. A draft is accepted thus: Accepted payable at ... to mature 4th October, 1902. Does this acceptance mature on 4th or 7th October? ...

10 Presentment for Payment—Reasonable Time.

Question 9. An acceptance held by Bank A is payable at Bank B. Being unpaid at close of business on the date of maturity Bank A hands the bill to a notary for protest. The notary delays ...

11 Domiciliation of Bills by the Acceptors.

Question 10. May not the drawee of a draft accept it payable where he pleases? If such acceptance is not satisfactory to drawer or endorsers, can they object? Answer....

12 Cancellation of Acceptance.

Question 11. We receive a time draft for collection, the draft is accepted in the morning and in the afternoon the drawee comes to the bank, and asks to be permitted to erase his ...

13 What Constitutes Valid Acceptance.

Question 12. We to-day had a bill payable at a chartered bank, and in accepting the same they simply put the stamp thereon without any initials or folio. Would this be considered a valid ...

14 Accommodation Endorsements.

Question 13. A. draws a bill to the order of a bank, and C. endorses it in order that A. may be able to negotiate it with the banks. The bank discounts the bill, which is dishonoured at ...

15 Security Given by the Maker of a Note to an Accommodation Endorser

and Assigned by the Latter to the Holder of the Note. Question 14. A bank has discounted for A. a note endorsed by B. A. assigns to B. a mortgage to secure him for his endorsement, ...

16 Alteration of a Cheque after Certification by the Bank.

Question 16. A. draws a cheque payable to B. for $1,000; gets it certified by his bank, and sends it by post to B. B. finds he does not need it and returns it to A., but omits to endorse ...

17 Cheque with the Amount Expressed in Figures Only.

Question 17. The amount of a cheque is expressed in figures only, both in the body of the cheque and in the margin. Has the bank a right to refuse payment of a cheque so drawn, for which ...

18 Antedated Acceptance.

Question 18. Has the drawee of a bill, payable at or after sight, the right to antedate his acceptance, and if he does so, can the holder treat the bill as dishonoured and protest it? ...

19 Assignments of Book Debts.

Question 19. Would an assignment of book accounts which may be created during the year, be an effectual security, or is it necessary that the accounts should first be actually in ...

20 Cheque ok Acceptance Signed for a Firm by an Attorney Presented

after the Attorney's Death. Question 20. Would a bank be justified in refusing payment of a cheque signed by, or a hill accepted by, a person holding a power of attorney for a ...

21 Correct Form of Signature by an Attorney.

Question 21. Which is correct of the following forms of signature by an attorney: A.B. A.B.&...

22 Warehouse Receipts, Etc., Signed by Attorney.

Question 22. (1) Do banks take warehouse receipts or assignments under section 74 of the Bank Act, signed by attorney ? (2) If the goods were made away with, could the principal ...

23 Bank " Agents " and " Managers."

Question 23. What is the difference between agent and manager as applied to managers of branches? Answer.The term agent is used by ...

24 Bank Draft—Right of Issuing Bank to Stop Payment at the

Request of the purchaser. Question 24. (a) A bank in Canada issues a demand draft on their agents in England, sending advice in due course. The purchaser forwards the draft to ...

25 Bank Draft—Right of Issuing Bank to Stop Payment.

Question 25. A. purchases a draft on Toronto from a bank, and endorses it over unconditionally to B., and mails it to him. Some days later A. asks the bank to stop payment of this draft ...

26 Legal Bank Holidays.

Question 26. What holidays may a bank observe? In the case of a civic holiday, where all the banks in the place, finding by 12 o'clock that the bills they hold have all been arranged for, ...

27 Bank Money Orders.

Question 27. A branch of a bank which has agreed to cash orders at par, cashed a bank money order and sent it to their agents at Montreal. These agents had not entered into the agreement ...

28 Bask Money Orders.

Question 28. A branch office in Ontario issued a money order in favour of a Montreal firm. The firm's bankers added and collected five cents. This bank is not reported as belonging to ...

29 Circulation Redemption Fund—Notes Issued in Excess of

Paid-up Capital. Question 29. Does the Circulation Redemption Fund guarantee the notes of a bank where they are (1) issued in excess of the paid-up capital, or (2) signed or ...

30 Bank Notes—Their Redemption by Bank when Mutilated.

Question 30. What is the smallest portion of a Canadian bill that must remain to entitle the holder to its redemption at face value? Answer.Theoretically, if a person, ...

31 Banking Hours.

Question 31. Is it optional with a bank to close at one o'clock on any other day than Saturday, in lieu of the latter day? Do not the provisions of the Bills of Exchange Act respecting ...

32 Redemption of Circulation.

Question 32. A customer of a chartered bank in Coboconk has a cheque for $50,000 on another chartered bank in Lindsay. He wishes to take up a note in the Coboconk bank. Upon tendering the ...

33 Notes of a Bank Circulated in a District where it is not

Represented. Question 33. The Bank of X has a small capital and its circulation limit is frequently reached. The notes of another bank not represented in the district are paid ...

34 Bank Notes and Legal Tenders.

Question 35. Is a private individual forced to receive payment of a debt in bank notes, or may he demand legal tenders to any amount? Answer.No person can be forced to ...

35 Old Issues of Canadian Bank Notes.

Question 36. Why is it that the old issues of the Bank of Nova Scotia and Merchants Bank of Halifax notes are not worth their face to-day? Answer.We presume that the ...

36 Canadian Bank Notes.

Question 37. Is the custom of agencies of Canadian banks in the United States of discounting the notes of their own banks, in contravention of section 56 of the Bank Act? Answer....

37 Redemption or Partially Destroyed Notes.

Question 38. By what authority in law do some banks and the Receiver-General's assistants pay torn or mutilated notes sent them for redemption, at less than the full amount ? ...

38 Canadian Bank Notes and Dominion Notes—How Payable.

Question 39. Can anyone presenting Canadian bank notes at place of issue demand gold for same up to any amount, and similarly with legal tender notes at the place of issue ? ...

39 The Redemption of Canadian Bank Notes.

Question 40. Canadian bank notes are only payable in gold or legal tender at the place of issue (usually the head office of the bank), whereas, by section 55 of the Bank Act, is it not ...

40 Government Bank Statement—Directors' Liability.

Question 41. Can you inform me why the wording in the bank returns to the government in regard to directors' liabilities was changed from Aggregate amount of loans to and ...

41 New Stock Issued by a Bank—Allotment to Executors Who are

Not Authorized to Invest More Money in Bank Stocks. Question 42. The trustees of an estate are entitled to an allotment of new stock about to be issued by a bank, at a price which ...

42 Banking Etiquette.

Question 43. Bank A. sends in an item to Bank B. due to-day for acceptance, Bank B. accepts it, and Bank A. immediately sends it in on ...

43 Bill Accepted by an Attorney—Right of Paying Bank to Require

Lodgment of Power of Attorney. Question 45. In reply to your question, No. 426 (Journal No.) you say, On the whole the practice of attaching a power to the draft seems the ...

44 Bill Accepted by the Collecting Bank on a Power of Attorney.

Authority to Give Power of Attorney. Question 46. We send advice of a bill we hold for collection, with form of power of attorney enabling us to accept the same on behalf of the ...

45 Bill Accepted by Two Drawees—Right of the Bank at which the

Bill is Domiciled to Charge it to the Account of One of the Acceptors. Question 47. A bill drawn on and accepted by two drawees is made payable at a bank. Is the bank authorized ...

46 Bill of Exchange Accepted by Two or Three Drawees.

Question 48. A bank negotiates an unaccepted bill of exchange drawn upon three persons who are not partners. Two of these accept but the third refuses, and the draft is protested, for ...

47 Bill Accepted Payable at a Bank where the Payee Has no

Account. Question 49. May a bank refuse to take money with which to pay a draft held by another party, from the drawee of the same, the draft having been accepted by him payable ...

48 Payment by a Bank of a Customer's Acceptance.

Question 50. A customer of a bank has $100 at credit of his account and issues a cheque for that amount. Before the cheque is presented an acceptance for $50 is presented and is charged ...

49 Alteration of Date of Maturity—Days of Grace.

Question 51. A bill dated October 1st, payable 30 days after date, is, with the consent of all parties, accepted by the drawee as payable November 15th. Does the acceptance carry three ...

50 Bill Accepted by an Attorney—Right of Paying Bank to Require

the Lodgment of the Power of Attorney. Question 52. Your answer to Journal Question No. 413 seems rather equivocal, in that after saying yes, you seem to qualify that by what ...

51 Bill Accepted under Power of Attorney—Right of Bank to

Retain the Power of Attorney. Question 53. A bill accepted by the manager of Bank B under power of attorney from drawee is returned to Bank A unpaid, Bank B retaining the power of ...

52 Amount of a Bill Expressed in Figures and not in Words.

Question 54. Would a bill be invalid because the amount in the body is expressed in figures, instead of words ? Answer.We do not think that a bill is invalid because the ...

53 " Noting " Dishonoured Bills.

Question 55. (1) A bank hands a dishonoured bill to their notary for noting, pending an expected settlement in a few days. (a) Should notary attach long declaration of noting in ...

54 Draft—" No Protest for Non-Acceptance." Return of

Bill Dishonoured on Day following Maturity. Question 56. A draft sent by Bank A to Bank B for collection with instructions No protest for non-acceptance ...

55 Bill Drawn " at Sight," with One Day's Grace.

Question 57. A draft is drawn from one of the States in the United States where days of grace have been abolished, on a party in Canada. It reads, At sight with one day's grace, ...

56 Bill at Three Months Sent by the Holder for

CollectionNeglect of Collecting Agents to Present for Acceptance until near the Date of Maturity. Question 58. A bill dated 30th August, at three months, drawn by A. in ...

57 Acceptance of Bills Drawn " on Demand."

Question 59. (1) Is a bank justified in paying an acceptance drawn on demand and accepted payable at the bank and dated a certain dayif same is presented two or three ...

58 Bills Drawn on Two on More Drawees Alternatively or in

Succession. Question 60. A draft is drawn on (1) John Smith or Joseph Brown. (2) John Smith, or failing him, Joseph Brown. ...

59 Acceptance of Bills Drawn "on Demand."

Question 61. (1) Is a bank justified in marking an acceptance drawn on demand, and accepted payable at the bank and dated a certain dayif same is presented two or ...

60 Place of Payment of an Acceptance.

Question 62. A bill dated at Woodstock and drawn on a party in St. John reads: Pay to the Merchants Bank here the sum of .&...

61 Bill Drawn Payable at One Bank, and Accepted Payable at

Another. Question 63. A draft drawn as follows: Pay to the order of myself at the Canadian Bank of Commerce, Montreal, is sent to the Merchants Bank of Canada, ...

62 Bill Payable "Two and One-half Months after Date."

Question 64. What do you think is the correct due date of a bill dated 24th August, 1899, and payable two and a-half months after date? Answer.Two months from August ...

63 Bill Drawn to Mature on 31st October (including grace) Accepted

Payable 31st October. Question 65. A bill dated 28th August, and payable two months after date, which would make it due on 31st October, is accepted by the drawee, who ...

64 Letters of Credit—Drafts Thereunder Paid at the Current Rate

of Exchange for 60-day Bills. Question 66. Eeferring to the practice of cashing drafts drawn under letters of credit, at the current rate for 60-day bills, where Bank ...

65 Bill Held for Collection—Assignment of Drawee before

Maturity of Bill. Question 67. Bank A sends for collection to Bank B, draft or note (to be protested in case). Drawee or maker assigns before maturity. What would be the position ...

66 Bill for Collection Recalled after being Marked Good.

Question 68. A bill is presented by a collecting bank on the morning of the day it falls due, and is duly marked good by the bank at which it is accepted payable. Later in ...

67 Bill for Collection—Should be Endorsed by Banks Sending Same

for Collection. Question 69. A bill is sent for collection bearing on the face the stamp of the bank which sent it. The stamp shows the name of the bank, the branch, etc. The item ...

68 Acceptance Held after Maturity by Request of Prior

PartiesProtest. Question 70. An acceptance is by arrangement with the prior parties held for ten days after its maturity without being protested, but at the expiration of ...

69 Bill Held after Maturity by Collecting Bank on Instructions of

Owner. Question 71. A Winnipeg bank negotiates a draft drawn by one of its customers on a house in Kingston, and sends it to a bank in Kingston for collection. At maturity, the ...

70 Payment by a Bank of? a Bill on a Customer not Accepted by

Him. Question 72. A bank has authority to pay the acceptances of a customer, and through an error has marked and paid a draft on him which had never been accepted. Has it any ...

71 Accepted Bill of Exchange with Bill of Lading Attached—Goods

not up to Sample. Question 73. A bank holds a bill of exchange accepted by the drawee, to which is attached a bill of lading for wheat to the order of the bank. Before the bill ...

72 Bill of Exchange Payable to a Married Woman in the Province or

Quebec. Question 74. May a cheque or bill, payable to a married woman residing in the Province of Quebec, whether she has, or has not, a marriage contract, be properly paid or ...

73 Bill of Exchange—Requirement as to the " Sum Certain in

Money. Question 75. Do you consider a draft drawn payable with bank charges negotiable? Answer.We would not consider this to be a bill of ...

74 Bill of Exchange; Time of Payment Depending on Arrival of

Goods. Question 76. Would you consider the following form of draft advisable: Sixty days after arrival of goods at destination pay to the order of? If ...

75 Bills of Lading as Security.

Question 77. A bank receives from the shipper of goods a bill of lading (railway receipt) issued by a railway company for goods deliverable to a third party, as security for a draft drawn ...

76 Bills of Lading as Security.

Question 78. Please consider the following points connected with grain shipments from the interior of Ontario to millers and grain dealers at the centres. As the grain has usually to be ...

77 Bill of Lading Obtained from a Carrier by Fraud and Held by a

Third Party as Security for an Advance. Question 79. Where a bill of lading issued by a public carrier to the order of a shipper, signed by the usual officer, is obtained by fraud,...

78 Bill of Lading to the Order of a Bank—Goods Delivered by the

Carrier to Someone other than the Bank without the Latter's Authority. Question 80. A bank cashes a draft accompanied by a bill of lading drawn to the order of the bank. If the ...

79 Part Payment of a Bill—Rights of Holders against Prior

Parties. Question 81. Can a bank accept part payment of a bill and reserve its rights for the balance against the endorsers by protest or notice of dishonour? Answer.&#...

80 Bills Payable in Sterling Drawn on Points in Canada.

Question 82. (1) Can a bank legally pay a demand draft, payable in sterling, drawn upon it by an English bank, at a less rate than that provided in section 71 (d) of the Bills of Exchange ...

81 Sterling Bill Payable at the Current Rate of Exchange.

Question 83. (a) A bill of exchange is drawn by a firm in London, England, on a merchant in Canada, in sterling, at sixty days' date, to be paid at maturity at the current rate of ...

82 Sterling Bill Payable "at the Current Rate of

Exchange. Question 84. A sterling bill on a Canadian house drawn at three days' sight is expressed to be payable at the current rate of exchange when due. Is ...

83 Sterling Bills—Rate of Exchange.

Question 85. What is the correct rate (demand or 60-day) to charge on a sterling acceptance when due? Why, custom or law? Answer.Under section 71, sub-section 6, of ...

84 Ninety-Day Bills—Rate of Exchange.

Question 86. What is the proper rate for a 90-day bill on London as compared with a 60-day bill, and how is it calculated ? Answer.The difference between a 60 and a 90-day ...

85 Current Rate of Exchange—Sixty-Day Bate.

Question 87. In many instances demand letters of credit drawn in Great Britain payable at the current rate of exchange are redeemed in Canada at the 60-day rate. I can see ...

86 Bill Payable "------ Months and a half after Date."

Question 88. Would months and a half after date be a good bill? Answer.There have been no judicial decisions as to the effect of an ...

87 When is a Bill Protestable.

Question 89. At a point occupied by a chartered bank only every other day, is the day next the maturing date of a bill the proper date to protest for non-payment when the due date falls ...

88 Bill Received for Collection with " No Protest " Slip

AttachedNo Instructions in Accompanying Letter. Question 90. A bill received for collection has a no protest slip attached, but in the letter enclosing it no ...

89 Bills Drawn on Canada "Payable with Exchange.''

Question 91. A sight draft for $1,000, drawn in New York on a firm in New Glasgow, payable with exchange, is sent to a bank in Halifax, thence to the agency of another bank in ...

90 Steeling Bill Drawn on a Canadian Bank—Rate of

Exchange. Question 92. The customer of a Winnipeg bank draws at London, England, a cheque on them for £1,000 sterling. What rate of exchange is the holder entitled to receive? ...

91 Special Bequest to Drawee of a Bill. Effect on Acceptance.

Question 93. A bill of exchange is drawn bearing the crossing, Accept all drafts. Any errors will be rectified at office. Is this an unconditional bill, and does the crossing ...

92 Bills of Exchange Act—What is Meant by " the Time of

Payment. Question 94. A by-law of a municipal corporation authorizes borrowings from the bank repayable on or before 15th December. The note tendered is made payable on 15th ...

93 Acceptance Payable " with Exchange "—Refusal of

Acceptor to Pay Exchange. Question 95. A draft for $100 and exchange, with a no protest slip attached to it, is sent to a bank in Halifax for collection ...

94 Acceptance Presented for Payment at Bank after Maturity.

Question 96. Is it proper for the bank to pay a customer's acceptance after maturity, assuming that it has funds at the customer's credit, that the acceptance is in order, and that it has ...

95 Power of Attorney to Accept Bills, Signed by an Attorney.

Question 97. The power of attorney sent out by banks to procure acceptance of drafts is frequently signed by an attorney of the drawee. Has he the power to instruct the bank to accept ?...

96 Bill Sent for Collection in an Indirect Manner.

Question 98. A bank in Kingston cashed for a customer, who endorses it, a cheque payable in Sault Ste. Marie, where it has no branch. It sends it to its Toronto branch, which turns it ...

97 Collections Sent to Private Bankers.

Question 99. A current account customer brings in a note for collection, made payable at a private banker's office in a place where there is no chartered bank. He is told that the ...

98 Bills of Lading.

Question 100. If a client ships on a local railway bill 500 barrels of flour with the bill of lading reading to the order of John Smith Co., Demerara, S. A., notify John Smith ...

99 Unpaid Bill Charged to Endorser's Account with Notice to Him, but

without Protest. Question 101. Is not a banker justified in charging an unpaid bill to the endorser's account, provided there are funds, without first protesting it, if he ...

100 Assignments of Book Debts.

Question 102. Would an assignment of book accounts which may be created during the year, be an effectual security. or is it necessary that the accounts should first be actually in ...

101 Assignment of Book Debts.

Question 103. Is an assignment of book debts to the bank, as the law now stands, valid as against other creditors ? Answer.We know of nothing to prevent the bank ...

102 Assignment of Book Debts.

Question 104. Would an assignment of book accounts hold good as against other creditors if the debtors were not notified by the bank of the assignment? Answer.We do not ...

103 Books on Banking Law.

Question 105. What are the principal publications bearing on the law of banking in Canada, and giving legal decisions, etc.? Answer.The only Canadian book on banking law ...

104 Borrowings by a Corporation beyond the Scope of its Powers.

Question 106. Two of the officials of an incorporated body borrow money from a bank. The corporation has no power to borrow, which fact is known to the bank. In the event of trouble ...

105 Joint Stock Companies—Limitation of Borrowing Powers.

Question 107. The amendment to the Company's Act passed by the Dominion Parliament last year says that the limitation on the borrowing powers of the company shall not apply to or ...

106 Branches of Banks—Interest to be Paid Same when

Self-supporting. Question 108. A branch with considerable discount business has a much larger amount of deposits bearing interest. At the end of the year, therefore, the ...

107 Canadian Bankers' Association Clearing House.

Question 109. Should not the word or on sixth line of Clearing House Rule No. 14 be on ? Will you kindly give an illustration of the working of Rule ...

108 Grand Trunk Railway and Canadian Pacific Railway Pay Cheques.

Question 110. Are the vouchers issued by the Grand Trunk and Canadian Pacific Railway companies, cheques? An article in the English Bankers' Magazine for April calls ...

109 Cheque Certified by a Bank " Good for Two Days

only. Question 111. Can a bank refuse payment of a cheque which it has marked good for two days only if presented after expiration of the two days? ...

110 Cheque Marked " Good foe Two Days only."

Question 112. A correspondent writes: In your issue of July, 1899, you have answered the question No. 1ll, which is: Can a bank refuse payment of a cheque which it has marked &...

111 Rights ok a Bank to Refuse to Certify or Accept Cheques.

Question 113. Has a bank a right to refuse to certify a cheque presented by the drawer, and payable to his own order, because it is not endorsed? Answer.We do not ...

112 Certification of a Cheque by the Drawee Bank—Right of the

Bank to Cancel its Acceptance after Delivery. Question 114. A cheque which has been dishonoured is handed by a bank to a solicitor for collection. On presenting it at the bank on ...

113 Certified Cheque—Would the Drawee Bank be Justified in

Refusing Payment on the Drawer's Instructions ? Question 115. Would a bank be justified in refusing to pay a certified cheque if instructions had been received from the drawer to ...

114 Crossed Cheques.

Question 116. Would a Canadian teller be justified in paying a cheque with two lines across the face? I take it that if a cheque were crossed to, say the Bank of Montreal, it would have ...

115 Changes of Bank Officials.

Question 117. Is it customary with Canadian banks, in case of a change of manager or accountant of an office, for the retiring manager or other constituted authority to inform the other ...

116 Chattel Mortgage on Growing Crops where Land Mortgaged TO ANOTHER

PARTY. Question 118. Jones's farm is mortgaged to a loan company, and his growing crops are covered by a chattel mortgage to a private banker. The loan company take proceedings to ...

117 Alteration of a Cheque after Certification by the Bank.

Question 119. A draws a cheque payable to B for $1,000; gets it certified by his bank, and sends it by post to B. B finds he does not need it and returns it to A, but omits to endorse it. ...

118 Cheque with the Amount Expressed in Figures only.

Question 120. The amount of a cheque is expressed in figures only, both in the body of the cheque and in the margin. Has the bank a right to refuse payment of a cheque so drawn, for ...

119 Cheque Drawn by a Firm to the Order of One of the Partners, Cashed

by another Bank and Lost in the MailsFailure to Notify Endorser of Dishonour. Question 121. 1. A post-dated cheque drawn by a firm on an American bank in favour of one of ...

120 Cheque Cashed by a Branch of a Bank other than the Branch on Which

it was DrawnSent for Collection and Lost in Mails. Question 122. A cheque on a bank in Hamilton in favour of A was cashed for him by a bank in Toronto. It was forwarded by ...

121 Certified Cheque Payable to the Drawer's Order— Subsequent

Garnishment of Funds at Credit of Account. Question 123. A customer of a bank draws a cheque on it in his own favour for the full amount of his balance and has it accepted. The ...

122 Certified Cheque — Responsibility when Bank Fails before

Payment of. Question 124. A cheque on bank B is deposited with bank A by Jones Company, who endorse it. Does bank A release Jones ...

123 Cheque Crossed by Payee Bank Payable at Par at a Branch of another

Bank. Question 125. A customer of a bank at St. Hyacinthe which has not a branch in Montreal, presents his cheque on the St. Hyacinthe Bank, which the latter at his request stamps ...

124 Cheque Dated January, 1899, Offered for Deposit in January,

1900. Question 126. A customer wishes to deposit with his bank, on 5th January, 1900, a cheque drawn on another bank dated 5th January, 1899. Is the bank justified in refusing to ...

125 Defacing a Dishonoured Cheque.

Question 127. A cheque has been dishonoured, and is charged back to the account of the customer from whom it was received. When charging it back the ledger-keeper marks the cheque with ...

126 Dishonoured Cheque—When May Same be Protested.

Question 128. Can a dishonoured cheque be protested before the regular bank closing hour? Answer.Neither a cheque nor any other bill of exchange can be protested before ...

127 Cheque—Delay in Presentment for Payment. Re-course against

the drawer. Question 129. A gets B to give him his cheque on bank Y for $500. He asks bank Z in the same town to cash it and hold it for a week without presenting, at the end of ...

128 Cheque Dishonoured and Paid after some Days Delay —Holder's

Bight to Interest. Question 130. A cheque dishonoured on 9th April is to be paid on 15th May. Has the holder a legal claim on the drawer for interest? Answer.A ...

129 Cheque Drawn on an Altered Form

Question 131.The name of the bank printed on a cheque was ruled out, and that of the one at which the drawer kept his account written in. Would this under any circumstances be a material ...

130 Cheque Drawn " Payment in Full of Account "—Right

of Drawee Bank to Refuse to Pay. Question 132. Has a bank any legal right to refuse payment of a chequeor is there any custom to warrant their doing so, there being funds ...

131 Cheque Endorsed by Payee—Refusal of Party Presenting to

Endorse. Question 133. A presents at the drawee bank a cheque payable to the order of B and endorsed generally by the latter, &...

132 Cheque Endorsed by Presenting Bank, "Deposit to Credit

of------ (Payee) . Question 134. Is a bank justified in refusing payment of a cheque which is not endorsed by the payee, but has been endorsed by the payee's bank as follows&...

133 Bill foe Collection Recalled after being Marked Good.

Question 135. A bill is presented by a collecting bank on the morning of the day it falls due, and is duly marked good by the bank at which it is accepted payable. Later in ...

134 Forged Cheque Cashed by the Drawee Bank.

Question 186. A cheque endorsed by the payee to a third party is presented by the latter to the bank on which it was drawn and duly honoured. It subsequently transpires that the drawer's ...

135 Forged Cheque Paid through the Clearing House— Right of

Paying Bank to Recover. Question 137. If a bank pays a cheque drawn on itself through the Clearing House, and some days afterwards discovers signature is a forgery, can it recover ...

136 Payment of Forged Cheque to Innocent Holder.

Question 138. A customer of a bank deposits an unmarked cheque drawn on another bank for credit of his account. This cheque is sent into the bank it is drawn on, through the Clearing ...

137 Refusal of Bane to Pay Customer's Cheque for Which there are

funds. Question 139. May the teller of a bank refuse to cash a cheque which is correct in every particular and for which there are funds ? The case in mind is one where the teller ...

138 Not Sufficient Funds.

Question 140. A has a cheque of $80, signed by B, on our savings department, but B has only $40 to his credit; is the bank justified to pay to A the balance remaining to B's account ...

139 Insufficient Funds for a Cheque.

Question 141. Would you think it well to amend the law so as to give to the holder of a cheque for which there are sufficient funds, a right to receive whatever amount there may be at ...

140 Rights of the Holder of a Cheque against the Drawee Bank.

Question 142. In your reply to Question 141, you say that the acceptance by the banks of the cheques for part of their amount would as a practice be open to objection. Would you kindly ...

141 Cheque—Guarantee of Endorsement.

Question 143. A cheque payable to Samuel Smith or order is endorsed: Pay to the order of Bank........ Deposited to credit of........ ...

142 Cheque Bearing the Words " In Full of Account."

Question 144. A cheque payable to order contains the words in full of account to date. If the cheque is used does this discharge the liability of the drawer to the payee of ...

143 Cheque Lost in Mail—Rights against Customer from Whom

Received and against Endorser. Question 145. A customer deposits a cheque drawn on an out-of-town point, which is duly credited to him, and sent by mail for collection. It is lost ...

144 Lost Cheque. Right of Drawer to Indemnity on Issue of

Duplicate. Question 146. A cheque is lost in transmission between a bank in Montreal and one in Toronto. The drawer refuses to give a duplicate unless the bank in Montreal gives a ...

145 Rights of Parties to a Lost Cheque, the Drawer being Dead.

Question 147. A cheque on a distant point is cashed for a customer, and is subsequently lost in the mails. The drawer of the cheque dies and the legal representatives refuse to give a ...

146 Cheque Made Payable at a Future Date.

Question 148. A cheque dated 15th December, 1901, has written across its face payable 15th January, 1903. Does such a condition invalidate the cheque? If not, would the bank ...

147 Cheque Crossed " Duplicate."

Question 149. A cheque is issued, having written across it the word duplicate. If the bank should pay this what would be its duty as regards the original? Is the drawer liable ...

148 Marked Cheques—Manager's Initials not Equivalent to an

Acceptance. Question 150. Is the presence of the manager's initials on a cheque a sufficient guarantee of its being marked good or accepted? Answer.If the ...

149 Marked Cheque Outstanding Ten Years. Cheque never Entered. No

Funds Held. Question 151. The manager of a bank marks a customer's cheque good, but omits to charge it to his account. The cheque is given to a third party as ...

150 Marked Cheque Raised Subsequent to the Marking.

Question 152. Could the bank on which a marked cheque is drawn, which has been raised after marking, be held responsible for more than the original amount under any ...

151 Cheque Marked before Hours.

Question 153. A cheque was presented between 9 and 9.30 a.m., and paid by the bank to the payee, who wished to get his business transacted early. At 9.30 a.m., the drawer of the cheque ...

152 Payment of a Countermanded Cheque—Responsibility of

Officers. Question 154. The teller and ledger-keeper in a bank have both received a valid notice to stop payment of a certain cheque. It is presented to the teller for payment, ...

153 Endorsement of Cheque—Omission from Endorsement of

Description of Payee. Question 155. A cheque drawn by the Order of Foresters payable to Mary Jones, widow of our late member, John Jones of Court M-------, ...

154 Cheque on an American Bank " Payable in New York

Exchange. Question 156. The A. Co. and the B. Co., the first having headquarters in Canada, the latter in the United States, are really one and the same corporation, with ...

155 Sterling Cheque on Canadian Bank.

Question 157. A man in London draws a cheque on a bank in Canada for so many pounds, shillings and pence, At what rate should it be paid? Answer.At the current rate for ...

156 Cheque or Acceptance Signed for a Firm by an Attorney Presented

after the Attorney's Death. Question 158. Would a bank be justified in refusing payment of a cheque signed by, or a bill accepted by, a person holding a power of attorney for a ...

157 Paid Cheques.

Question 159. Has a bank a legal right to retain paid cheques ? Answer.In the absence of any special agreement, we think the customer is entitled to receive back his ...

158 Memoranda of Partial Payments Endorsed on a Cheque.

Question 160. A gives his cheque to B in payment of a debt, and B endorses to C. The cheque is dishonoured. A, later on, makes partial payments in respect of the debt represented by the ...

159 Cheque Payable at a Future Date.

Question 161. A cheque dated 4th November, contains in the body the following instructions : On 20th November pay $50. Are these instructions binding, and is the drawee ...

160 Cheque Marked Payable only after a Certain" Date.

Question 162. Is it obligatory upon a bank to pay a cheque upon presentation, when upon face of same a proviso making it mature fifteen years after date appears? Could such cheque be ...

161 Payee.

Question 163. A depositor notifies his banker that he has issued a cheque payable to the order of John Smith, and wishes it paid only on the personal endorsement of John Smith. Is the ...

162 Cheque Payable to A B on the Endorsation of C D.

Question 164. A cheque is made as follows: Pay to A B upon the endorsation of C D. The cheque is endorsed C D only. Is the endorsement of A B necessary, and has ...

163 Cheque Payable to Bearer.

Question 165. Can the holder of a bill or cheque payable to bearer endorse it Payable to the order of A ? In other words, a bill or cheque being originally payable to bearer ...

164 Cheque to Bearer Drawn on an Outside Point—Bank's Right to

Refuse Negotiation without the Customer's Endorsement. Question 166. May a bank refuse to negotiate a cheque drawn on some other point and payable to bearer, unless endorsed by the ...

165 Cheque Payable to " Bearer " Endorsed to "

Order. Question 167. A cheque payable to John Smith, and properly endorsed: Pay to bearer, John Smith, is subsequently endorsed: &...

166 Cheque Payable to " Cash or Order."

Question 168. Does a cheque payable to cash or order require the endorsement of the drawer? Answer.No. If cash means literally cash ...

167 Cheque Payable to an Insolvent, Deceased.

Question 169. A man assigns and within a week dies. A cheque dated after his death which is made payable to him personally is presented for payment. Should the assignee of the estate or ...

168 Cheque in Favour of John Jones Paid to another Party of that

Name. Question 170. (1) I make a cheque payable to John Jones. This falls into the hands of the wrong John Jones, who presents it, demanding payment. The teller, knowing him to be ...

169 Cheque Payable to John Smith, Guardian for Mary and Patrick Brown,

Endorsed John Smith, Guardian. Question 171. A cheque made payable to John Smith, guardian for Mary and Patrick Brown is endorsed John Smith, ...

170 Cheque Payable to " James Smith, Overseer," Endorsed

James Smith. Question 172. (1) With reference to your reply to Question 171, is a bank justified in returning as not properly endorsed a cheque which is payable to &...

171 Endorsement of Cheque Payable to " Mrs. John

Smith. Question 173. A cheque is drawn in favour of and endorsed, Mrs. John Smith. Is the endorsement legal ? Answer.If the cheque were endorsed ...

172 Cheque in Favour of Mrs. J. Smith, Endorsed "

Mrs. J. Smith. Question 174. Is the following form of endorsement (1) valid as a matter of law, and (2) regular according to the Clearing House Conventions: Cheque drawn in ...

173 Cheque Drawn to " Order " altered to " Bearer

by Drawer after being Marked Good. Question 175. A cheque drawn payable to John Smith or order is marked good by a bank, specially to pay a pressing claim of John Smith's. ...

174 Cheque to " Order " Endorsed by the Payee " without

Recourse. Question 176. (1) A cheque payable to order is presented for payment by the payee, bearing above the endorsement the words Without recourse to me. ...

175 Cheque Payable to the Order of a Failed Firm.

Question 177. Supposing an assignment for the benefit of creditors were made by a firm, say John Smith Co. Would the endorsement of this firm, which is commercially dead, be a ...

176 Cheque to Order not Endorsed : Endorsement of Payee's Banker

Question 178. Do you approve of paying cheques drawn to order bearing in lieu of the payee's endorsement the following : Deposited to the credit of account of &...

177 Cheque Payable to Order—Right of Drawee Bank to Demand

Endorsement. Question 179. Section 8, clause 5, of the Bills of Exchange Act reads: Where a bill is expressed to be payable to the order of a specified person, and not to ...

178 Cheque Payable to " Order "—Right of Bank to

Demand Payee's Endorsement. Question 180. John Jones gives a cheque on the Bank of Montreal, Toronto, payable to C. Smith or order. Mr. Smith presents the cheque for payment, but ...

179 Right of Drawer Bank to Demand the Endorsement of the Payee of a

Cheque to Order. Question 181. (1) A cheque is drawn Pay to A. B. or order. The payee presents the cheque for payment to the bank on which it is drawn. ...

180 Cheque to Order Deposited Unendorsed.

Question 182. (a) A. Jones deposits with his bank a cheque, which he neglects to endorse, the cheque being made payable to his order. His banker endorses on the cheque: '' Deposited to ...

181 Cheque Payable to and Presented by an Insolvent Who has just

Assigned. Question 183. (1) A party having just assigned received, subsequent to assignment, two cheques, one from a creditor of the estate, and one from a friend, both drawn ...

182 Cheque to the Order of " Sam Jokes "—May the Bank

Pay to Anyone of that Name? Question 184. If a cheque is drawn in favour of Sam. Jones without any further description of payee, can the bank pay the money to any Sam. Jones, or ...

183 Cheque Payable to " Self," with Words " or Beaker

Scored out. Question 185. A cheque is drawn by John Smith, payable to self, the word bearer being scored out; in other respects the cheque is in ...

184 Cheque in Payment of Goods Accepted by Secretary of a Patron

Organization, Payable to Himself Personally, and Negotiated with a BankCheque DishonouredRights of Holder. Question 186. John Smith having been appointed secretary ...

185 Irregular Endorsements.

Question 187. A certified cheque on a bank in California, payable to Stephen Jones and Mrs. William Smith, and endorsed S. Jones and Sarah Smith, is paid by a Canadian bank. It goes ...

186 Cheque Presented by a Debtor of a Bank.

Question 188. The payee of a cheque drawn to order endorses it and presents it for payment. Can the bank rightfully apply the funds upon an overdue note it holds of the payee ? What if ...

187 Cheque Presented by Payee, Who is a Debtor of the Bank.

Question 189. The payee of a cheque drawn to order endorses it and presents for payment. Can the banker rightfully apply the funds upon an overdue note he holds of the payee's ? ...

188 Cheque Presented for Payment after the Drawer's Death.

Question 190. A cheque was presented, for which there were funds, but was refused because the drawer had died on the clay before presentation. In a similar case a few years ago within my ...

189 Presentation of a Cheque for Payment—Due Diligence.

Question 191. A suburban office of a city bank (or a bank not a member of the clearing house) receives a cheque from a customer on Saturday at ten o'clock a.m., hands the same to its city ...

190 Cheque Received from a Customer on Deposit, with a Prior

Endorsement Forged. Question 192. A cheque in favour of one T. A., and purporting to be endorsed by him, is received from a customer of ours on deposit; he endorses the cheque ...

191 Cheque Returned Unmarked by Drawee Bank, for Proper

EndorsationFunds Withdrawn before RepresentmentLiability of the Bank. Question 193. A cheque drawn on one of their country branches is received by one Toronto bank ...

192 Insufficient Funds for a Cheque.

Question 194. Would you think it well to amend the law so as to give to the holder of a cheque for which there are not sufficient funds, a right to receive whatever amount there may be at ...

193 Rights of the Holder of a Cheque against the Drawee Bank.

Question 195. In your reply to Question 194, you say that the acceptance by banks of cheques for part of their amount would be a practice open to objection. Would you kindly state the ...

194 Cheque Sent for Collection and Lost in the Mails.

Question 196. On July 18th we sent a cheque on a branch of La Banque Ville Marie to that branch for collection. On July 26th (which would be the usual time to ask its fate), hearing of ...

195 Cheques Signed by Attorney, the Depositor's Name being Written

without the Addition of the Attorney's Name. Question 197. A B has given C D a power of attorney to sign cheques on his account, and in a letter to the bank asks that the cheques ...

196 Stop Payment.

Question 198. A, who was the holder of a cheque signed by B, payable to bearer, notifies the drawee bank that he has lost said cheque and wishes payment stopped. By section 74 ...

197 Stop Payment of a Marked Cheque.

Question 199. (1) The successful tenderer for a contract being let by the town of B, discovers after being awarded the contract, that he has made a mistake in his calculations. He asks to ...

198 Stop Payment of Cheque—Cheque Certified by Drawee Bank

through Oversight Certification Cancelled. Question 200. The bank on which a cheque, payment of which has been stopped, is drawn, receives it by mail from an outside point....

199 Treatment of Cheques when Payment of Same has been Stopped.

Question 201. John Johnson gives his cheque to James Peterson, and subsequently instructs his bank to stop payment. Cheque is presented by mail by a second endorser, Peter Smith. The bank ...

200 Stop Payment of a Cheque—Subsequent Negotiation by Third

Party in Good Faith. Question 202. A issues a cheque payable to B or order, and subsequently stops payment of same. The cheque is negotiated to C, who does not know of payment ...

201 Dishonoured Draft—Right of a Banker to Charge a Portion of

the Amount to the Drawer's Private Account, Where there are not Sufficient Funds in His Business Account. Question 203. A customer has two current accounts (one an ...

202 Telegraphic Request to Hold Funds for a Cheque.

Question 204. Do you consider it safe for a bank to hold funds which are at a customer's credit, on a telegraphic request from another bank which is about to cash the customer's cheque? ...

203 The Acceptance or Certification of Cheques.

Question 205. A bank refuses to put an acceptance stamp over its ledger-keeper's initials certifying cheques and bills domiciled with it. (1) Is there any way in which we could compel ...

204 Cheque to Drawee's Order. Right of Bank to Have it Endorsed.

Question 206. A person presents a cheque, which he has himself drawn to his own order, to the bank on which it is drawn. Is he obliged to endorse it? Answer.For the ...

205 Cheque Torn across and Pasted together.

Question 207. Would a bank be justified in refusing payment of a cheque which had been torn across and pasted together? Answer.Yes. Unless perfectly satisfied as to its ...

206 Undated and Post-dated Cheques.

Question 208. Are undated and post-dated cheques negotiable ? Answer.They are not invalidated by the absence of a date or by being post-dated, and are therefore on the ...

207 Cheque Unmarked, Received on Deposit by the Bank on Which it is

DrawnRight to Recover on Finding THAT THERE ARE NOT FUNDS. Question 209. A bank receives on deposit from another bank a cheque drawn upon it by a customer, and enters the ...

208 Cheque Issued with Blank Space before or after the Amount.

Question 210. Referring to the report of the judgment in Bank of Hamilton v. the Imperial Bank, in the January issue of your Journal, would not a ledger-keeper be justified in ruling a ...

209 Note not Payable to " Order " or "

Bearer. Question 211. A note is drawn payable to John Jones simply, the words order or bearer being omitted. Is such a note ...

210 Individual Carrying on Business under a Trade Name. Signature on

Cheques, Etc. Question 212. A person carries on business under the firm name of The Quebec Lumber Company, and deposits a declaration to that effect in the ...

211 Clearing House Rules—Returned Items.

Question 213. Has not the paying bank until three o'clock the legal right to refuse to pay cheque presented through the clearing house, even though there be a local rule limiting the time ...

212 Clearing Houses.

Question 214. (1) Why have no clearing houses been established at Quebec and Ottawa ?* * Since established. J.K. (2) Would it not be advisable to put them in operation ...

213 Clearing House Systems.

Question 215. Every clearing bank in London, England, keeps a clearing account with the Bank of England, where is also kept an account known as the Clearing Bankers' Account. ...

214 Liability of Collecting Agent—Express Company.

Question 216. A bank at Creditburg sent a promissory note for collection addressed to The Express Company, Duntown. The agent of the express company collected the note and ...

215 Collections—Responsibility of Banks for the Selection of

Collecting Agents. Question 217. A bank receives on deposit from one of its customers a sight draft which is sent for collection to a branch of La Banque Ville Marie. The latter ...

216 Collections.—A Case of Negligence on Part of Collecting

Bank. Question 219. A bank on presenting a draft for acceptance is tendered a post-dated cheque for the amount. This it holds, together with the unaccepted draft, until maturity, ...

217 Collections Sent to Private Bankers.

Question 220. A current account customer brings in a note for collection, made payable at a private banker's office in a place where there is no chartered bank. He is told that the ...

218 Collections Sent to Private Bankers.

Question 221. A bill for collection is sent by a bank to a private banker, who is a customer of the bank, there being no chartered bank in the place where the bill is payable. The cheque ...

219 Keys and Combinations Lodged with another Bank.

Question 222. The manager and accountant of a bank hand to another bank in the same city a sealed package represented to contain duplicate keys and combinations of all the locks in the ...

220 Signature of a Company without the Name of the Signing

Officer. Question 223. Where a party trades under the name of a company, as for instance, The Canadian Iron Company, is it sufficient for him to use the name of the ...

221 Press Copies v. Carbon Copies.

Question 225. The practice of filing carbon copies of typewritten letters instead of copying them in letter books seems to be growing. 1 would like the opinion of other bankers as to the ...

222 Currency of Canada Convertible.

Question 226. Is the currency of Canada a convertible or an inconvertible one? Can I take $1,000 in legal tender notes to the Receiver-General and demand gold? Can I ...

223 Par Value of Foreign Currencies.

Question 227. Is there any recognized par value for francs and marks? Answer.The value of francs and marks is fixed by the Governor-General in Council, for customs ...

224 Days of Grace in England.

Question 228. How many days of grace are allowed in England on bills drawn (a) at sight, (b) at three days' sight, (c) at sixty days' sight? Answer.A sight bill payable ...

225 Debentures Held by a Bank as Collateral—Neglect of Bank to

Present Coupons Promptly. Question 229. A bond with coupons attached is held by a bank as collateral security. They neglect to collect the coupons as they mature, and ultimately ...

226 Debentures Issued without Coupons.

Question 230. A trading company makes an issue of debentures, secured by mortgage, over all its property, to which debentures no coupons are attached. Apart from the question of the ...

227 Note Delivered without Endorsement.

Question 231. (1) Is the maker of a note which is overdue protected in the payment of the same, to any one presenting it, upon having note delivered up to him without the endorsement of ...

228 Deposits between Banks at Points where there is no Clearing

House. Question 232. Two banks, at a point where there is no clearing house, exchange deposits before eleven o'clock each day. (1) Is it permissible for either to make a second ...

229 Deposits for Benefit of a Minor.

Question 233. What is the best way in which money can be deposited by a father to the credit of his son, age eleven? If the father placed it in his own name in trust for the son, ...

230 Deposit from Minor.

Question 234. Referring to your answer to Question No. 233, you give the impression that there is a limit to the amount which may be received on deposits from minors as applying to Quebec ...

231 Deposit in Name of A B, in Case of Death Payable to Creditors to

Garnish the Moneys. Question 235. A B deposits money as follows: ''A B for C D, but C D to have no power to draw. Can a debtor garnish this money for a private debt of A B ?<...

232 Deposit in Name of A B, in Case of Death Payable to C D.

Question 236. Is a deposit receipt payable to A B or in case of death to C D legal? Would C D in case of A B's death have a clear title to the amount irrespective of any will which A B ...

233 Accounts in Names of " A B, Sheriff," and " C D,

Trust Account Right of a Bank to Charge thereto Personal Acceptances. Question 237. If a draft is accepted by A B and C D individually, A B having an account styled &...

234 Deposit Account " in Trust "—Executor's Right to

Withdraw Funds. Question 238. Where a client of a bank opens an account in his own name in trust, and dies when the account is in funds, can his executor give a valid ...

235 Deposit in Name of Deceased Minor.

Question 239. A minor (resident in Ontario) dies leaving a balance in savings bank. Can the father of such minor draw the money ? What is the legal course to pursue ? Answer.&#...

236 Accounts in the Names of Minors.

Question 240. (1) What is the Ontario law relating to money deposited by minors? (2) Which would you advisethe opening of a savings bank account in the name of a minor, ...

237 Deposit in Name of Deceased Executor.

Question 241. A bank issued a deposit receipt to John Jones, executor. John Jones is now dead. The deposit receipt is not mentioned in his will. Are his executors legally entitled to ...

238 Account in Name of "Estate of John Smith," the Latter

Being still Living. Question 242. (1) Is it usual to open accounts in name of Estate of John Smith or Succession of Jean Smith while John Smith is ...

239 Trust Deposits—Withdrawal by One of Two Trustees.

Question 243. Are we to understand from sub-section 2, section 84, Bank Act, that a deposit in the names of two parties can be withdrawn by one of them? If one of the depositors died ...

240 Account in Name of Two Executors.

Question 244. An account stands in the name of two executors. Is it not legal, according to the Bank Act, for either alone to draw? Answer.If the circumstances connected ...

241 Account in Name or " Job Smith, ' Sheriff.' "

Question 245. Job Smith, sheriff, places a sum of money in current account in his name as sheriff, the money deposited being court funds. Smith is dismissed from office and a successor ...

242 Deposit in Name of " A B, Sheriff," or " A B,

Assignee. Question 246. A deposit account is opened in the name of A B, sheriff, and another in the name of A B, assignee. On A B's decease to whom ...

243 Moneys Deposited in Trust—Right of Beneficial Owner to

Control. Question 247. An account is opened in the following name, John Smith, in trust for Springtime Fire Brigade. In accordance with the rules of the Fire Brigade, ...

244 Trust Accounts.

Question 248. (1) Is there any objection to opening an account in the following form: Mary Brown, administratrix, John Jones, attorney, the power of attorney from Mary Brown ...

245 Deposit Receipts—Negotiability.

Question 249. Are deposit receipts transferable by endorsement ? Answer.The usual form of deposit receipt is, we think, a receipt for money, and an undertaking to '' ...

246 Negotiability of Deposit Receipts.

Question 250. Referring to my enquiry as to the negotiability of deposit receipts (Question 249), subjoined is a copy of the wording of the receipt which I had in mind : ...

247 Deposit Receipts "not Transferable."

Question 251. Would not the bank's responsibility as to the proper disposal of moneys held on deposit receipt be lessened if the words not transferable were omitted from ...

248 Deposit Receipts—Duty of Bank when Depositor Proves Loss or

Destruction of Same. Question 252. I am advised by a leading solicitor here that a bank can be compelled to pay the amount of a lost deposit receipt without a bond of indemnity, ...

249 Deposit with Private Banker Guaranteed by a Ba