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Canadian Banking Practice | by John T. P. Knight



"Canadian Banking Practice," as a work of reference, undoubtedly affords information upon almost every conceivable point likely to arise in the course of dealings between banks and their customers, and in addition to the knowledge of usage and custom likely to be acquired by the student of its pages, he will be given an appreciation of the general principles of the law governing banking and commercial transactions.

TitleCanadian Banking Practice
AuthorJohn T. P. Knight
PublisherF. Wilson-Smith, Montreal
Year1921
Copyright1921, John T. P. Knight
-Introduction To The First Edition
In 1895, the Editing Committee of the Journal of the Canadian Bankers' Association consisted of Mr. J. H. Plum-mer, then Assistant General Manager of the Canadian Bank of Commerce, Mr. J. Henderson, A...
-Preface To The Fourth Edition
In the present edition many new questions appear and the old answers have been thoroughly revised to conform with recent legislation and jurisprudence. Questions no longer of general interest have bee...
-Introduction To Fourth Edition
By Mr. Jas. B. Forgan, Chairman, Board of Directors, First National Bank of Chicago. In the daily course of banking business, while much is mere routine, every one of experience knows that question...
-Cheques Irregular In Form
1. One of the questions most frequently submitted to the Questions and Answers Department is as to whether a particular document in the form of a cheque, but which contains some variation, either by w...
-Promissory Note On Lien Note Form
Question 2. - An accommodation note is offered for discount drawn on a lien note form. Is this valid? If so is it necessary to affix a stamp? Answer. - It is taken that the document is intended to ...
-Lien Note Not A Negotiable Instrument
Question 3. - Is the following sample a lien note and not negotiable? Due .........$..................1918. ........days after date........promise to pay to the order of John Smith, at his office, ...
-Unregistered Lien Note In The North-West Territories
Question 4. - Is a lien note made in the North-West Territories negotiable as a promissory note when not registered? i.e., can a holder for value sue a previous endorser in his own name? Does the omis...
-Note Embodying A Contract
Question 5. - Is the following a legal form of promissory note? $3,000. Montreal, 31st October, 1899. On demand for value received, I promise to pay to J, Richardson or order at the Merchants Ba...
-Cheque With Voucher Detached
Question 6. - A voucher-cheque bears the clause This cheque is not negotiable if detached from voucher. As a cheque is an unconditional order to pay out funds, can a banker legally refuse payment ...
-Conditional Order Not Negotiable
Question 7. - (1) Is a document in the following form a negotiable instrument? Upon being endorsed by the secretary or president of the M - Agricultural Society this order shall be good to the bea...
-Cheque Marked By The Drawer "Not Negotiable" May Be Transferred
Question 8. - Bank A clears to Bank B a cheque in favor of Jones or order (and endorsed by him) drawn on a branch of Bank B at a distant point. Across the face of the cheque is written not negotiable...
-Promissory Note With A Memorandum That It Is To Be Used As Collateral Security
Question 9. - A promissory note bears (1) on one corner the words To be used as collateral security. (2) In the body the words To cover 50 per cent. of my subscribed stock in the above company....
-Special Request To Drawee Of A Bill. Effect On Acceptance
Question 10. - 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 affect in any way the...
-Note Payable To Order "Only."
Question 11. - We have just seen a note payable to the order of W. E. Davis, only. Is the note legally drawn and negotiable? Answer. - Such a note is legally drawn and negotiable. The word only i...
-Duty Of Customer In Preparing Cheques
12. - In MacMillan and Another v. London Joint Stock Bank the House of Lords made a definite pronouncement as to the duty to be exercised by the customer in preparing cheques, and the decision may be ...
-Cheque Written In Lead Pencil
Question 13. - Is a cheque written with lead pencil (not indelible) legal? Answer. - Yes, but there are obvious objections to the practice, and it should be discouraged. Certification should be ref...
-Cheque With Amount Expressed In Figures Only
Question l4. - Is a cheque written in figures only, legal? Answer. - Such a cheque is a valid order to pay, and a bank might be held liable for failure to honor it. The proper practice is to state ...
-Cheque With Amount Expressed In Embossed Figures
Question 15. - We are enclosing herewith a slip showing an embossing stamp, which is in use by one of our customers for completing the body of cheques instead of completing the body in writing. The wo...
-Cheques Signed With Rubber Stamp
Question 16. - The Supreme Court of Pennsylvania recently held that the fact that a bank depositor had procured a rubber stamp which made a facsimile of his signature, was insufficient ground for char...
-Signature By Mark
Question 17. - One of our Quebec branches sends us a cheque with pass-book attached drawn upon one of the other banks in town. The drawer of the cheque cannot write, but makes his mark and is witnesse...
-Witnessing A Signature By Mark
Question 18. - What does witnessing a man's mark imply, identification of the man, or merely that the witness saw the mark made? Answer. - Where the person making the mark is described in the docum...
-Note Bearing Corporate Seal Only
Question 19. - The Bills of Exchange Act, R. S. C. 1906, sec. 6, states that in the case of a corporation, where, by this Act, any instrument or writing is required to be signed, it is sufficient if t...
-Attorney For A Person Trading Under A Firm Name
Question 20. - John Brown, who carries on business under the name of John Brown & Co., gives a power of attorney signed John Brown only. Has the attorney power thereunder to sign for John Brown & Co...
-Correct Form Of Signature By An Attorney
Question 21. - Which is correct of the following forms of signature by an attorney: A.B. p. pro. CD. A.B. p. pro. C.D., Att'y. p. pro. A.B. CD. or is there a more correct form? An...
-Cheques Signed By Attorney, The Depositor's Name Being Written Without The Addition Of The Attorney's Name
Question 22. - 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 may be honoured when signed by C D, by writing A B's name without...
-Form Of Signature Which Renders Attorney Personally Liable
Question 23. - R. B. has authority under a Power of Attorney to sign for T. T. R. B. signs a note in this form: R. B., Agent for T. T. (1) Who is bound by this signature - R. B. or T. T.? (2) ...
-Joint Stock Companies - Power Of President To Sign Cheques
Question 24. - The shareholders of a company incorporated in Ontario pass a by-law authorizing the directors to appoint a president and other officers, and declaring that the president is to be the ma...
-Use Of Abbreviation "Ltd." On Bill Of Exchange Given By An Incorporated Company
Question 25. - If an incorporated company signed paper, i.e., notes, drafts, or cheques, with the word limited abbreviated so as to read Ltd., would the said paper be in any way invalidated? An...
-Note Signed By Two Of Three Executors
Question 26. - When there are three executors appointed to manage an estate, could any two of them, without consulting the third, make the estate responsible by attaching their names as makers or endo...
-Signature Of A Company Without The Name Of The Signing Officer
Question 27. - Where a party trades under the name of a company, as for instance, The Canadian Iron Compan; is it sufficient for him to use the name of the company in his signature, without the addit...
-Individual Using Trade Name
Question 28. - Jno. Robinson carries on business under the name of The Rochester Pork Co., for which he keeps a separate set of books. He has other assets which he treats as private assets not belon...
-Form Of Endorsement By Attorney
Question 29. - Does a power of attorney authorizing John Jones (not a member of the firm) to sign cheques for Smith & Co'y, entitle him to sign the firm name without adding his own name or initials as...
-Married Woman's Separate Estate
Question 30. - Does a married woman who has a separate estate render that estate liable when she signs a note with her husband, or has she to sign another paper showing she intended to make her separa...
-Joint And Several Note Payable "Within 30 Days Of Demand Of Payment."
Question 31. - Is there any legal objection to a note drawn in the following form: Within 30 days after demand of payment for value received jointly and severally promise to pay.......with interest...
-Note Payable "On Or Before" 1st July
Question 32. - Would a promissory note made payable on or before 1st July come within the terms of the Bills of Exchange Act? Answer. - We think such a note is payable at a determinable future t...
-Bill Of Exchange Payable "On April 1st After Date"
Question 83.- Many of the leading commercial houses of Canada in making drafts on their customers draw them to read for example, On April 1st after date, without any year being specified. Should the...
-Bill Of Exchange; Time Of Payment Dependent Upon Arrival Of Goods
Question 34. - A bill of exchange is drawn ........on arrival of goods, etc. This is not a bill of exchange under the terms of the Bills of Exchange Act. Is a bank running any risk in accepting this...
-Bill Of Exchange; Drawn At "Sixty Days After Arrival Of Goods."
Question 35. - Would you consider the following form of draft advisable: Sixty days after arrival of goods at destination pay to the order of------------? If so, what evidence should the bank collec...
-Cheque Made Payable On Certain Days Of The Week Only
Question 86. - A cheque drawn on another bank bearing the following notice was presented for deposit: This cheque is payable only on Monday, Wednesday and Friday of each week (legal holidays excep...
-Promissory Note Payable "With Interest."
Question 87. - Is it proper to make a note payable with interest without stating the rate? Answer. - A note in this form is perfectly valid, and interest is due from its date at the legal rate o...
-Bill Of Exchange Payable "With Bank Charges" Negotiability
Question 38. - Do you consider a draft drawn payable with bank charges negotiable? Answer. - We would not consider this to be a bill of exchange. Section 28 (d) of the Bills of Exchange Act decla...
-Goods Sold In England By Canadian Firm, To Be Drawn - For Plus Expenses - Form Of Draft
Question 39. - A Canadian firm sells in England goods at a cost of $1,000, for which they are to draw at sight, covering every expense. Should they draw for $1,000 plus charges in Canadian currency, o...
-Cheque With Words "Order" Or "Bearer" Omitted
Question 40. - A note is drawn payable to John Jones simply, the words order or bearer being omitted. Is such a note negotiable? Does the same rule apply to a cheque? Answer. - A bill or cheq...
-Cheque With Name Of Payee Left Blank
Question 41. - A cheque is presented payable to................. or bearer, with the name of payee left blank. Has paying bank the right to refuse payment on the ground that the cheque is not prope...
-Scored Out
Question 42. - A cheque is drawn by John Smith, payable to self, the word bearer being scored out; in other respects the cheque is in accordance with the common form. Is it legally payable to orde...
-Note Drawn In Favour Of A Bank With No Place Of Payment Specified
Question 43. - A joint and several note made by three parties is drawn in favour of a bank, but there are no words indicating that it is payable to its order or to bearer. The note is dated at the pla...
-Note Drawn To Maker's Own Order And Endorsed By Him
Question 44. - Is there any objection to notes being made payable to the order of the maker and endorsed by him instead of being made payable to the party to whom they are given? Answer. - There is...
-Bills Drawn On Two Or More Drawees Alternatively Or In Succession
Question 45. - A draft is drawn on (1) John Smith or Joseph Brown. (2) John Smith, or failing him, Joseph Brown. Would not these, under section 18, sub-section 2, of the Bills of Exchange Act, b...
-Note In Favour Of Joint Payees
Question 46. - Bills of Exchange Act, section 19, sub-section 2. Is there any objection to the form I promise to pay A.B. and C.D. or order........? It is claimed there is a legal weakness in this f...
-Form Of Notes Given By Joint Stock Companies
Question 47. - (1) What is the proper wording of a note to be given by a limited company (say The A.B.C. Co., Limited) to a bank? (2) A note reads We promise to pay, etc., and is signed as follow...
-Note Given By Trading Firm - Obligations Of The Firm And The Partners Individually
Question 48. - Two partners in a trading firm wish to borrow a sum for use in their business, and give the bank a promissory note signed by both individually and made payable to the order of the bank....
-Promissory Note With Name Of One Of The Payees Indicated By Initials
Question 49. - (a) Is the form of note written below correct? (b) Would a note endorsed in the same way but drawn in favour of a bank be a note sufficient in point of form to hold the endorsers if ...
-Cheque Crossed "Duplicate."
Question 50. - 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 on the original? A...
-Cheque Crossed Generally - Effect
Question 61. - A cheque is drawn as follows: uPay John Brown draft or bearer and is crossed, the crossing being a general one and not a specific crossing. Can the funds of that cheque be employed in ...
-Undated Cheques - Negotiability
Question 52. - Are undated cheques negotiable? Answer. - Section 27 of the Bills of Exchange Act states that a bill is not invalid by reason only that it is not dated. Undated cheques are therefore...
-Post-Dated Bills
Question 58. - What risk, if any, does the bank run in discounting a note dated ahead of the day of discount? Answer. - A post-dated bill is by sec. 27 (d) of the Bills of Exchange Act, declared to...
-Note With Date And Place Of Payment Blank
Question 54. - If in a note the date and place of payment are omitted, may the holder insert them? Answer. - It would be a material alteration within the terms of the Bills of Exchange Act for the ...
-Note Dated On Sunday
Question 55. - A contract made on Sunday is void. Supposing a note dated on Sunday falling due is not paid. Can the maker release himself of the obligation - or if the owner could prove by witnes...
-Cheque Marked Payable Only After A Certain Date
Question 50. - 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 looked upon as a...
-Cheque Made Payable At A Future Date
Question 51. - 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 be justified in paying ...
-Cheque Made Payable After Date - Drawee Entitled To Days Of Grace
Question 58. - 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 entitled to days of grace? ...
-Post-Dated Cheques - Payable On Demand On Or After Their Date
Question 59. - Will you kindly give me a ruling on the following which has arisen in this office: A cheque, on the usual cheque form, was presented on the 15th of September, the cheque itself was d...
-Post-Dated Promissory Note Bearing Date After Death Of Maker
Question 60. - Is a note in the following form collectible from the estate of the maker if he should die before March 18th, 1918? $200. March 18th, 1918. Two months after date for value received...
-Bill Payable "Months And A Half After Date."
Question 61. - Would ---------months and a half after date be a good bill? Answer, - There have been no judicial decisions as to the effect of an order for the payment of money at --------month...
-Cheque Issued With Blank Space Before Ok After The Amount
Question 62. - Referring to the judgment in The Imperial Bank v. Bank of Hamilton (1903), A. C. 49, would not a ledger-keeper be justified in ruling a line in the unused space where the amount is writ...
-Cheque Drawn On An Altered Form
Question 63. - 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 alteration?...
-Completion Of A Cheque Signed By The Drawer In Blank
Question 64. - If a cheque is presented to a bank by a third party, signed by the depositor in blank, and accompanied by the pass-book, the party presenting it stating that he was authorized to fill o...
-Receipts For Moneys Advanced On Discounted Notes
Question 65. - Is it necessary to have proceeds cheques or debit slips, when used for the purpose, signed by the maker of a note when he received the money, or when he renews the note? Does not the te...
-Notice To Obligors On Discounted Paper
Question 66. - It has become a custom of the banks in this Province (British Columbia) to send out notices of maturity to acceptors of drafts and makers of notes. Does this custom extend to bankers in...
-Bills Requiring Presentation By Mail - Power Of Attorney In Favour Of A Bank Manager To Accept. Signed In Name Of Firm By One Of The Partners
Question 67. - A bill is drawn on a firm doing business at a point where there are no banking facilities, and is sent for collection to the nearest bank. The latter sends the drawee the usual form of ...
-Bill Accepted By The Collecting Bank On A Power Of Attorney. Authority To Give Power Of Attorney
Question 68. - 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 drawees, to the latter, a trading company in a neighbouri...
-Power Of Attorney To Accept Bills In Favour Of A Bank Manager - Omission To Accept
Question 69. - 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...
-Power Of Attorney Authorizing A Bank Manager To Accept A Bill Held By The Bank For Collection
Question 70. - A bill drawn at Bank B is sent to Bank \ for collection. The manager of the latter procures from the drawee a power of attorney to accept the bill on the usual form. Is Bank B entitled ...
-Bill Accepted Under Power Of Attorney - Right Of Bank To Retain The Power Of Attorney
Question 71. - 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 attorney. Bank A being compelled to sue, request...
-Bills Accepted By Attorneys And Officers Of Incorporated Companies. Collecting Agent's Responsibility For Regularity Of Acceptance
Question 72. - (1) A bank received for collection a bill of exchange drawn on an incorporated company; does the bank incur any liability with regard to the acceptance which it takes, i.e., that it is ...
-Bills Of Exchange Requiring Presentation By Mail
Question 73. - We receive for presentation a draft drawn by a firm in England on a party resident in a village adjacent to our office, from which there is a daily mail to this city, delivered here dur...
-Collections Requiring Presentation By Mail
Question 7.4. - Referring to the previous answer, will you be kind enough to give a somewhat fuller opinion in this matter, as it is one which is continually cropping up. You say, The only question i...
-Joint Stock Companies - Authority Of Officers To Accept Bills
Question 75. - The secretary-treasurer of a limited company accepted drafts on its behalf. On enquiry from the president as to the authority of the secretary-treasurer I was told that it was not neces...
-Presentation For Acceptance - Time In Which To Be Made
Question 76. - Could not something be done to effect a change in the law which holds banks responsible for payment of a draft if not presented for acceptance within forty-eight hours? It is often impo...
-Refusal Of Drawee To Give Up Bill Lift With Him For Acceptance
Question 77. - Bank A presents draft for acceptance to drawee who after holding for some time refuses either to accept or to give up the bill. Bank A notifies forwarding bank B to this effect and asks...
-Domiciliation Of Bill By The Acceptors
Question 78. - 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. - Under section 38 of the Bi...
-Place Of Payment Of A Bill - Blank Form Of Acceptance Naming Place Of Payment
Question 19. - In making drafts on their customers it is the habit of some houses to provide a blank acceptance on the draft, naming the place of payment, ready to be signed by the drawee. (1) Is t...
-Place Of Payment Of An Acceptance
Question SO. - A bill dated at Woodstock and drawn on a party in St. John reads: Pay to the Merchants Bank here the sum of . Is this bill payable in Woodstock or St. John? Answer. - It migh...
-Bill Of Exchange Accepted By Only Two Of Three Drawees
Question 81. - 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 non-acceptance...
-Acceptance Under Power Of Attorney - Date
Question 82. - Power of attorney slip for collection which we held was sent to the drawee, who returned it dated 4th May. This was not received by us in the mails until the 9th May. Should the bank, i...
-Post-Dated Acceptance
Question 83. - A bill of exchange payable one month after sight is presented for acceptance on the 12th January. The acceptor writes his acceptance across it, but adds as the date 16th January. The ...
-Antedated Acceptance
Question 84. - 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? Answer. - W...
-Sight Draft - Days Of Grace
Question 86. - A draft was sent to this office drawn At sight after March 1st. This draft was accepted dated March 4th. Was the draft due on 4th or 7th of March? Answer. - The March 1st seems ...
-Bill At Three Months Sent By The Holder For Collection - Neglect Of Collecting Agents To Present For Acceptance Until Near The Date Of Maturity
Question 87. - A bill dated 30th August, at three months, drawn by A. in favour of B. on the ------ Mfg. Co. in the State of New York, was endorsed by B. and discounted with a branch of the Y. Bank. I...
-Sight Draft Dishonoured By Non-Acceptance - Liability Of Drawer And Endorsee
Question 88. - (1) A.B. and CD. are the makers of a sight draft upon X.Y. in favour of M.N., who becomes a holder for value before acceptance. Acceptance is refused. (2) A.B. is the maker of a sigh...
-Bill For Collection Recalled After Being Marked Good
Question 89. - 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 Kb the day the collecting b...
-Cancellation Of Acceptance
Question 90. - 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 acceptance, saying ...
-Collections - A Case Of Negligence On Part Of Collecting Bank
Question 91. - 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, when the cheque is dishono...
-Negligent Persons - How They Should Be Dealt With
Question 92. - What is the best way to deal with parties who are negligent about business matters and never accept drafts in required time - who never attend to their notes when due until told on day ...
-Right Of A Bank To Refuse To Certify Or Accept Cheques
Question 98. - 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 think that the ordinary contra...
-The Acceptance Or Certification Of Cheques
Question 94. - 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 them to do so, ...
-Marked Cheques - Manager's Initials Not Equivalent To An Acceptance
Question 95. - Is the presence of the manager's initials on a cheque a sufficient guarantee of its being marked good or accepted? Answer. - If the question has reference to the common practice of t...
-What Constitutes Valid Acceptance
Question 96. - 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 acceptance?...
-Cheque Certified By A Bank "Good For Two Days Only"
Question 97. - 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? Answer. - We think that after the two days have expi...
-Cheque Marked "Good For Two Days Only"
Question 98. - A correspondent writes: In your issue of July, 1899, you have answered the question No. 97, which is: Can a bank refuse payment of a cheque which it has marked good for two days onl...
-Certification Op A Cheque By The Drawee Bank - Right Op The Bank To Cancel Its Acceptance After Delivery
Question 99. - A cheque which has been dishonoured is handed by a bank to a solicitor for collection. On presenting it at the bank on which it is drawn, he is informed that the party has just made a d...
-Cheque Crossed By Payee Bank Payable At Par At A Branch Of Another Bank
Question 100. - 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 payable at par at the M...
-Certified Cheque - Responsibility When Bank Fails Before Payment Of
Question 101. - A cheque on bank B is deposited with bank A by Jones & Company, who endorse it Does bank A release Jones & Company when it gets the cheque certified by bank B? If so, does it n...
-Certified Cheque - Item Standing For Seven Years
Question 102. - A customer's account show a debit entry outstanding for seven year. Assuming it to be a marked cheque, has the obligation of the bank to pay it ceased under the Statute of Limitations?...
-Marked Cheque Outstanding Ten Years. Cheque Never Entered. No Funds Held
Question 108. - 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 security in connection with a contract, who holds...
-Certified Cheque - Would the Drawee Bank be Justified in Refusing Payment on the Drawer's Instructions?
Question 104. - Would a bank be justified in refusing to pay a certified cheque if instructions had been received from the drawer to stop payment? Answer. - The bank by certifying or accepting a ch...
-Savings Bank Cheques Marked "O.K." By Ledger-Keeper
Question 105. - It is a custom in Canadian banks that they will not mark cheques on their savings department, but instead have the ledger-keeper O.K. them, adding his initial to the O.K. The proce...
-Cheque Endorsed By Mask
Question 106. - A cheque payable to order is endorsed by mark (properly witnessed). It is presented through the clearing house bearing the usual stamped endorsement of the presenting bank. Is the en...
-Endorsement By Rubber Stamp
Question 107. - Could a bank's customer repudiate the following or similar endorsement, made with a rubber stamp on a cheque taken in deposit, the name as well as the instructions being stamped: P...
-Endorsement By Partner In A Firm
Question 110. - A cheque in favour of Smith, Brown & Company is endorsed with a rubber stamp Smith, Brown & Company, per , one of the firm signing his name underneath. Is this endorsement regular? ...
-Endorsement By An Official On Behalf Of A Company
Question 111. - What is the legal difference, if any, affecting either the bank itself or its signing officers, between the following forms of signing drafts, receipts, orders, etc.: The Bank of Cana...
-Endorsement Of Cheque Drawn To Order Of "Cash."
Question 112. - Should a bank obtain the endorsement of maker if a cheque presented for payment is made out to the order of cash. Answer. - The usual practice is to treat cheques to order of cas...
-Bill For Collection - Should Be Endorsed By Banks Sending Same For Collection
Question 118. - 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 is not made payable to the sendin...
-Note Made Payable To Selling Agent - Negotiability
Question 114. - Can the endorser give a bank a title to the following note: The J. P. Jones Company, Limited. $147.14. Pittsburg, Pa. On four months after date I promise to pay to the order of J...
-Endorsement Of Cheque - Name Of Payee Incorrectly Spelled
Question 116. - A cheque is made out on the Dominion Bank. Winnipeg, payable to Alex. Coming, or order. It it presented at the Merchants Bank, Portage la Prairie, and is endorsed Alex. Camming. th...
-Endorsement Of Cheque - Payee Incorrectly Designated
Question 116. - (1) Bank A holds a cheque on Bank B payable to The Bonshaw Creamery Co. (Buttermilk) or order.This company is non-existent and cheque is endorsed The Bonshaw Creamery Co., being the...
-Endorsement Of Cheque Payable To The Order Of A Club
Question 117. - A cheque is payable to the order of the Metropolitan Polo Club (an incorporated company). Would it be in order, under the Rules respecting Endorsements, if it were endorsed simply T...
-Endorsement In The Name Of A Registered Company - Capacity And Authority Of Person Signing Should Be Indicated
Question 118. - Please advise whether, according to the Rules respecting endorsements adopted by the Council of the Canadian Bankers' Association, the following is a regular endorsement: The Bost...
-Endorsement In The Name Of An Incorporated Company - Official Position Of Person Signing Must He Stated
Question 119. - One of the Rules respecting Endorsements, adopted by the Canadian Bankers' Association, is as follows: If purporting to be the endorsement of a corporation, the name of the corp...
-Individual Carrying On Business Under A Trade Name. Rules Respecting Endorsement Of Cheques, Etc
Question 120. - A person carries on business under the firm name of The Quebec Lumber Company and deposits a declaration to that effect in the prothonotary's office in accordance with law. He uses t...
-Prefix "Mrs." To An Endorsement
Question 121. - Does the words Mrs., placed before a woman's signature as an endorsement, invalidate it in any way? Answer. - No. The sole question in all cases is that of identity, and assuming ...
-Endorsement Of Cheque Payable To "Mrs. John Smith."
Question 122. - A cheque is drawn in favour of and endorsed, Mrs. John Smith. Is the endorsement legal? Answer. - We think that this endorsement is irregular, Mrs. John Smith not being a prope...
-Cheque Payable To John Smith, Guardian For Mary And Patrick Brown, Endorsed "John Smith, Guardian."
Question 123. - A cheque drawn by the Order of Foresters payable to Mary Jones, widow of our late member, John Jones of Court M---------, is endorsed simply Mary Jones. The bank on which it is ...
-Endorsement By Married Women Of Cheques Made Payable In Their Maiden Names
Question 124. - (1) Mrs. Smith's maiden name was Mary Jones. She presents to a bank for payment a cheque payable to Mary Jones. Has she authority to endorse Mary Jones? Are there any legal points...
-Cheque Payable To "James Smith, Overseer," Endorsed "James Smith."
Question 126. - With reference to your reply to Question 125, is a bank justified in returning as not properly endorsed a cheque which is payable to James Smith, Overseer, and endorsed simply Jame...
-Cheque To The Order Of "John Smith, Collector Of Customs," Endorsed By The Assistant Or Acting Collector
Question 127. - A cheque is payable to John Smith, collector of customs. Are the following endorsements in order: James Brown, Assistant Collector, or William Jones, Acting Collector? Answer. ...
-Cheque Payable To "John Smith, Truste," Endorsed "John Smith."
Question 128. - Has a bank a legal right to refuse to accept the endorsements mentioned below: Cheque payable to John Smith, Trustee, and endorsed John Smith; or payable to John Smith, Treasu...
-Cheque Payable To "John Smith" Endorsed "John Smith, Secretary Jones Manufacturing Company."
Question 129. - Is the endorsement John Smith, Secretary Jones Manufacturing Company, upon a cheque payable to the order of John Smith, irregular? Section 52 of the Bills of Exchange Act would see...
-Endorsement "J. Smith" On Cheque To Order Of "Joseph Smith."
Question Iso. - A cheque payable to the order of Joseph Smith is endorsed J. Smith. Would the bank be justified in refusing to pay it if endorsed by and presented by another customer? Answer . - ...
-Irregular Endorsement On A Marked Cheque
Question 181. - A sight draft on one of our customers, accepted by him payable at our office, is presented when due and marked good. When it comes in from the bank holding it next morning, we find tha...
-Irkboulak Endorsements - Neglect To Indicate Authority Of Person Signing
Question 133. - Are the following endorsements regular under the rules? A. John Smith, p. Tom Jones. B. The Winnipeg Marble Company, William Brown. In the second case there is no incorpora...
-Cheque To Order Not Endorsed:Endorsement Of Payee's Banker
Question 134. - Do you approve of paying cheques drawn to order bearing in lieu of the payee's endorsement the following: Deposited to the credit of (the payee), endorsement guaranteed. John Smith. M...
-Stamped Endorsement By Bank On Cheque Irregularly Endorsed By Payee
Question 185. - What does the following stamp signify to the bank on whom a cheque is drawn when placed on local cheques, as regards former endorsements? For Deposit Only. Through..................
-Endorsement "Deposited To The Credit Of " - Signature Of Teller
Question 136. - Is a cheque payable to John Jones or order and endorsed as follows, technically correct? Deposited to the credit of John Jones, in the Bank of Canada, Salt Creek, Alta. John Bull...
-Cheque - Guarantee Of Endorsement
Question 1S7. - A cheque payable to Samuel Smith or order is endorsed: Pay to the order of Bank........ Deposited to credit of........ Samuel Smith. Can the bank on which it is drawn le...
-Liability Of Bank Under Its Ordinary Endorsement Stamp Without Guarantee Clause
Question 188. - At points where no Clearing House exists and the rules fixed by the Bankers' Association do not therefore govern, does the ordinary bank endorsement stamp (without guarantee clause) ho...
-Endorsement "For Identification Only."
Question 189. - A cheque is endorsed by the payee thus: John Smith for identification only. Can he be held liable in case of non-payment? Answer. - No; the endorsement amounts to an endorsement w...
-Cheque Payable Only On Personal Endorsement Of Payee
Question 140. - 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 banker bound t...
-Endorsements. Right Of Accepting Bank To Require Endorsement Of Draft Before Payment
Question 142. - Bank A sent a demand draft made payable to their own order and not endorsed by them to bank B for collection. Bank B presented to drawees who accepted draft payable at bank C, to whom ...
-Deposit To The Credit Of A Joint Account Of Unendorsed Cheque Payable To The Order Of One Person
Question 143. - A cheque made payable to the order of John Jones, not endorsed by him, is deposited to the credit of a joint account John or Mary Jones. Is this legal? Answer. - No. Such cheque not...
-Cheque Payable To The Order Of One Person Must Be Endorsed By Him Before It Can Be Deposited To The Credit Of A Joint Account
Question 144. - A cheque of the Department of Militia and Defence, Ottawa, for $100.00, payable to the order of John Smith but not endorsed, was presented to us by Mrs. John Smith, who wanted to take ...
-Draft Payable To "Stephen Jones And Mrs. William Smith," Endorsed "S. Jones And Sarah Smith."
Question 145. - A draft made payable to Stephen Jones and Mrs. William Smith, and endorsed S. Jones and Sarah Smith, is refused on the ground that the endor-sation is irregular. Do you not think i...
-Cheque In Favour Of "Mrs. A. A. Smith" Endorsed "B. R. Smith." - Responsibility Of Presenting Bank
Question 146. - A cheque payable to Mrs. A. A. Smith or order is endorsed B. B. Smith, and paid under a guarantee. (1) What is the exact position of the paying bank under the guarantee? (2) Wo...
-Endorsement Of Bill Of Exchange Payable To A Married Woman In The Province Of Quebec
Question 147. - 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 negotiated on her endorsement...
-Accommodation Endorsement By Married Woman - Invalid In The Province Of Quebec
Question 148. - A married woman holding property in her own right endorses a note as an accommodation endorser. Could a bank, having discounted same for the promissor, collect from her? Would it be ne...
-Banks Under No Obligation To Give Reason For Refusal To Honour Cheque
Question 149. - 1. Bank A receives a cheque deposited to the credit of Smith & Jones, drawn on the bank B. The cheque is payable to Smith & Jones, and is endorsed John Smith, one of the partners. In...
-Cheque Payable To "Smith And Jones" Endorsed "Smith And Jones, Per R. Smith"
Question 150. - A gentleman came into the office, by the name of R. Smith. He presented a cheque payable to Smith and Jones. eque was endorsed Smith and Jones, per R. Smith. Smith has no power to si...
-Endorsement In Payee's Name Without Authorization
Question 151. - Jones and Brown trade and carry on business together, though no registered partnership exists, Jones attending to all the banking. Brown receives a cheque in payment of goods sold by h...
-Non-Trading Partnership - Individual Liability On Paper Endorsed By And Discounted For The Firm
Question 152. - Is it necessary that a firm of solicitors should sign and register a certificate of partnership such as is required in case of a trading partnership, in order to hold them jointly and ...
-Cheques In Favour Of Municipalities Or Incorporated Companies - Negotiability
Question 158. - Should a cheque payable to the order of a municipality or to a limited company be negotiated in any way except for credit of payee? Could it be endorsed over to a second party by any o...
-Dishonoured Drafts - Suit By Drawer Against Acceptor - Endorsement Of Payee Bank "Without Recourse."
Question 154. - A drew a draft on B, which was payable to order of Bank of Nova Scotia, Kentville, N.S. B accepted it, but dishonoured the draft by non-payment at maturity. Without endorsing the draft...
-Note Delivered Without Endorsement
Question 155. - (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 the payee? ...
-Dishonoured Note - Liability Of Accommodation Endorsee To Payee Bank
Question 156. - An instrument in the following form is discounted by a bank: $350......P. E. I.......1917. Four months after date I promise to pay to the order of the Bank of .........., the sum o...
-Cheque Payable To A B On The Endorsation Of C D
Question 157. - 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 the paying Bank any right to refu...
-Note Endorsed By B "Without Recourse " - Suit Brought In Name Of B By Subsequent Holder
Question 158.- A gives note to B, who endorses without recourse and passes same to C for value received. C sues in name of B without being a party to suit. Can B legally recover amount of note? A...
-Cheque Returned Unmarked By Drawee Bank, For Proper Endorsation - Funds Withdrawn Before Re-Presentment - Liability Of The Bank
Question 159. - A cheque drawn on one of their country branches is received by one Toronto bank from another, through the clearing house. There are funds for the cheque when it reaches its destination...
-Order Of Endorsements On Promissory Note - All Parties Equally Liable To Discounting Bank
Question 160. - A bank discounts a promissory note for its customers, Brown Brothers, drawn by J. Smith, to their order. Brown Brothers have apparently insisted upon an endorser to the note before acc...
-Rights Of Endorsers Among Themselves
Question 161. - AB sends CD a three months' note in settlement for an invoice of goods. CD, finding he cannot discount the note, returns it to AB, asking that another name be added in order that he ma...
-Endorsement Placed Above Signature Of The Preceding Endorser
Question 162. - A signs a promissory note payable to B, B in order to get it discounted gets C to endorse. C's endorsement, however, is placed before B's on the note. Would C be liable to B as their e...
-Sight Draft Made Payable To The Order Of A Bank And Discounted Upon The Security Of An Accommodation Endorsement
Question 163. - A sight draft is made by A upon B, drawn out payable to the order of......bank, and cashed upon the security of the endorsement of C. Is there any question regarding the wording...
-Accommodating Endorsement On Bill Discounted By A Bank And Made Payable To Its Order - Right Of Payee Bank To Recover From Endorser
Question 164. - 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 bank. The bank discounted the bill, which is dishonoured at maturity an...
-Accommodation Endorsement - Liability Of Endorser To Payee Bank Which Has Discounted Note In Good Faith
Question 165. - A note is made out payable to the order of the Bank of Nova Scotia and is endorsed by James Jones. Will not the note hold the endorser the same as if it were made payable to the order ...
-Note With Endorsement Of Third Party Placed Thereon Before Endorsement Of Payee - Liability Of Former To Holder In Due Course
Question 166. - A promissory note has been endorsed by John Smith before John Brown, the payee, has endorsed it. Subsequently the payee endorses it. Can John Smith be made liable as an endorser or oth...
-Guarantee Written Upon A Bill Or Note - Notice Of Dishonour,
Question 167. - A man writes and signs upon the back of a bill or note the following: I hereby guarantee payment of the within. Is he entitled to notice of dishonour? Answer. - We think not, and ...
-Guarantee Written Upon A Note - Liability Of Guarantor
Question 168. - (1) Could the amount of the subjoined note be collected from Jno. Smith, if at maturity Jno. Jones was unable to pay it? (2) Could it be collected from Smith if he had simply writte...
-Note Transferred By Payee With The Endorsement "I Guarantee Payment Of The Within Note" - Right Of The Holder To Enforce Proper Endorsement
Question 169. - A B transfers to C, for value, a note which is payable to his own order, endorsing it as follows: I guarantee payment of the within note. A B. There is no other endorsement on the no...
-Form Of Bank Endorsement Stamps
Question 170. - Two branches of the same bank use different endorsement stamps for cash items, collections, etc. One reads Pay to the order of any bank or banker, and the other reads Remitted for c...
-Non-Trading Partnership - Liability Of Partners On Negotiable Instruments
Question 171. - To what extent are partners in a non-trading partnership liable to a bank: 1. In respect to an endorsement made by one member of the firm on a note given to them in settlement of an...
-Failure Of Consideration For Note - Does Not Affect Right Of Holder In Due Course To Enforce Payment
Question 172. - An insurance agent discounts with a bank notes in payment of premiums on a policy which it turns out was, for some reason, not issued. The bank takes the notes in good faith, asking no...
-Collateral Security - Rights Of Holder For Value
Question 178. - A bank discounts for a customer his unsecured note for $1,000. Subsequently during the currency of this note the promissor hypothecates another party's note in his favour, as collatera...
-Presentation For Payment Not Excused By Request From Drawee To Return The Bill Before Maturity
Question 174. - A has accepted a draft held for collection by Bank C, payable at Bank B, and the day before it falls due he instructs Bank C to return it to the drawers unpaid. Should Bank C present i...
-Time And Demand Bills In England
Question 175. - Please distinguish between an English time and demand bill of exchange. If a bill were sent to London office for collection, payable on demand in Edinburg, Scotland, would this be cons...
-Days Of Grace In England
Question 176. - 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 in England is not entit...
-Days Of Grace Not Allowed On Demand Bills
Question 177. - Under direction from the drawer in a distant town, a demand draft is presented through a branch bank upon a firm with instructions to obtain immediate payment. The drawees insist that ...
-Bill Drawn "At Sight," With One Day's Grace
Question 178. - 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, pay, etc. How sho...
-Lien Notes Not Negotiable And Therefore Not Subject To Days Of Grace
Question 179. - Are there three days of grace on a lien note, (a) when left for collection or as collateral security; (b) when discounted. If a lien note is discounted, does it require a stamp? Can a ...
-Alteration Of Date Of Maturity - Days Of Grace
Question 180. - 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 days of grac...
-Note Issued On June 30th "At One Month " - Date Of Maturity
Question 181. - A note is drawn June 30th, at one month. Allowing three days' grace will date of maturity fall on August 2nd or August 3rd? Answer. - August 2nd. The month is a calendar month, i.e....
-Bills Of Exchange Act - What Is Meant By " The Time Of Payment."
Question 182. - 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 December. With the three days' g...
-Note Payable At Payee's Office - Death Of Payee
Question 188. - A note is made to read as follows: I promise to pay AB or order at his office, etc. AB endorses the note and has it discounted. Before it is due AB dies and his office is closed up. ...
-Note Payable At A Branch Bank - Branch Closed And Business Transferred Elsewhere - Presentment
Question 184. - A note is payable at a branch of a bank at A., but after the making and before it is due, the branch at A. is closed and the books and business are transferred to B., at the branch of ...
-Legal Bank Holidays
Question 185. - 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, close the...
-Bill Drawn Payable At One Bank, And Accepted Payable At Another
Question 186. - 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, Montreal, for collection, and accepted payab...
-Presentation Of A Cheque For Payment - Due Diligence
Question 187. - 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 office (or...
-Acceptances Domiciled At The Acceptor's Bankers - Rights And Duty Of The Banker On Presentation For Payment
Question 188. - 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, making it payable at the bank where his ...
-Payment By A Bank Of A Bill On A Customer Not Accepted By Him
Question 190. - 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 recourse, or must it abide ...
-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 191. - A bill drawn on and accepted by two drawees is made payable at a bank. Is the bank authorized at the maturity of the bill to pay it and charge it to one of the two acceptors? Answer...
-Draft - " No Protest For Non-Acceptance." Return Of Bill Dishonoured On Day Following Maturity
Question 192. - A draft sent by Bank A to Bank B for collection with instructions - No protest for non-acceptancen attached, was returned by Bank B to Bank A on the first business day after the matur...
-Insanity Of Customer - Charging Of Acceptances
Question 193. - A customer of a bank, who has become insane, has a balance at his credit. Before becoming insane he accepted drafts payable at the bank. The manager of the bank knows that the customer...
-Dishonoured Cheque - Acceptance Of Tender Of Payment After Banking Hours
Question 194. - A cheque drawn on Bank A. by B. is forwarded for collection by Bank C. to Bank D. A. refuses the cheque, N. S. F., but B. tenders payment during the day or after three o'clock to D. ...
-Bill Accepted Payable At A Bank Where The Drawee Has No Account
Question 195. - 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 at the bank? He has no curre...
-Partial Payment of a Bill - Should a Bank Accept?
Question 196. - Is there any law relating to part payment of a bill (by promissor or acceptor or his agent) held by a collecting agent? A a came to my notice where a part payment was left with a bank ...
-Rights Of The Holder Of A Cheque Against The Drawee Bank
Question 197. - In your reply to Question 196, 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 state the pri...
-Neglect To Present Note At Maturity Does Not Discharge Maker
Question 198. - (a) A customer of bank X takes a note from B. made payable at bank X, but does not leave it for collection. On due date promissor calls at bank to pay note and is told it is not there....
-Note Crossed "Given For A Patent Right" And Payable At The Office Of Maker's Bankers
Question 199. - Is a bank justified in charging to a customer's account a note of that customer which is crossed given for a patent right, and is made payable at such bank; or would the bank incur l...
-Cheque Or Acceptance Signed For A Firm By An Attorney, Presented After The Attorney's Death
Question 200. - 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 firm and signing as such, after having received a...
-Demand Bill Presented For Payment Three Days After Acceptance
Question 201. - (1) Is a bank justified in paying an acceptance drawn on demand and accepted payable at the bank and dated a certain day - if same is presented two or three days after the date of it...
-Acceptance Presented For Payment At Bank After Maturity
Question 202. - 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 been made...
-Draft Not Presented By Collecting Agents On Date Of Maturity
Question 208. - Brown & Co., of Montreal, make a draft on Jones, of Hamilton, through the A Bank. The latter send it to their agents, the B Bank in Hamilton, for collection, and it is accepted in ...
-Cheque: - Delay In Presentment For Payment. Recourse Against The Drawer
Question 204. - 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 which, he, A, will take it up. I...
-Draft Lost By Person With Whom It Was Left For Acceptance - Position Of Presenting Bank
Question 205. - Bank A received a sight draft from bank B drawn on C who are customers of bank A. Bank A presents the draft and after seventeen days outstanding C claims draft is lost. Can bank B reco...
-Demand Note With An Endorser, Held As Collateral Security - Presentation For Payment
Question 206. - Under section 181 of Bills of Exchange Act it is provided that where a note payable on demand has been endorsed, and with the assent of the endorser delivered as a collateral or contin...
-Demand Note, Bearing Endorsement. Given As Collateral Security - Prescription
Question 207. - A demand note is endorsed and given as collateral security. Is there a prescription of time on that note, the note not bearing interest on its face? Answer. - Section 181 of the Bil...
-Death Of A Customer - What Constitutes Notice
Question 208. - If mention of the death of a customer appears in the daily papers, would this in itself constitute notice under sec. 167 of the Bills of Exchange Act? If the notice had not been observ...
-Notice Of Customer's Death
Question 209. - Re sec. 167, Bills of Exchange Act: (1) What constitutes notice of a customer's death? (2) Would a bank be justified in refusing payment on the strength of one of its officers having h...
-Death Of Customer - Cheque Paid After Death But Before Notice
Question 210. - Can a bank be held responsible for paying a cheque after maker's death, but before such news is known to its officers? Answer. - No. ...
-Death Of Customer - Payment Of Cheque Certified Before Notice Of Death
Question 211.-A Bank presents a cheque drawn on B Bank which B Bank initials O.K. by the ledger keeper. A Bank deposits the cheque in the usual way through the clearing house but B Bank re...
-Insufficient Funds for a Cheque - Can Amount to Credit of Drawer's Account be Applied in Partial Payment?
Question 218. - A has a cheque for $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 without any not...
-Lost Drafts - Security Required Before Issue Of Duplicate
Question 215. A purchases from a bank at Toronto a draft on its Montreal office, which is lost in the mails. A asks the bank for a duplicate draft, offering to give them a bond of indemnity, signed by...
-Delay In Mail - Cheque Returned Dishonoured Responsibility
Question 216. - A cheque on a suburban branch is sent through the clearing to the main office of the drawee bank and mailed to the branch the same night. Through a post office error the letter is sent...
-Endorsed Note Lost In The Mails And Not Presented For Payment On Date Of Maturity
Question 217. - A customer deposits with the bank a note for collection, on which there is a good endorser. The note is payable at a distant point, and when deposited for collection has still two mont...
-Payment Of Original Draft, Accounted Lost, After Duplicate Has Been Paid
Question 218. - A who resides in Montreal buys a sola draft from his bankers on their Toronto branch, payable to B or order, and the draft was lost. The bank gives A a duplicate, which was duly ...
-Certified Cheque Lost In Mails - Bank Entitled To Bond Of Indemnity Before Payment Of Duplicate
Question 219. - A municipal corporation issues a cheque payable to the order of Good Roads Commission, and the cheque is marked accepted by the bankers of the municipality. The cheque was lost in ...
-Lost Cheque. Right Drawer To Indemnity On Issue Of Duplicate
Question 220. - 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 bond of indemnity. Ts the lat...
-Cheque Lost In Mail - Rights Against Customer From Whom Received And Against Endorser
Question 221. - 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 in the mails, and drawer refuses to give duplicat...
-Cheque Sent For Collection And Lost In Mails - In Avoidable Delay In Presentation Does Not Dis-Charge Drawer
Question 2220. - 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 the suspensi...
-Rights Of Parties To A Lost Cheque, The Drawer Being Dead
Question 223. - 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 duplicate cheq...
-Cheque Cashed By A Branch Of A Bank Other Than The Branch On Which It Was Drawn - Sent For Collection And Lost In Mails
Question 224. - A cheque on a bank in Hamilton in favour of A. was cashed for him by a bank in Toronto. It was forwarded by mail in due course for presentment, but the letter has not reached its desti...
-Defacement Of Cheques After Payment Of Same Has Been Stopped
Question 226. - 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 writes, p...
-Cheque Issued By Treasurer Of A Municipality - Instructions To Stop Payment Given By A Councillor
Question 227. - An account is passed by a town council and a cheque issued in regular form. Before presentation, the bank received verbal instructions from one of the councillors to stop payment of th...
-Stop Payment Of A Draft Issued By A Branch Bank On Another Branch
Question 228. - Can a branch bank legally stop payment of its own draft on another branch? I do not see how it can if the draft is presented by an innocent holder for value and the endorsement purport...
-Stop Payment Of A Marked Cheque
Question 229. - (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 have his t...
-Stop Payment Of Lost Cheque Payable To Bearer
Question 230. - 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 167 of the Bills of Ex...
-Bank Draft - Right Of Issuing Bank To Stop Payment At The Request Of The Purchaser
Question. - (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 payee, but after doing so requests the bank to tele...
-Bank Draft - Purchaser Has No Ground For Action If Issuing Bank Refuses To Stop Payment
Question 232. - 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 on the ground ...
-Stop Payment Of Cheque Certified By Bank After Business Hours
Question 233. - A gives B a cheque after three o'clock. B goes to A's bank and has the cheque certified the same evening. Next morning when the bank opens for business A stops payment of the cheque bu...
-Telegraphic Request To Hold Funds For A Cheque
Question 234. - 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? What would b...
-Telegraphic Request To Hold Funds And Reply That Cheque Was "Good If Signature In Order" - Payment Afterwards Stopped By Drawer
Question, 285. - Bank A wires bank B as follows: We have cheque of John Smith on you for $2,000. Will you pay on presentation? To which bank B replies: Cheque of John Smith for $2,000 good if signa...
-Promise, By Telephone, To Hold Funds For A Cheque - Liability Of Drawee Bank If Customer Stops Payment
Question 236. - A city bank asks by telephone if there are sufficient funds to the credit of a certain account to pay a cheque for a named amount. On being advised that sufficient funds are available ...
-Promise, By Telephone, To Hold Funds For A Cheque - Prior Presentation Of Another Cheque
Question 287. - A country bank asks a city branch by telephone if there are sufficient funds to the credit of a certain account to pay a cheque for a named amount. The reply is that there are sufficie...
-Certified Cheque Payable To The Drawer's Order - Subsequent Garnishment Of Funds At Credit Of Account
Question 238. - 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 following day proceedings equivalent to garnishment are taken by...
-Garnishment Of Funds Represented By An Accepted Cheque - Duty Of Bank To Pay Holder In Due Course
Question 239. - A customer gives a cheque which is presented for acceptance by the payee, and is accepted. Before it is presented for payment, the drawer commences legal action against the payee and t...
-Writ of Garnishment Served on the Maker Of a Note by a Creditor of the Original Payee - Can the Maker safely Pay the Holder?
Question 240. - A is promissor on a note in favour of B, which is overdue and is held by a bank, having been duly endorsed by B. A creditor of B.'s serves a writ of garnishment on A for the amount due...
-Writs Of Garnishment - Their Effect Upon Subsequent Banking Transactions
Question 241. - Smith owes Jones, who cannot collect his debt. Jones hears that Brown is going to give Smith a cheque, and has a writ of garnishment issued and left at the chartered bank on which the ...
-Sterling Bill Drawn On A Canadian Bank - Rate Of Exchange
Question 242. - 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? Answer. - If the cheque cont...
-Rate Of Exchange On Sterling Acceptances
Question 243. - A customer has a sterling invoice of 10,000 which he must convert at the current rate for the day, and pay in Canadian funds in Montreal. Which sterling quotation should be given - ...
-Bills Payable In Sterling Drawn On Points In Canada
Question 244. - (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 163 of the Bills of Exchange Act? (2) ...
-Letters Of Credit - Current Rate Of Exchange
Question 245. - Where Bank A cashes a draft under a credit issued on Bank B, must Bank A accept whatever rate Bank B may claim to be the current rate at the point at which the credit is drawn? Answ...
-Sterling Cheque On Canadian Bank
Question 246. - 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 sight drafts on London ...
-Ninety-Day Bills - Rate Of Exchange
Question 247. - 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 bill should be about...
-Bills Drawn On Canada "Payable With Exchage."
Question 248. 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 New Glasgow. The latt...
-Cheque On A Canadian Bank Received From An American Bank Drawn "With Exchange."
Question 249. - If a cheque on a Canadian bank is received from an American bank drawn with exchange is the drawee bank authorized to add the prevailing premium to the cheque when remitting? If that...
-Interest Runs On Days Of Grace
Question 251. - In the case of a man borrowing $100 for twelve months at, say 6 per cent., if he pays the note on the last day of grace, can interest be legally collected on the three days of grace? ...
-Method Of Computing Interest On Discounted Notes
Question 253. A demand note for $1,000 is dated August 1st, 1917, and bears interest at the rate of 8 per cent, per aunum. Our practice in computing the interest, and to this our customer agrees, is t...
-Rate Of Interest On Time Accommodation Notes
Question 254. A heavy borrower claims he should pay us interest rate and not discount rate on time accommodation notes - i.e., he wants to add the month's interest to the face of the note and when...
-Cheque Dishonoured And Paid After Some Days' Delay - Holder's Right To Interest
Question 255. - 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 cheque is a bill of exchange payable on demand. The...
-Note Past Due - Right Of Holder To Interest If Not Mentioned In The Note
Question 256. - Can interest be legally collected on a promissory note after note becomes due, no mention of interest having been made on note, said note six months overdue? Answer. - Under section...
-New Stamp Tax - Bank Requirements
Question 257. - The stamp tax on bank notes, cheques or other documents, as set forth in 10-11 Geo. V. c. 71, s. 1, passed by the House of Commons at the end of June, 1920, in amendment to the Special...
-Promises To Pay
With regard to documents or writings containing a promise to pay or pledge of securities to secure payment of advances when no promissory note or bill of exchange is transferred or delivered to the ba...
-Debit Slips - Stamp Required On Transfer From Account Of One Customer To That Of Another
Question 258. - Is a two-cent war tax stamp required on a debit slip transferring funds at a customer's request? (a) From his savings account to his current account? (b) From his account to that...
-Debit Slips - War Stamp Is Not Required When There Is No Actual Transfer Of Funds
Question 259. - If a debit slip is charged to a customer's account and the amount of the debit is applied on the customer's indebtedness to the bank does the debit require a war tax stamp? Is it only ...
-Cheques To The Order Of The Minister Of Finance Mist Bear Stamp
Question 260. - Does a cheque made payable to the Minister of Finance or order, given in payment of War Loan bonds, require a war tax stamp under the Special War Revenue Act, 1915? Answer. - Such a...
-British And Foreign Post Office Orders Do Not Require To Be Stamped In Canada
Question 261. - Do British and U. S. Postal orders require war tax stamps affixed thereto when negotiated through a bank? Our postmaster says not. Answer. - Post Office Money Orders issued outside ...
-Canadian War Stamp Must Be Affixed To Drafts Issued In The United Kingdom, If Payable At Or Negotiated Through Canadian Bank
Question 262. - Is it necessary to affix a Canadian War Stamp to a money order or draft issued in the United Kingdom, which already bears a British bill stamp when presented for payment in Canada? ...
-Requisition For A Draft Does Not Require War Tax Stamp
Question 263. - Is war tax necessary on the attached form of an express company's order for a draft? This order is charged to the account of the express company and a draft is issued for the amount ...
-Duplicates Of Lost Cheques Or Drafts Subject To War Tax
Question 264. - Is the War Tax Stamp required on duplicates for cheques or drafts, when original of such cheques or drafts has been lost? Answer. - The Finance Department has ruled that duplicate...
-War Stamp Must Be Affixed To Savings Bank Withdrawal Receipts
Question 265. - In our savings department we use receipt forms instead of cheques. Is it legally necessary to stamp this form? Copy is as follows: Savings Bank Department. No............. Bank o...
-Deposit Slip Showing Part Payment By The Bank Of A Cheque Before It Was Actually Deposited Does Not Require Stamp
Question 266. - Does a deposit made out showing the amount of a cheque less cash which the customer wishes to draw, need a war stamp, as, Cheque.............................. ...
-Receipts For Life Insurance Premiums, Passing Through A Bank For Collection - War Stamp Tax Need Not Be Affixed
Question 267. - Do receipts for premiums sent us by life insurance companies require war tax? (Passed through our books the same as ordinary collections). Answer. - No. Such receipts are neither bi...
-United States Revenue Stamps
Question 268. - Has a bank in the United States any right to require its Canadian correspondent to affix a United States revenue stamp to a draft upon it? Answer. - We think the bank has a perfect ...
-Issuing Cheque Without War Stamp - Penalty
Question 269. - Bank A receives from its correspondent in another town a cheque drawn on bank B. When presented for payment bank B refused to pay as there was no war tax stamp affixed. Would not it ha...
-Presenting For Payment, Ok Paying, Cheque Without War Stamp - Penalty
Question 270. - A bank having received from one of its branches a cheque drawn on us, without war tax stamp attached, presented same to us for payment. It was refused, the answer No war stamp attache...
-Identification Of The Payee Of A Cheque
Question 271. - A cheque drawn to order is presented for payment by an individual unknown to the officials of the bank. He claims to be the payee. Is the bank entitled to delay paying the cheque while...
-Error In Identification - Responsibility
Question 276. - A cheque for $100 drawn by Jno. Smith, of Ottawa, payable to his own order, is presented by him at a bank for payment. Although not personally known at the bank, yet the bank knew that...
-Cheque Drawn "Payment In Full Of Account" - Right Of Drawee Bank To Refuse To Pay
Question 277. - Has a bank any legal right to refuse payment of a cheque - or is there any custom to warrant their doing so, there being funds for the same - on which is interlined Payment in full of...
-Cheque Bearing The Words "In Full Of Account" Position Of Payee
Question 278. - 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 the cheque? Answer. ...
-Cheque Drawn In Payment Of "Balance In Full To Date "And Endorsed "Received On Account Only" - Position Of Drawee Bank
Question 279. - A cheque is presented bearing on the face of it a notation to the effect that it is issued in payment of balance in full to date. On the back it is endorsed by the payees and above t...
-Certified Cheque With Words "Full Settlement Of All Claims" Ruled Out By The Endorser - Position Of Drawee Bank
Question 280. - B & Son, grocers, made an assignment. Later B issues a cheque in favour of C or order for $3. On the face of the cheque under the amount in the body of the cheque B writes: Full settl...
-Cheque With Words " Interest To 31st Inst." Scored Out - Position Of Drawee Bank
Question 281. - A brings in his cheque to us for $147 payable to B with the application of the money written in the body underneath the written amount Interest to 31st inst. on your loan on S 1/2 27-...
-Bank Draft Accompanied By Instructions To Withhold Payment Until Signature Of An Enclosed Receipt In Full - Duty Of Bank On Refusal Of Payee To Sign Receipt
Question 282. - A sends a bank draft payable to B, to B's bankers, together with a letter authorizing it to be paid only on signature by B of an enclosed receipt in full. B refuses to sign this receip...
-Accounts In Names Of "A B, Sheridff,"And "C D, Trust Account" - Right Of A Bank To Charge Thereto Personal Acceptances
Question 283. - If a draft is accepted by A B and C D individually, A B having an account styled A B, sheriff and C D a trust account, neither of them having an individual account, is it necessary f...
-Notes And Cheques Of A Customer Charged At Maturity To His Savings Bank Account Without Special Authority
Question 284. - Would a bank be upheld in law in charging up acceptances and notes as they mature to a customer's account in the savings department, without special authority. The following clause is ...
-Cheque Torn Across And Pasted Together
Question 285. - 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 bona fides because of t...
-Right Of Bank To Set-Off An Overdue Note Of A Deceased Debtor Against A Deposit Made By His Executors Subsbquently To His Death
Question 286. - A bank holds a promissory note of a deceased party. After the promissor's death his wife, having obtained letters of administration to his estate, causes through her agent to be deposi...
-Joint And Several Note Presented At The Bank Where It Is Payable, And Where One Of The Promissors Has An Accounyt In Funds
Question 287. - A joint and several promissory note made by three parties is presented at maturity at the bank where it is payable and where one of the parties has an account with sufficient funds at ...
-Joint And Several Promissory Note - Right Of A Ban K As Holder To Charge To Account Of One Of The Promissors
Question 288. - A bank holds the joint and several note of A, B & C payable on demand. Demand is made and the note dishonoured. Can the bank charge up this note to A's account, against A's wish, assum...
-Right Of Bank To Charge Overdue Note Against Deposit Subsequently Made
Question 289. - A owes the bank $300, which is overdue. He enlists and sells his farm through B, who deposits $1,000 to the credit of A. The bank immediately charged up the amount due on A's note, lea...
-The Payee of a Cheque Endorses it and Presents it for Payment. Can the Bank Apply the Funds upon an Overdue Note of the Payee which it Holds?
Question 290. - 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 payee claims t...
-Cheque Presented For Payment By Payee, Who Is A Debtor Of The Bank
Question 291. - 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? What if the payee ...
-Right Of A Bank To Set Off A Balance At Credit Of A Customer's Account Against A Matured Note On Which The Latter Is An Endorser Or Promissor
Question 292. - A bank's customer dies leaving a balance at credit of his account, which is believed to be his own money. Can the bank set off against this balance the amount of two notes on which he ...
-Appropriation Of Payments
Question 293. - M & Co. are in the habit of discounting with their bankers sight drafts against shipments of produce to the Tinted States. One of the drafts for $75, was returned dishonoured and charg...
-Cheque To The Order OF "Sam Jones" - May The Bank Pay to Anyone of that Name?
Question 294. - 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 is it the bank's duty to find out to which Sa...
-Banking Hours
Question 295. - 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 the hours at...
-Protest Of Inland Bills Necessary Only In The Province Of Quebec
Question 296. - Section 113 of the Bills of Exchange Act reads: It shall not, except in the Province of Quebec, be necessary to note or protest an inland bill in order to have recourse against the dr...
-Notice Of Dishonour
Question 297. - Referring to the Bills of Exchange Act, ion 98 (c) and (d), read as follows: By an agent either in his own name or in the name of any party entitled to give notice whether that party ...
-Notice Of Dishonour Must Be Given To Drawer
Question 298. - Is it necessary, if a draft be drawn by A on B to the order of bank C, that notice of dishonour be given to the drawer to render him liable? Answer. - Such a notice is necessary; se...
-Unpaid Bill Charged To Endorser's Account With Notice To Him, But Without Protest
Question 299. - 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 notifies the endorser by mail that he has d...
-When is a Bill Protestable?
Question 300. - 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 on the day ...
-Bill Received For Collection With "No Protest" Slip Attached - No Instructions In Accompanying Letter
Question 301. - A bill received for collection has a no protest slip attached, but in the letter enclosing it no reference is made thereto. Should not the letter govern? Answer. - We think not. ...
-Draft With Drawee's Address Wrongly Given - Pro-Test
Question 302. - A drain upon B in Rossland by mistake; he should have drawn 00 him in Nelson, where he has a place of business and a residence. The item is sent forward to Rossland, subject to protest...
-Presentment For Payment Before Protest - Reasonable Time
Question 303. - 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 presentati...
-Time Within Which Presentation For Payment Must Be Made
(Opinion of Counsel.) The question as to the time during the day of maturity when a bill must be presented for payment does not appear to have come up for decision in Ontario. The cases in Engla...
-Time Within Which Notice Of Dishonour May Be Sent
Question 805. - Referring to the section 103 (2) Bills of Exchange Act, do notices of dishonour mailed at any time on the next day following due date, meet the requirements of the law as fully as if m...
-"Noting" Dishonoured Bills
Question 306. - (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 accordance with for...
-Acceptance Held After Maturity By Request Of Prior Parties - Protest
Question 307. - An acceptance is by arrangement with the prior parties held for ten days after its maturity without being protested, but at the expiration of that time the drawee is still unable to pa...
-Bill Held After Maturity By Collecting Bank And Not Protested On Instructions Of Owner
Question 308. - 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 Winnipeg bank wires the Kin...
-Joint And Sevral Note - Protest - Maker's Right As Surety
Question 309. - A, for B's accommodation, joins with the latter as joint and several maker of a note in favour of (J. At the time of its delivery to C the latter has notice of the relation to which A ...
-Promissory Note With Joint And Several Makers, One Of The Makers Being Really A Surety For The Others - Protest
Question 310. - Is it necessary to protest a note drawn in favour of a bank by joint and several promissors, one of whom is really a surety for the other; is he not in effect an endorser? Answer. -...
-Notice Of Dishonour - Makers Of A Note Who Are Also Endorsers
Question 311. - Is it necessary to send notices of dis-honour to the endorsers of a note on which they are also the promissors? Answer. - They would be held as makers of the note without notice of ...
-Note With Two Endorsers, The Last Of Whom Waives Protest - Must Be Protested To Hold Prior Endorser
Question 312. - A note is discounted by a bank for a customer who endorses it, waiving protest, notice and demand of payment. There is a prior endorser on the note. The bank did not protest the note a...
-Demand Draft With Bill Of Lading "For Payment" - Goods Delayed In Transit - Notice Of Dishonour
Question 313. - A demand draft with bill of lading attached, to be held for payment, is received for collection. The goods, owing to delay in transit, will not arrive for three weeks, and the drawee r...
-Cheque Returned Marked "N.S.F." - Protest
Question 314. - Bank A receives a protestable cheque drawn on bank B from bank C for collection. If the same is presented to bank B and refused on the ground of N.S.F. or Present again, is it nece...
-Hour At Which Note May Be Protested
Question 815. - Is it legal to protest a note at one o'clock on Saturday? Are we not bound to wait till three as on other days? Answer. - A protest cannot be made on any day till three o'clock. Thi...
-Dishonoured Cheque - Tender Of Payment By Drawer Before Protest
Question 316. - Bank A sends to bank B through the Clearing a cheque which is returned on time with reason N.S.F. Bank A presents the same cheque at three o'clock, when it is again refused for...
-"No Protest" Instructions In Letter Enclosing A Note, But Not Attached To Note Itself
Question 317. - A letter is sent containing a promissory note for collection, with instructions not to protest, but such instructions are not attached to the note. Should the latter be protested or no...
-Cheque, With Endorser, Returned Marked "N.S.F." Protest
Question 318. - Bank A clears to bank B a cheque on August 28th, 1918. Bank B returns cheque for the reason N.S.F. Bank A's endorsement stamp on this cheque is dated August 27th, 1918. Can this cheq...
-Form Of Notice Of Dishonour
Question 319. - Is a notice of dishonour mailed by a bank to an endorser of an inland bill (Quebec excepted) on due date, properly attested by two officers and a record of despatch kept, sufficient wi...
-Notice Of Dishonour Sent To Endorsee By Letter
Question 320. - Would notifying an endorser by registered letter that a note had not been met by his promissor and that he was looked to for payment, hold him the same as if the note had been duly pro...
-Cheque Made Payable At One Bank Cashed At Another Bank By Payee, Who Endorsed It - Payment Stopped By The Drawer - Notice Of Dishonour
Question 321. - A teller cashed a cheque in an Ontario town drawn on a bank in Toronto. The cheque was sent for collection, but was returned without being protested, marked Payment stopped. The paye...
-Cheque Presented Three Times And Returned Endorsed "N.S.F." - Notice Of First Dishonour
Question 322. - A cheque signed by A P to order of P B on bank A is presented to P. B's bank and negotiated. The cheque is sent through the clearing house without instructions and is returned by ban...
-The Maker of an Endorsed Note Assigns His Estate for the Benefit of Creditors - Should the Note be Protested without Waiting for Maturity?
Question 323. - The maker of a note (discounted for a customer-payee) becomes insolvent. The note is not yet due, and has another endorser who has lent his name as surety for the maker. Should the not...
-Bill Held For Collection - Assignment Of Drawee Before Maturity Of Bill - Protest
Question 324. - 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 of bank B to bank A on the following...
-Protest - Error In The Notice As To Place Of Presentment
Question 825. - A note payable at bank B was handed to the notary by Bank A for protest. It was duly presented, and notice of dishonour given in the ordinary from. In the Act of Protest attached to th...
-Cheque Presented For Payment, Plus Protest Fees Duty Of Drawee Bank
Question 326. - A cheque is presented at a bank for payment and is dishonoured for reason ( N. S. F., and protested. Later funds are provided sufficient to cover the cheque, and protest fees, and th...
-Cheque Drawn For "Capital And Interest" - Protested Without Instructions
Question 327. - A cheque drawn upon a bank for capital and interest in favour of another bank, which forwards it for collection to the drawee bank omitting the usual N. P. in the instructions, is ...
-Cheque Handed To Notary For Protest And Lost By Him - Responsibility Of Presenting Bank
Question 328. - What responsibility does a bank assume in handing a cheque or note to a notary for protest if he should destroy or lose it? Answer. - Since the notary is the bank's selected agent f...
-Notarial Charges
Question 329. - Can you inform me what the legal notarial charges are in connection with the protesting of notes in the various provinces? There seems to be a wide range of difference among them. A...
-Fee For "Noting."
Question 330. - Can a notary note a bill on due date and complete the protest next day, charge all the usual protest charges and an additional charge of fifty cents for noting as well? Answer. - ...
-Note Held As Collateral Allowed To Run Past Due Without Notice To Endorsee
Question 331. - Is a bank responsible for a note deposited with it as collateral if it .(having an endorser) is allowed to run past due without the endorser being notified of dishonour, or allowed to ...
-Note Endorsed By B With Waiver Of Protest Paid By B At Maturity, Marked "Paid" By Holder, And Afterwards Re-Circulated By B
Question 332. - A makes note in favour of B. B endorses same and waives protest, etc. At maturity B has to pay note and the bank places their paid stamp on the back of the note over B's endorsement....
-Presentation Within A Reasonable Time - Bill Sent For Collection In An Indirect Manner
Question 333. - 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 over to a ban...
-Agency - Note Sent To Private Bank Which Failed To Remit After Collection - Responsibility
Question 334. - A chartered bank sent for collection to a private bank in Y. (the only bank in the town) a note for $100 payable at the office of the private bank in Y, which note had been deposited w...
-Agency - Collections Sent To Private Bankers
Question 335. - 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 collection will o...
-Agency - Responsibility Of Banks For The Selection Of Collecting Agents
Question Ss6. - 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 remit by draft on the head office, but ...
-Agency - Responsibility Of Banks Foe The Selection Of Collecting Agents
Question 337. - Mr. X is a customer of bank A. He has deposited in bank A a cheque of $5,000 drawn on bank B at such-and-such a place. A's correspondent at this place is bank C. Bank C sent cheque to ...
-Liability Of Collecting Agent - Express Company
Question 888. - 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 remitted proceeds in err...
-Draft Accompanied By Instructions To Allow A Dis-Count Of 2 1/2 Per Cent. If Paid Before A Fixed Date
Question 889. - A firm makes a draft on a merchant in this city with instructions to allow a discount of 2 1/2 per cent, if paid before a certain date. Has the drawee the right to change the face of t...
-Bill Paid on the Day after Maturity, but Owing to Transportation Difficulties Remittance is Delayed Fifteen Days - Is Discounting Bank Entitled to Interest for this Period?
Question 340. - A bank discounts for its customer in Prince Edward Island a time bill drawn say on Halifax. This bill is paid by the acceptor the day after maturity. Due to the transportation difficul...
-Delay in Obtaining Probate of Will - Makers of Notes Due to the Deceased Offer Payment at Maturity - Can Interest be Collected from this Date to the Time when the Executors are in a Position to receive the Money?
Question 341 - We hold for safekeeping notes of a man now deceased. He appointed as his executors a trust company. There has been delay in taking out the administration papers. The makers of the notes...
-Note Payable With Interest - Failure Of Bank To Collect Interest
Question 342. - A teller in a bank takes from a customer some notes for collection and at his request initials the pass-book by way of receipt for the same. The notes are handed over to the collection...
-Acceptance Payable "With Exchange" - Refusal Of Acceptor To Pay Exchange
Question 343. - A draft for $100 and exchange, with a no protest slip attached to it, is sent to a bank in Halifax for collection and is accepted. At maturity the acceptor refuses to pay more than...
-Cheques Drawn Payable "With Exchange" With Commission" Or "With Bank Charges."
Question 344. - If a cheque is written with exchange with commission with bank charges, or some such expression, is the cashing bank entitled to add commission when forwarding for redemption and i...
-Alteration Of Amount Added To A Cheque Drawn "With Exchange."
Question 345. - Cheque signed by A drawn on bank B (outside point) payable to C with exchange. C deposits cheque with his bank D which adds exchange at 1/4 of 1%. When presented to bank B ...
-Chequb To "Order" Endorsed By The Payee "Without Recourse."
Question 846.-(1) A cheque payable to order is presented for payment by the payee, bearing above the endorsement the words Without recourse to me. Should the bank refuse payment? (2) Is there any...
-Cheque Payable To Order - Right Of Drawee Bank To Demand Endorsement
Question 847. - Section 22, clause (2) of the Bills of Exchange Act reads: Where a bill, either originally or by endorsement, is expressed to be payable to the order of a specified person, and not to...
-Cheque Payable To "Order" - Right Of Bank To Demand Payee's Endorsement
Question 348. - 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 refuses to put his name on the back. Can the ba...
-Cheque To Bearer Drawn On An Outside Point - Bank's Right To Refuse Negotiation Without The Customer's Endorsement
Question 849. - May a bank refuse to negotiate a cheque drawn on some other point and payable to bearer, unless endorsed by the customer? Answer. - A bank may refuse to cash a cheque under any cond...
-Cheque Payable To Bearer Cannot, By Endorsement, Be Made Payable To Order Only
Question 350. - 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 can any holder or endor...
-Cheque Endorsed By The Maker, But Not By The Payee, Does Not Become Payable To Bearer
Question 351. - If a cheque of which B. Black is the maker, is made payable to A. Brown, and is endorsed by the maker, does the cheque become a bearer cheque? Answer. - No, unless the drawer specif...
-Cheque With Words "Or Order" Struck Out, Is Not A Bearer Cheque
Question 352. - (a) I shall be glad to learn whether the mere striking out the words or order converts a cheque into bearer? (b) Also whether an order cheque altered by drawer to read or bea...
-Cheque Payable To "Cash Or Order" - Endorsement
Question 353. - Does a cheque payable to cash or order, if presented by the drawer, require his endorsement? Is the situation altered if presented by a third party? Answer - A cheque so drawn is ...
-Cheque Payable To "Self Or Order" - Endorsement
Question 354. - Does a cheque made payable to self or order or to the order or self, require to be endorsed by the maker of the cheque? Answer. - According to section 22, sub-section 2, Bills o...
-Cheque Endorsed Generally By Payee - Refusal Of Party Presenting To Endorse
Question 355. - A presents at the drawee bank a cheque payable to the order of B and endorsed generally by the latter, which he himself declines to endorse. Can the Bank-refuse payment until he does? ...
-Limited Company - Authority Of President To Endorse Cheques
Question 856. - Cheques, etc., of a limited liability company need to be signed by the president and secretary-treasurer. A cheque in payment of goods is endorsed by the company to another party, the ...
-Cheque To Order, Deposited Unendorsed
Question 357. - (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 the credit of A...
-Cheque Payable To An Insolvent, Deceased - Endorsement
Question 358. - 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 his executor...
-Endorsement Without Recourse
Question 859. - A of Halifax draws on B of St. John in favour of Bank R for $100, payable 30 days after date. Bank R discounts the bill for A and after placing on it the following stamped en...
-Crossed Cheques
Question 360. - 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 to go to the...
-Savings Bank Cheque - Returned Through Clearing House Marked "Pass Book Must Be Presented."
Question 361. - We sent a cheque through the clearing house on another bank in town. The cheque is returned marked No account. Savings account pass book must be presented. Savings account not subject...
-Savings Bank Cheque - Presentation Through Clearing House - Payment Refused And Cheque Protested On The Ground That It Was Not Accompanied By Pass Book
Question 868. - Can a bank legally refuse payment of a cheque drawn on savings bank, giving a reason Balance of account. Pass book must accompany cheque. Cheque was presented, refused for above reas...
-Sayings Bank - Presentation Of Cheque For An Amount Which Includes Interest Accrued But Not Yet Due - Right Of Bank To Refuse Payment
Question 364. - A savings depositor issues a cheque against his account for an amount greater than the balance actually at the credit of the account, though the balance together with the accruing inte...
-Alteration Of Cheque From "Order" To "Bearer," After Issue - Payment By Bank To Wrong Person - Rigiit Of Drawer To Claim Reimbursement
Question 365. - A bank cashed a cheque for the wrong person with order ruled out and bearer written in. The drawer of the cheque claims reimbursement for the amount on the ground that the change d...
-Payment Of A Countermanded Cheque - Responsibility Of Officebs
Question 366. - 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, and without requiring the holde...
-Cheque Certified By Drawee Bank Through Oversight Certification Cancelled
Question 367. - The bank on which a cheque, payment of which has been stopped, is drawn, receives it by mail from an outside point. Through oversight the cheque is marked and stamped paid. The error i...
-Payment In Error - Certified Cheque To Which An Amount Has Subsequently Been Added For Exchange
Question 368. - Bank A presents to bank B for acceptance a draft for $15 drawn with exchange the exchange, however, not having been added to the amount of the draft. Bank B certified the item as $...
-Payment in Error of Face Amount of Draft Bearing Partial Acceptance - Should Overpayment be Refunded?
Question 369. - A draft for collection was accepted for less than face, but charged to drawee's account as for full face in error. Bank from whom received refuse to refund amount overpaid. Must they r...
-Cheque Unmarked, Received On Deposit By The Bank On Which It Is Drawn - Right To Recover On Finding That There Are Not Funds
Question 870. A bank receives on deposit from another bank a cheque drawn upon it by a customer and enters the deposit at the credit of the other bank in the latter's pass-book. After entering the cre...
-Draft With The Amount In Figures Different From That In Body - Responsibility For Overpayment
Question 371. - The amount of a draft is expressed in words in the body as $150, the figures in the margin being $250, and is collected by a bank from the drawee at the latter amount. Some time afterw...
-Cheque For Which There Were Not Sufficient Funds Cashed By Teller In Error - No Recourse Against Payee
Question 372. - A cheque for which there were not sufficient funds was cashed by our teller in error. When mistake was discovered later on in the day, cheque was protested for non-payment. Have we rec...
-Cheque For Which There Were Not Sufficient Fumds Presented By Customer Of Bank And Paid By Teller - Only Recourse Of Bank Is Against Drawer
Question 373. - A, an old customer of the bank (who keeps a fairly good account), presents B's unaccepted cheque to the teller for encashment The teller cashed B's cheque, handing over the cash to A. ...
-Defacing A Dishonoured Cheque - Signatures Cancelled In Error - Refusal Of Collecting Bank To Take It Back When Tendered Through Clearing House
Question 374. A cheque for $9 is paid through the clearing, but drawee bank dishonours same without protest, on the ground that maker has no account, but unintentionally stamps Paid and cancels sign...
-Defacing A Dishonoured Cheque
Question 375. - 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 the folio and...
-Payment To Party With Defective Title - Liability Of Prior Endorsers To Drawee Of Cheque
Question 376. - With reference to the right of a bank that has paid a cheque to a party with a defective title, to recover the amount from him, are not the prior endorsers on the cheque under the same...
-Cheque In Favour Of John Jones Paid To Another Party Of That Name
Question 377. - (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 John Jones, pays cheque....
-Cheque Stolen From Endorser And Cashed By Thief Recourse Of Paying Bank
Question 378. - John Smith draws a cheque in favour of Thomas Jones, who endorses it, places it in his pocket, and afterwards loses it by theft. The cheque is cashed by a bank (which is acquainted wit...
-Lost Cheque Negotiated By Finder - Drawer Stops Payment - Duty Of Bank On Presentation Of Cheque For Payment
Question 379. - A makes a cheque payable to the order of B, who, in turn, endorses it in blank and turns it over to C. The cheque is lost, and found by an irresponsible party who cashes it at a; local...
-Lost Bearer Cheque, Cashed By Finder - Owner Has No Recourse Against Paying Bank
Question 380. - A loses a cheque on the street payable to cash or bearer. An unknown party picks it up and cashes it. Has A any recourse against the bank? In other words, is a cheque payable to bearer...
-First Of Exchange Alleged To Be Lost In Transit -Payment Of Second Of Exchange To Purchaser Of Draft - Liability Of Bank If First Of Exchange Should Subsequently Be Presented For Payment By Holder For Value
Question 381. - A demand draft in duplicate was drawn on the London office of the drawing bank. The first of exchange was alleged to be lost in transit. The purchaser, not being the payee, presented t...
-Savings Bank Account - Responsibility Of Bank For Payment To Holder Of Lost Withdrawal Receipt
Question 382. - A savings bank depositor signs a receipt in the usual form, but loses it in the street. The finder presents it at the bank where the account is kept and gets the money. Have they a rig...
-Cheque Payable To J. C. Received And Cashed By Another J. C. - Responsibility Of Paying Bank
Question 383. - J. B. sends his cheque by post, payable to J. C. at Indian Head, where J. C. lives. Another J. C. receives the letter from the post office and cashes the cheque at his bank. Upon whom ...
-Forged Endorsements - Claims Arising Therefrom
Question 384. - The drawee of a bill of exchange accepts and pays it. It is subsequently found that the signatures of the drawer and payee are forged. Can the drawer recover the money from the party w...
-Raised Cheque - Notice To Collecting Bank
Question 385. - Bank A discovered, after a week had elapsed, that cheque payable to order received in clearing from bank B had been raised from $15 to $50. Cheque used was ordinary bond paper, a...
-Cheque Payable To "Pte. J. Brady, No. 536237," Cashed By Another Pte. J. Brady - Liability Of Bank
Question 386. - Two cheques for $70 each are issued by the Militia and Defence Department to the order of Pte J. Brady, No. 536237. They are retained later by the Department with the words forged e...
-Payment Of Forged Cheque To Innocent Holder Responsibility
Question 387. - 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 house (unmarked...
-Cheque Bearing Forged Signature - Cannot Be Charged To Customer's Account
Question 388. - If a bank pays a cheque drawn on itself and some days afterwards discovers that the signature of the drawer is a forgery, and the forged signature is almost similar to the genuine sign...
-Cheque Received On Deposit, With A Prior Endorsement Forged - Liability Of Customer After Notice
Question 389. - 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 after T. A. We send it to another bank, wh...
-Position Of Acceptor Who Has Paid A Bill Bearing Forged Endorsements
Question 390. - Referring to article on forged and raised endorsements in the April, 1903, number of the Journal, Cocks v. Masterman what is the position of the acceptor who has paid a bill beari...
-Raised Cheque - Responsibility Of Paying Bank Unless Cheque Has Been Carelessly Prepared By The Drawer
Question 391. - In case a bank pays a raised cheque, who is liable for the loss? (a) Can the bank charge amount paid to their customers' account, or (b) can they recover from the bank to which they pa...
-Marked Cheque Raised Subsequent To The Marking
Question 392. - 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 circumstances? Answer. - Bef...
-Canadian Draft On London Made Payable To Resident Of Foreign Country, And Cashed By A Foreign Bank For A Person Who Forges The Payee's Endorsement - Rights And Obligations Of Parties
Question 393. - A Canadian bank sells a sterling draft on London to a customer. It is made payable to a person in a foreign country. The draft is cashed by a foreign bank for a person who forges the p...
-Forged Endorsement
Question 394. - A presents a camp order at a certain bank to be cashed. The bank does not know A, but is familiar with the firm the order is issued on. The bank refuses payment, telling A to pre...
-Forged And Irregular Endorsements
Question 395. - Bank A deposits a cheque through the clearing house against Bank B. The cheque bears several endorsements, one being by power of attorney. There are funds to meet the cheque. A mon...
-Notice Of Forged Signature
Question 396. - Sub-section 1 (b) of section 49 of the Bills of Exchange Act says in effect that the drawer shall have no right of action against drawee for the recovery back of the amount so paid, or...
-Legal Holidays - Rights Of A Bank To Accept Or Pay Its Customer's Cheques On A Holiday
Question 397. - (1) Has a bank any right to refuse or accept a cheque on a legal holiday? (2) In Montreal English banks do business on Province of Quebec holidays: (a) If a bank were to refuse a...
-Withdrawal Of Credit Balance On Legal Holiday - Position Of Holder Of Outstanding Cheque
Question 398. - A gives his cheque to B in payment of an indebtedness, on the evening preceding a legal bank holiday. The bank remains open for the transaction of business on the holiday, when A withd...
-Cheque Marked Before Hours
Question 399. - 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 gives the ban...
-Refusal Of Bank To Pay Customer's Cheque Fob Which There Abe Funds
Question 400. - 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 had accidentally become aw...
-Stop Payment Of Cheque - Right Of Holder In Due Course To Recover From Drawer
Question 401. - A gave B a cheque for $25 in part payment of purchase money for B's business. The cheque was drawn on bank C, and was cashed by B at bank D. A stopped payment of the cheque, consequent...
-Promissory Note. Not Always Discharged By The Surety's Payment Thereof
Question 402. - A joint and several promissory note is made by three promissors, one signing as surety, the other two being the debtors. The surety has to pay the note; can he not recover from either ...
-Note With Two Makers, One Being In Fact A Surety - Right Of Surety To Compel Suit
Question 403. - C. and company hold a joint note of A and B, which is dishonoured. Can B, who is in fact a surety for A, compel the holders to sue A for the amount? Answer. - Yes, if the holder wil...
-Past-Due Note With Two Promissors Held As Collateral To A Renewal Note Taken From One Of Them
Question 404 - A note was discounted by a bank on which were two joint promissors, one of the two, to the knowledge of the bank, having added his name as surety for the other. At maturity the bank ren...
-Renewal Of A Joint And Several Note, The Old Note Being Retained
Question 405. - A bank accepts a renewal of a joint and several note with one of the original names dropped, but retaining the original note. Further renewals of the same kind are afterwards taken. In...
-Note Bearing Accommodation Endorsements Renewed By A Bank With One Endorsement Omitted
Question 406. - A bank discounted for the promissor a note with three endorsers (accommodation). When this note becomes due the bank receive through the mails a note stated to be a renewal note, but f...
-Authority Of An Executor To Give A Renewal Of A Note Made By The Testator
Question 407. - The executor of an estate endorses, Estate of C. B. by A. D. executor, on renewal of a note current during the lifetime of the testator. Has he as executor a right to bind the estate...
-Note With Joint And Several Promissors, One Being In Reality A Surety, Held Overdue
Question 408. - B and C are joint and several promissors on a note held by A, it being known that C is in fact a surety, B being the real debtor. The note matures, and A accepts a year's interest in a...
-Joint And Several Note Charged After Maturity To The Account Of One Of The Makers - Rates Of Interest Chargeable For The Time Overdue
Question 409. - A and B are liable jointly and severally on a note which has been discounted by the bank, B being, in effect, a surety only. The note is unpaid, and some time after maturity the bank c...
-Set-Off - Right Of A Banker To Charge Balance Due On A Note To A Current Account
Question 410. - A customer, keeping a current account has a demand note to the bank upon which two payments have been made. When he is in funds, have we authority to charge balance of note to a curren...
-Missing Endorsement Necessary To Complete Title
Question 412. - The A Bank presents to the C Bank through the clearing house a cheque payable to Smith & Jones, or order, and bearing the endorsement of John Smith and the presenting bank, which i...
-Note Marked "Paid" by a Bank but not Endorsed by Payee - Does Possession of the Note Discharge the promissor?
Question 413. - A customer leaves a note with the bank payable to his order for collection, but does not endorse it. Does the promissor receive a proper receipt and discharge of the debt when he has p...
-Note Paid Before Maturity - Rebate Of Interest
Question 415. - A discounts at the date of making a six months' note signed by B, payable without interest. B pays the note at the expiration of one month. Who is entitled to the rebate of interest, A...
-Statute Of Limitations
Question 416. - A note was due February 10th, 1897. Will the Statute of Limitations protect you if action is taken February 11th, 1903, or must it be entered in court on or before February 10th, 1903?...
-Paid Cheques
Question 417. - 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 paid cheques, on giving the...
-Bond Of Indemnity - Amount
Question 4l8. - Why is it that in taking a bond of indemnity twice the amount of the lost cheque or draft is asked? Is it to cover possible law costs? Answer. - There is no set rule that twice the ...
-Sterling Draft Of London, Enfaced Payable At A Bank In San Francisco
Question 419. - If a bill is drawn in sterling from Dune-din, N.Z., on London, England, and enfaced payable at the Bank of in San Francisco, does the San Francisco bank then become the drawee of the b...
-Clearing House - Presentation Of Cheque In Person By Manager Of Branch Bank To Save Regular Exchange
Question 420. - (a) Is a branch of a bank justified in refusing to pay cheques drawn upon it and presented in person by the manager of another bank in a neighbouring town? (b) If not, could the cle...
-Clearing House Rules - Delay In Returning Cheque
Question 421. - Bank A clears a cheque through the clearing house to bank B. Bank B neglects to return it within the time stated by the local clearing house rules. Bank A refuses to give bank B a clea...
-Clearing House Rules - Returned Items
Question 422. - 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 to twelve ...
-Returned Itemss - Local Arrangement Banks
Question 428. - Bank A cleared to bank B a cheque which is returned by bank B at 1 o'clock: reason, account closed. In this town there are six banks but do clearing house. There is a local arrangement...
-Advice Of Draft - Responsibility For Delay
Question 424 - The B of H makes a draft on the B of T with advice, pay to the order of John Jones the sum of $.... and charge to our account. When the draft is presented the bank say they have not r...
-Notice To Limited Company - "Ltd." Omitted From Address
Question 425. - In sending a notice through the post to a limited company, would the omission of Ltd from the address on the envelope affect the legality of the notice? Answer. - A notice addre...
-Request For Payment Of A Note Sent To The Maker In An Unsealed Envelope
Question 426. - A bank notifies the promissor on a note held by it, requesting payment. The envelope containing the notice was not sealed. Can the party claim damages from the bank for the open letter...
-Deposit Receipts - Negotiability
Question 427. - Are deposit receipts transferable by endorsement? Answer. - The usual form of deposit receipt is, we think, a receipt for money, and an undertaking to account for it, and not an u...
-Negotiability Of Deposit Receipts
Question 428. - Referring to my enquiry as to the negotiability of deposit receipts (Question 427), subjoined is a copy of the wording of the receipt which I had in mind: Received from J. Smith on ...
-Deposit Receipts "Not Transferable."
Question 429. - 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 such receipts? Answer. ...
-Lost Deposit Receipts
Question 430. - In the case of a lost deposit receipt, should the depositor be required to furnish a bond before paying the amount? Answer. - A deposit receipt is not transferable; the banks do not...
-Endorsement On Deposit Receipts
Question 431. - Do you, or do you not, think that the simple endorsement by a bank of any deposit receipts passing through its hands guarantees all previous endorsements? I think it does, but the poin...
-Letters Of Credit - Transferability
Question 432. - Is the right to draw under the ordinary letter of credit, issued by a Canadian bank, transferable by an endorsement on the credit to the following effect: For value received I hereby ...
-Letter Of Credit - Neglect To Endorse Payment
Question 433. - Bank A issues a general letter of credit for $5,000, which is presented by holder at bank B, showing endorsements of $1,000. Bank B pays $3,000 against it. Later it is presented at ban...
-Debentures Held By A Bank As Collateral - Neglect Of Bank To Present Coupons Promptly
Question 434. - A bond with coupons attached is held by a bank as collateral security. They neglect to collect the coupons as they mature, and ultimately when the bond matures it is found to be uncoll...
-Instructions By Wire "To Notify And Pay " - Neglect To Notify - Liability
Question 435. - A New York bank instructs a Halifax bank by wire as follows: Notify and pay A, $1,000. Through oversight A was not notified, and, according to his statement, lost a valuable contract...
-Telegraphic Transfers
Question 436. - A bank at E F's request sends this telegram to a correspondent: Notify and pay to AB ten thousand dollars to be applied on account of C and D bonds. The money is paid by the correspo...
-Orders Drawn By Firm Of Lumbermen On Themselves. Payable On Demand
Question 437. - Do orders drawn by a firm of lumbermen, or their agent at one of their depots, on themselves at their head office or on another depot, and payable to bearer on demand, come under sec. ...
-Circulation Redemption Fund - Notes Issued In Excess Of Paid-Up Capital
Question 438. - 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 issued by an unauthorized officer? An...
-Redemption Of Circulation
Question 439. - A customer of a chartered bank in Cobo-conk 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 cheque h...
-The Redemption Of Canadian Bank Notes
Question 440, - 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 70 of the Bank Act, is it not intended tha...
-Dominion Notes - Convertibility
Question 441. - 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 demand gold or legal tende...
-Bank Notes And Legal Tendebs
Question 442. - 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 accept bank notes in pa...
-Legal Tender Notes - Payment Under Sec. 72 Of The Bank Act
Question 443. - Would you construe sec. 72 of the Bank Act to mean that a bank may pay sums up to $100 in ones, twos or fives only to a party who desires such a payment? Can it compel one who demands ...
-Notes Of A Bank Circulated In A District Where It Is Not Represented
Question 444. - 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 out by it, and as a result the oth...
-Bank Notes - Fraudulent Issue Of, To A Friendly Depositor, By A Bank On The Eve Of Failure
Question 445. - Would it not be possible for the officers of a bank on the eve of failure, without breaking the law, to pay a friendly depositor the amount of his balance in notes of the bank on the u...
-Redemption Op Canadian Bank Notes Presented At Foreign Agencies
Question 446. - Is the custom of agencies of Canadian banks in the United States of discounting the notes of their own banks, in contravention of section 71 of the Bank Act? Answer. - We do not thi...
-Bank Notes - Their Redemption By Bank When Mutilated
Question 447. - 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, without having any port...
-Redemption Of Partially Destroyed Notes
Question 448. - 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? Answer. - We do not ...
-Old Issues Of Canadian Bank Notes
Question 449. - 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 notes referred to were is...
-Clearing House Systems
Question 450. - 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. Daily settlements are...
-Clearing House Settlements
Question 451. - Bank A goes to the Clearing House and remits to bank B a total of $200,000. Bank B in turn remits to Bank A a total of $150,000. How is the settlement of the $50,000 difference effecte...
-Deposits Made By Banks - Banking Etiquette
Question 454. - 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 their deposit of the same day. The item is for $4,500. Ban...
-Bank Deposits And Settlements
Question 455. - We are in the habit of making our deposits in local banks the first thing in the morning after the bank is opened. After our deposit is made we receive a cheque for a large amount, $5,...
-"Cut" Collection Rates Between Banks
Question 456. - I recently received two letters from a branch of a certain Canadian bank offering to make collections in the town and vicinity (where it had recently opened), first at 1-10 of 1 per ce...
-Bank Charges - Provincial Government Cheques
Question 457. - Dominion Government cheques are by law payable at par at all chartered banks. Have the different Departments of Provincial Governments the same privilege? Answer. - No. Unless a spe...
-Draft Purchased From A Bank - Death Of Purchaser Before Delivery Of Draft To Him
Question 458. - A customer ordered and paid us the money for a draft on Hong Kong, which we obtained from our home office. Before delivery he died. What is our position in the matter? The draft is pay...
-Opening An Account - Person Trading Under Firm Name
Question 459. - A firm carrying on business as Jones & Smith sell out to Robertson, who carries on under the former title. He opens an account with a bank under the name Jones & Smith for A. Robertso...
-Individual Trading In Name Of Company - All His Property Liable For Business Debts
Question 460. - A starts business under the name of a company, and is registered as the sole proprietor. Is a bank in advancing the company money for its business afforded any additional security by t...
-Account Opened In The Name Of "John Smith In Trust For The People's Co-Operative Co., Ltd" - Authorization Of Company Necessary
Question 461. - At the request of the People's Co-operative Company, Limited, an account is opened in the name of John Smith, in trust for the People's Co-operative Co., Ltd., the account to be oper...
-Opening An Account " In Trust " - Enquiry As To Nature Of Trust Unnecessary And Inadvisable
Question 462. - A B goes into a bank and asks to open an account in his name in trust. Is it necessary, when opening such an account, for the bank to obtain from him particulars as to whom or for wh...
-Trust Account - Responsibility For Disposition Of Funds - Position Of Bank
Question 468. - A savings account is opened under the following name: Mary Jones in trust for Henry Jones (minor). (a) Is the bank responsible to Henry Jones for the disposal of the funds? (b...
-Trust Accounts
Question 464. - (1) Is there any objection to opening an account in the following form: Mary Brown, ad ministratrix, John Jones, attorney, the power of attorney from Mary Brown to John Jones being d...
-Account Of A Company Operated In The Name Of The Company's Agent. Liability Of The Company
Question 465. - An account is opened in the name of John Adams, the cheques on which bear above his signature the name of a mining company. He is known to be an employee of the company, acting in the ...
-Account In Name Of "Estate Of John Smith," The Latter Being Still Living
Question 466. - (1) Is it usual to open accounts in name of Estate of John Smith or Succession of Jean Smith while John Smith is living? (2) If so opened by another, should he not show written...
-Accounts In The Names Of Minors
Question 467. - (1) What is the Ontario law relating to money deposited by minors? (2) Which would you advise - the opening of a savings bank account in the name of a minor, or in the name of a par...
-Deposit In Trust Foe A Minor - Protection From Creditors Of Depositor
Question 468. - If a father made a deposit in his own name in trust for his son, would that protect the money from the father's creditors? Answer. - If the money were deposited to the credit of the...
-Married Woman - Bank Account In Her Spinster Name
Question 469. - What is the best way to transfer a bank balance standing in the name of a spinster to her married name? Is a declaration of transmission an actual necessity? Answer. - We think no d...
-Married Woman In Province Of Quebec - Right To Operate A Bank Account
Question 470. - Can a married woman (in the Province of Quebec) operate a bank account without the authority of her husband, even when living in community with him, provided the balance does not at an...
-Account In Name Of "Job Smith, 'sheriff.' "
Question 471. - 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 appointed. Wo...
-Power Of Attorney To Operate Joint Account Signed By Only One Of The Depositors
Question 472. - Suppose we have the following account on our books: James E. Jones and Angela Jones or either of them. The following letter of authority in connection with the operation of the accou...
-Account In Name Of Two Executors
Question 473. - 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 with the deposit show ...
-Deposits Payable To Two Persons Or Either Of Them
Question 474. - The holder of a deposit receipt, on account of his age procures a renewal receipt in favour of himself and wife or either of them, so that either may draw the money. Subsequently the...
-Survivorship Provision in Joint Deposit receipt Forms
Question 475. - The case of Smith v. Gosnell, reported in the April (1919) number of the Journal, has given rise to a great deal of discussion. Mr. A. J. Brown, K.C., of Montreal, General Counsel to t...
-Joint Deposits - Garnishee Order Against One Of The Depositors - Duty Of Bank
Question 476. - Jones and his wife have a joint account (either to draw). A garnishee order is served on the bank against Jones. Could his wife, after the service of the garnishee order, withdraw all ...
-Trust Deposits - Withdrawal By One Of Two Trustees
Question 477. - Are we to understand from sub-section 2, section 96, Bank Act, that a deposit in the names of two parties can be withdrawn by one of them? If one of the depositors died would not his l...
-Power Of Attorney To Operate Trust Account
Question 478. - (1) A customer having only a trust account signs a full power of attorney in favour of B, but signs only his usual signature, without the words in trust. Can B operate the trust acco...
-Power Of Attorney To A Minor
Question 479. - May one under age be lawfully appointed the attorney of a merchant to conduct his bank account? Answer. - Yes; the fact that he is under age does not disqualify him. Note. - In t...
-Partial Payment On Cheque Made By Bank At Time Of Deposit - Deposit Slip Showing Deduction Must Be Signed By Customer
Question 480. - A customer brings in a cheque for $500 with the request that $450 be deposited and $50 paid in cash. A deposit slip is made out for $450, and under the heading local cheques the $500...
-Presentation Of Cheque For Which There Are Not Sufficient Funds - Offer Of Payee To Deposit To Credit Of Drawer The Amount Necessary To Cover Cheque - Responsibility Of Bank For Disclosing State Of Customer's Account
Question 481. - X, who may or may not be a customer of the bank, presents a cheque to his order for which there are not sufficient funds. He offers to make good the difference by depositing to the acc...
-Reasonable Time For Presentation - Cheque Dated January, 1899, Offered For Deposit In January, 1900
Question 482. - 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 take it on deposit only b...
-Copper Coins - Right Of Bank To Refuse Deposit, Or To Exchange For Silver
Question 483. - In a town where Canadian one cent pieces are not in circulation, could a banker refuse to accept them over the counter in a deposit, or could he refuse to give silver for them on deman...
-Interest On Daily Balance - Method Of Computing
Question 484. - A customer who is allowed 2 per cent, interest on his daily balances of $5,000 and over in current account is in the habit of making deposits the last thing in the day to make his bala...
-Bank Pass Book - Credit And Debit Entries
Question 485. - Why is it that the side of a bank cash book marked debit is used for credit entries, and the side marked credit for making debit entries? Answer. - The debit side of the cash bo...
-Agreement To Maintain Minimum Free Balance - Account Drawn Below Stipulated Amount
Question 486. - A current account bears interest at 3 per cent., $10,000 to be free. If the balance should run below that amount, say to $4,000, would you consider the difference between the actual ba...
-Time During Which A Bank Should Preserve Vouchers
Question 487. - By section 92 of the Bank Act it is provided that the liability of a bank to repay moneys deposited and interest, shall continue notwithstanding any statute of limitations or any enact...
-Refusal To Pay Money To Depositor Under Influence Of Liquor
Question 488. - Can a depositor under the influence of liquor legally draw his money out of his savings bank account? Has such a depositor any ground for action against the bank for refusing to giv...
-Witnessing Signature On Voucher For Withdrawal Of Deposit
Question 489. - Is it wise for the officials of a bank to witness the signature by mark of a customer on a voucher for the withdrawal of a deposit? Answer. - It is better to have an independent wit...
-Garnishment Of Money On Deposit
Question 490. - If a person has money on deposit in a bank can that money be garnisheed? Answer. - Yes. ...
-Married Women In Province Of Quebec - Bank Deposit - Garnishment For Debt Of Husband
Question 491. - A married woman in the Province of Quebec has a deposit in a bank. Can it be seized under judgment against her husband? There is no marriage contract Answer. - We are advised that it c...
-Deposit "A B For C D" - Garnishment For Private Debt Of A B
Question 492. - 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? Answer. - If the money, as a matter of fac...
-Garnishment For Private Debt Of Moneys Deposited In A Trust Account - Position Of Bank
Question 493. - A garnishee is served on a bank. The only funds held in the name of the party garnisheed are in a trust account. Is the bank bound to hold the account to satisfy the garnishing order, ...
-Pass-Books - Current Account And Savings Bank
Question 494. - (1) Is there any legal reason whereby a savings bank pass-book is different from an ordinary current account pass-book? (2) If not, why is there generally an impression that the pas...
-Pass-Books By Mail
Question 495. - Could we not get legislation under which pass-books, with or without vouchers, could be sent by book-post instead of letter-post? Answer. - Such a classification would be practicabl...
-Letters Probate - Duty Of Bank In Connection Therewith
Question 496. - Section 97 of the Bank Act protects a bank which pays over a deposit not exceeding $500 in pursuance of and in conformity to letters of administration or probate granted by certain cou...
-Deposit In Name Of Deceased Minor
Question 497. - 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. - Money at credit of a...
-Deposit in Name of "A B, Sheriff," or "A B, Assignee" - Death of Depositor - To whom are the Moneys in the Accounts Payable?
Question 498. - 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 are the moneys in the accounts payable? Answer. - Mo...
-Moneys Deposited In Trust - Right Of Beneficial Owner To Control
Question 499. - 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, all cheques have to be countersigne...
-Estate Of An Intestate - Powers And Responsibilities Of The Administrators
Question 500. - John Smith, a business man, with a bank account, dies intestate. A relative is appointed administrator by the court in the usual way. He opens an account with the bank, headed Estate ...
-Death Of Depositor - Moneys To Her Credit Claimed By Church Society - Duty Of Bank
Question 501. - A married woman who has some money at her credit believed to be held by her for a church society, dies, leaving a husband and minor children. The society claims the money. What should ...
-Deposit Account "In Trust" - Executor's Right To Withdraw Funds
Question 502. - 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 discharge to the bank by signing so and so i...
-Deposit In Name Of Deceased Executor
Question 508. - 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 withdraw the mo...
-Tbust Account - Death Of Depositor
Question 504. - (a) If a party dies leaving no will and with an account in his name in trust, the trust being specified, who has the right to dispose of this money and what is the bank's responsibilit...
-Death Of One Of Three Executors - Power Of Survivors To Draw On Joint Deposit
Question 605. - An account is opened in the name of three executors. One dies leaving no will, and his heirs make an arrangement between themselves regarding his estate. Should the bank allow the rema...
-Partnership Accounts - Death Of One Of The Members Of The Firm - Right Of Surviving Partner To Withdraw Moneys On Deposit
Question 506. - One partner in a firm having a current account with a bank dies. Is the surviving partner entitled to draw the balance? If he should continue to make deposits in the name of the firm, ...
-Succession Duties In Quebec - Bank Deposit
Question 507. - A person dies, having a deposit with a bank in the Province of Quebec exceeding three thousand dollars. Can the executor or administrator transfer the amount before succession duties a...
-Right Of A Bank To Pay At A Branch In Nova Scotia A Deposit Received At A Branch In New Brunswick, Under Letters Probate Issued To The Executor In Nova Scotia
Question 508. - A resident of New Brunswick, having a deposit in a bank in that province, moves temporarily to Nova Scotia (where he also owns personal property), and dies there. His executor obtains ...
-Letters Of Administration Taken Out In Two Countries - Conflicting Claims For Amount Due To The Estate - Duty Of Bank
Question 509. - A draft, in duplicate, is purchased from a bank in Canada, by John Smith, payable to himself and drawn upon its own branch in a United States city. Payee is murdered in United States t...
-Liabilities Of Partners - Guarantee Bonds
Question 510. - A gives a bank a guarantee securing advances made to C. A afterwards enters into co-partnership with C under the style of C & Co. How does this affect the guarantee? Is A held for all ...
-May a Canadian Bank Lend Money on the Security of Shares in an American Bank?
Question 611. - (1) Refering to sec. 76 (2) of the Bank Act, may a Canadian bank legally lend money on the security of shares in an American bank? (2) If not, and if such security were taken for an...
-Dower Interest In Encumbered Lands
Question 512. - What general rule should be adopted by a banker in estimating a customer's financial position, where the assets of such customer consist of encumbered real estate, taking into consider...
-Wife's Control Of Her Separate Estate
Question 513. - A bank holds a bond securing a standing overdraft up to a certain limit. Bondsman dies, and it is suggested that the customer give a demand note in favour of his wife as collateral sec...
-Deceased Depositor - Letters Of Administration - The Bank Act
Question 514. - With reference to section 97 (s.s. c.) of the Bank Act, where a deceased depositor has more than $500 at his credit, and an administrator produces properly issued letters of administra...
-Assignment Of Book Debts
Question 515. - 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 acquiring security of this kind...
-Assignment Of Future Book Debts
Question 516. - 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 existence and spec...
-Assignment Of Book Debts - Notice To Debtobs
Question 517. - 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 think the notification ...
-Security Lodged By Promissor Of A Note - Payment Of Note By An Endorser - Right Of Latter To Acquire Possession Of The Security And To Transfer It
Question 518. - The bank holds for a certain note security from the promissor, which at the time it is hypothecated is declared to be pledged for the payment of all his present and future liabilities ...
-Discounting Customer's Own Note And Taking On Hypothecation Of Trade Paper As Collateral Security
Question 519. - In making advances to a customer who usually borrows by way of discounting trade paper, in what way, if any, is the bank's position improved by discounting the customer's own note and ...
-Non-Negotiable Instrument Taken As Security And Subsequently Declared Invalid - Position Of Holding Bank
Question 520. - When a bank takes, as security for an advance, an assignment of moneys payable under an agreement for sale of land, and, owing to misinterpretation of facts by the vendor as to the qua...
-Security Held By A Private Banker For Notes Lodged As Collateral With A Chartered Bank - Right Of Bank To Demand Transfer
Question 521. - A private banker advanced a farmer money, taking notes which he pledged to a chartered bank. Later he took a deed of the farmer's land, giving a letter saying he would re-convey lan...
-Security Given By The Maker Of A Note To An Accommodation Endorser And Assigned By The Latter To A Bank Holding The Note - Validity Of Assignment
Question 522. - A bank has discounted for A a note endorsed by B. A assigns to B a mortgage to secure him for his endorsement, which mortgage B subsequently assigns to the bank as collateral security ...
-Proper Application Of Proceeds Of Collateral
Question 528. - A's note for $200 endorsed by B is discounted by a bank, and, upon dishonour, is paid by B the endorser. Before maturity of the note, A gives the bank a mortgage to secure this note, a...
-Fire Insurance Policies Held As Collateral Security
Question 524. - Can insurance on the store and goods of a trader, assigned as collateral security for money advanced for the purposes of carrying on his business and meeting his liabilities, be legall...
-Life Policies As Security
Question 525. - A bank holds an insurance policy for $5,000 upon the life of a customer (properly assigned to it and acknowledged by the company) as security for advances. The customer fails owing the...
-Collateral Security
Question 526. - Can a life insurance policy in a friendly society be transferred to a chartered bank as collateral for advances? Answer. - The answer to this question would depend upon the form in ...
-Fire Insurance Policies - Respective Rights Of Holders Of First And Second Mortgages In The Event Of Loss
Question 527. - A holds first mortgage for $2,600 on town property worth, say, $10,000, of which $6,000 is site value and $4,000 is the value of the buildings. There is $2,000 in insurance on the buil...
-Mortgage Security Taken By A Bank To Secure A Current Loan
Question 528. - Can a bank take a mortgage to secure a current loan? In event of a mortgage being taken to secure a current loan, must this then be considered as past due within the meaning of the ...
-Security Taken For Current Advances
Question 529. - Can banks legally take security under sec tion 80 of the Bank Act, to secure current liabilities (business or accommodation paper under discount, but not yet matured). Answer. - The...
-Mortgage Security Taken By A Bank To Secure Old As Well As New Advance
Question 531. - A bank demands security for an existing loan, which the debtor agrees to give if a further loan is made to him. This is agreed to, and he gives a mortgage to secure the whole amount. W...
-Advances On The Security Of Ships Or Vessels
Question 582. - Would section 80 of the Bank Act permit the taking of a mortgage on a vessel for a loan made simultaneously? Answer. - The section referred to authorizes a bank to take a mortgage ...
-Security On Standing Timber
Question 534. - In what form should security on standing timber and timber licenses be taken under section 84 of the Bank Act. Answer. - The procedure required by the Provincial statutes should be ...
-Warehouse Receipt Forms
Question 585. - Is the following form of warehouse receipt good from a bank's point of view? It differs materially from the usual bank form: Received in store from AB, 83 large cheese marked 'H' ...
-Warehouse Receipts
Question 536. - A, a resident of Ontario, sells to B a quantity of goods which B duly pays for, but asks A to keep for him until they are required. B subsequently wishes to borrow on the security of t...
-Warehouse Receipts Issued By A Limited Liability Company
Question 537. - Are warehouse receipts given by a limited liability company legal? If so, who would be responsible if the receipts contained misstatement! or were issued in fraud? Answer. - Such wa...
-Warehouse Receipt For Grain, Etc. Provincial Laws Limiting Right Of Pledgee To Hold
Question 538. - The Quebec Statutes provide that where a warehouse receipt or bill of lading for grain, etc., is held as security, such grain, etc., shall not be held in pledge for any period exceedin...
-Warehouse Receipts - Description Of Place Of Storage
Question 540. - Is not the description of the place where goods are stored an essential point in a warehouse receipt? The statement of Mr. Lash in his article (Vol. II., p. 71 of the Journal), would s...
-Warehouse Receipt For Goods In Bond
Question 541. - Can a warehouseman properly issue a warehouse receipt within the meaning of the Bank Act for goods in bond; or, in other words, are goods in bond in the actual, visible and continued ...
-Promise To Give Security Under Sections 87, 88 And 90 Of The Bank Act
Question 543. - A grain dealer gives the bank a promise in writing to the following effect: In consideration of the bank making advances to me from time to time in connection with my grain business, ...
-Accepted Bill Of Exchange With Bill Of Lading Attached - Goods Not Equal To Sample
Question 544. - 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 matures the drawee finds that the whea...
-Draft Accompanied By Bill Of Lading For Payment - Surrender Of Bill Of Lading To Drawee To Enable Him To Examine Goods
Question 545. - A bank holds a bill for collection, with bill of lading and certified invoice attached to be surrendered on payment only, the goods being in bond. Is the bank justified in surrendering...
-Draft with Bill of Lading Attached. Should Collecting Bank Permit Drawee to Examine Goods?
Question 546 - A draft is received for collection from a western bank with a bill of lading to order attached, instructions being surrender bill of lading on payment. Drawee asks for permit to exa...
-Draft with Bill of Lading Attached, Cashed by a Bank. Has the Acceptor any Recourse Against the Bank if the Bill of Lading should Prove to be Forged, or if the goods are not as Ordered?
Question 547. - A bank has cashed a draft with hill of lading attachad, the goods being shipped to order of the bank. Has the drawee any recourse against the bank if the goods are not as ordered or in...
-Bill Of Lading - Endorsement
Question 548. - A bill of lading is made out covering goods consigned to the order of John Jones. Is it necessary for the bank to endorse it as most railway agents say that they have to have bank's en...
-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 549. - A bank cashes a draft accompanied by a bill of lading drawn to the order of the bank. If the carrier should deliver the goods to someone other than the bank, can he be held accountable...
-Receipts Of Railways - Their Value
Question 550. - City miller bought wheat from village grain merchant f.o.b. at village. Bill of lading and draft attached sent to city bank. Buyer states wheat unloaded 50 bushels short. Where, under ...
-Bill Of Lading Obtained From A Carrier By Fraud And Held By A Third Party As Security For An Advance
Question 551. - 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, can the carrier defend the claim of an innocent holder w...
-Bills Of Lading
Question 552. - 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 & Co., New York, co...
-Bills Of Lading As Security
Question 553. - 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 on the pa...
-Incorporated Company - Power To Borrow On Security Of Goods Under Section 88 Of The Bank Act
Question 554. - Can a company having a Dominion charter borrow on the security of goods under section 88 of the Bank Act without limitation as to the amount? Answer. - If the company is incorporate...
-Security Under Section 88 Of The Bank Act - Dealer In Automobiles
Question 555. - A dealer in automobiles wished to purchase six motor trucks and made application to a bank-advance him the money to pay for them. Is it allowable for the bank to take a security receip...
-Answer. - No Security Under Section 88 Of The Bank Act - Wholesale Manufacturer And Wholesale And Retail Dealer In Cigars
Question 556. - (1) Can a bank make advances to a wholesale dealer in tobacco and cigars, who is also a manufacturer of cigars, under section 88 of the Bank Act? (2) How could you answer the above ...
-Security Under Section 88 Of The Bank Act - Married Woman Resident In Ontario
Question 557. - Can a married woman resident in Ontario give security under section 88 and issue warehouse receipts? Answer. - A married woman resident in Ontario may give security under section 88...
-Security Under Section 88 Of The Bank Act - Goods Stored In Rented Warehouse
Question 558. - Can a man give security under section 88, or warehouse receipts for goods stored in a warehouse which he has rented? Answer. - A man can give valid security under section 88 if he i...
-Dealer
Question 559. - Section 88 of the Bank Act allows banks to take security from wholesale manufacturers, wholesale purchasers, shippers and dealers. Does this section admit of taking security under it f...
-Wakehouse Receipts Etc., Signed By Attorney
Question 560. - (1) Do banks take warehouse receipts or assignments under section 88 of the Bank Act, signed by attorney? (2) If the goods were made away with, could the principal be prosecuted cri...
-Section 88 Of The Bank Act - Classes Of Persons From Whom Security May Be Taken, And Form Of Security
Question 561. - (1) Section 88 of the Bank Act appears to deal only with wholesale manufacturers, wholesale purchasers, dealers or shippers, and with farmers. Can a bank take from others security of t...
-Section 88 Of The Bank Act - Goods In Warehouse, Etc
Question 562. - A firm of commission merchants have as part of their business a large warehouse, part of which they use as a bonded warehouse. They sell on commission as agents for various manufacture...
-Security Under Section 88 Of The Bank Act - Assignment Must Be Taken From The Owner Of The Goods
Question 563. - A bank agrees to make an advance to Brown Bros, on the security of hogs. The hogs are the property of the firm, but are in possession of Robert Brown, one of the partners. Should the a...
-Security Under Section 88, Bank Act, On "All" The Goods In A Particular Place
Question 564. - The security under section 88 which we have taken from our customer reads: All the lumber in our yard situated on Victoria Street, and also that in our yard on Peter Street. Th...
-Security Under Section 88 Of The Bank Act - Automobiles - Power Of Agent
Question 565. - 1. Can a bank hold automobiles under security receipt, or must an independent warehouse receipt be taken? Would it be necessary to take the numbers on the machines? Suppose the maker h...
-Security Under Section 88 Of The Bank Act - Maple Sugar - Fine Finished Leather
Question 566. - Does the fact that security on pig-iron given by an importer (not a manufacturer) in form of a security receipt (not a warehouse receipt) is invalid, mean that advances under security ...
-Security Under Section 88 Of The Bank Act - Groceries - Fuel For Manufacturing Purposes
Question 567. - Can section 88 of the Bank Act give a bank taking security under it, a lien on all materials on the pledgor's premises; for instance, a manufacturer of clothing? Can the security cover...
-Security Under Section 88 Of The Bank Act - Goods In Process Of Manufacture
Question 568. - A bank advances money to buy hides, taking security on the same under section 88; the bank and the customer agree that the latter may manufacture them into gloves without prejudice to ...
-Security Under Section 88 Of The Bank Act - Logs
Question 569. - A bank has made advances for which it holds security, under section 88, on logs on the banks of a certain river within a defined timber limit The logs have to be removed in the spring....
-Security Under Section 88 Of The Bank Act - Advances On Timber - Prior Claim Of Purchaser Who Has Given Notice Of Ownership
Question 570. - A, who is operating a sawmill, sold a million feet of lumber to be cut and delivered as cut at the railway siding near the mill. The purchaser resides at a distance. Under the contract...
-Security Under Section 88 Of The Bank Act - Assign Ment Of Goods " As Per Schedule Attached."
Question 571. - Is it proper for an assignment under section 88 of the Bank Act to be signed by the customer in blank? If so, is it sufficient to hold a stock list, revised and submitted by the custom...
-Section 88, Bank Act - Advances On Assignments And Warehouse Receipts Cleared Off From Proceeds Of Bills Of Exchange Negotiated By The Bank, And Representing A Sale Of The Goods Held As Security
Question 572. - A customer, who is a produce dealer and warehouseman, has advances secured by assignments under section 88, and by warehouse receipts given by other warehousemen. He sells us certain b...
-Warehouse Receipts Given Under Ontario Mercantile Amendment Act
Question 573. - A private banker acquires security on wheat in the owner's possession, by a warehouse receipt which is valid under the Ontario Mercantile Amendment Act. The private banker thereupon en...
-Section 88, Bank Act - Inapplicable To Private Bankers
Question 574. - Would an assignment of merchandise to a private banking firm drawn in the form provided in Schedule C to the Bank Act, 1913, hold good as against judgment creditors of the assignor? Do...
-Security Under Section 88 Of The Bank Act - Provincial Registration
Question 575. - In section 85 of the Bank Act a lien acquired by a bank on ships is subject to the law of the Province. No mention of the Provincial laws is made in section 88. Must security taken und...
-Warehouse Receipt Security Acquired For An Overdraft Without A "Written Promise."
Question 576. - A customer's account has been overdrawn for some days, an advance by way of overdraft having been granted without having a written promise to give security. If a note is subsequently d...
-Security Under Section 88 Of The Bank Act - Written Promise To Give Security
Question 577. - In the fall of the year a firm of lumbermen make application to a bank for advances to be made during the ensuing winter, to enable them to carry on lumbering operations. The firm s...
-Section 88 Of The Bank Act - Effect Of Promise To Give Security On Threshed Grain
Question 578. - May a bank take a promise to give security on threshed grain, from a farmer to secure an advance under section 88, if the grain is still uncut and in the field? Would it be valid ...
-Security Undee Section 88 Of The Bank Act - Advances On Live Stock
Question 579. - Under the laws of Saskatchewan farmers have exemption from execution - four horses, four cattle, etc. Can a farmer for the purpose of securing advances waive exemptions on his horses a...
-Section 90 Of The Bank Act - Advances Made In The Morning Not Covered By Security Until The Afternoon
Question 580. - Are the requirements of section 90 of the. Bank Act fulfilled by the taking of securities under section 86 of the Act, in the following manner and without any promise on the part of th...
-Insurance Certificates Accompanying Bills Of Lading Form
Question 581. - A certificate of insurance is attached to a bill of lading. Must this certificate be drawn in favour of the drawer of the relative bill of exchange, or may it be in favour of the bank ...
-Insurance Policy On Goods Assigned Under Section 88 - Written Consent Of Insurance Company To Transfer Of Property Not Essential
Question 582. - Under one of the clauses found in policies issued by fire insurance companies in Canada, any transfer or assignment of the property insured, without the written consent of the company,...
-Insurance Payable To A Bank "As Its Interest May Appear."
Question 583. - A bank holds security under section 88 on beef, pork and cured meats. The insurance policy lodged with the bank covers beef, pork, cured meats, lard and lard pails, bacon sacks, salt, ...
-Insurance On Property Held As Security
Question 584. - If a bank notifies a customer that it has assumed possession of goods assigned to it under section 88 of the Bank Act - although allowing the goods to remain on the customer's premises...
-Securities Under Section 88 Of The Bank Act
Question 585. - A bank gives credit to a grain buyer, and arranges, for his convenience, to cash his grain tickets, taking a note and security under section 88 covering the grain, whenever the amount ...
-Insurance On Hypothecated Goods
Question 586. - A mercantile house holds a policy of insurance covering goods in their possession, their own or held in trust or on commission for which they are responsible in case of loss. The own...
-Use Of Title "Savings Bank" By A Trust Or Loan Company
Question 587. - Is a trust or loan company allowed to use the words Savings Bank in an advertisement? If not, why not? Answer. - No. This is a contravention of section 156 of the Bank Act, which ...
-"Paid Up Capital" - " Reserve Fund" -"Double Liability."
Question 538. - Please give full explanation of the meaning of paid-up capital, and reserve. What is meant by double liability, as regards shareholders of a bank? Answer. - By paid-up capital is me...
-Stock Transfers
Question 589. - (1) Is it legal for a person holding shares in a bank to transfer them to his own name in trust, and vice versa? (2) Can a firm transfer stock to one of the parties composing it and...
-Power Of Attorney Held By Brokers Authorizing Bank Officers To Transfer Bank Stock
Question 590. - Is the manager justified in acting on a power of attorney from a shareholder of the bank, which authorizes him to sell and transfer certain of its shares on behalf of the shareholder, ...
-New Stock Issued By A Bank - Allotment To Executors Who Are Not Authorized To Invest More Money In Bank Stocks
Question 591. - The trustees of an estate are entitled to an allotment of new stock about to be issued by a bank, at a price which would give them considerable profit, but they are debarred by the ter...
-Bank Stocks Held "In Trust" - Trustees And The Double Liability
Question 592. - A trustee accepts a transfer of stock in a bank, describing himself as a trustee but without stating for whom. In case there should be a call for the double liability would he be perso...
-Pension Fund - Investment In Bank Stock - Double Liability
Question 593. - Where investment is made in bank stock of a part of officers pension fund of a bank, in event of the failure of that bank, on whom would the double liability call be made in respect to...
-Government Bank Statement - Directors' Liability
Question 594. - 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 liabilities, direct and i...
-Unclaimed Dividends
Question 595. - Section 114 of the Bank Act requires a return to be made annually of all dividends which have remained unpaid beyond five years. Are not such dividends, as arrears of interest, outlawe...
-Power Of Provincial Legislatures To Tax Banks
Question 596. - Under what authority does the Provincial Government tax banks? Answer. - Section 92, sub-section 2 of the British North America Act gives the Provincial Legislature the exclusive ri...
-Powers Of Quebec Municipalities To Tax Banks
Question 597. - Has a town corporation in the Province of Quebec power to levy a business tax on banks? Answer. - We are advised that the Municipal Act of the Province of Quebec does not give town ...
-Section 76 Of The Bank Act - Deposit Of Title Deeds With Promise To Execute Mortgage
Question 598. - A borrower when obtaining a loan from a bank offers to leave with the bank the title deeds to his property, and a written undertaking that if he fails to pay the loan at maturity he wi...
-Keys And Combinations Of Branch Bank Lodged With Another Bank
Question 600. - 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 office, with ...
-Delivery Of Money Parcel After Banking Hours
Question 602. - The agent of an express company, with which a special contract exists, brings to the bank office at 5 p.m a parcel of money, and requests the one officer whom he finds there, to take d...
-Money Parcel Receipted For By Express Agent In Bank's Own Office
Question 603. - If a parcel of money. is receipted for by the local agent of an express company in a bank's own office would the express company be legally responsible for the loss if the money should...
-Money Found In The Public Department Of A Bank
Question 604. - A small sum has been found on the floor of the bank outside the counter. The party finding it has handed it to the manager, stating that he will consider himself entitled to the money ...
-Registration Of Partnerships - Ontario
Question 605. - What is the law governing the registration of business names such as: Jones & Jones; the Jones Company; Jones & Brothers; Jones & Company; the Jones Publishing Company? Are there an...
-What Constitutes Partnership - Registration
Question 606. - Should a private banking firm, whose business is confined strictly to private banking, register a certificate of the co-partnership, under cap. 152, R. S. 0.? Answer. - The answer t...
-Restriction In A Deed Of Partnership
Question 607. - If by the terms of the deed of partnership special restrictions are fixed as to the mode in which the partnership may be bound, would these affect the bank in the absence of actual not...
-Liability Of An Agent For Transactions On The Company's Behalf
Question 608. - Is the properly authorized agent or official of any company personally liable for transactions on the company's behalf which are within his powers? Answer. - We do not think an agen...
-Joint Stock Companies - Limitation Of Borrowing Powers
Question 609. - Section 69, sub-section 2 of the Companies Act says: Nothing in this section contained shall limit or restrict the borrowing of money by the company on bills of exchange or promissory...
-British Columbia Companies - Statutory Borrowing Restrictions
Question 610. - I have always understood that British Columbia companies cannot borrow from a bank in excess of the paid-up capital. Is this correct? If so, would a special resolution of the sharehold...
-Debentures Issued Without Coupons
Question 611. - 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 value of the pro...
-Shareholder's Rights To Inspect The Books Of A Corporation
Question 612. - Has a shareholder in a bank or corporation a right to see the minutes of the board meetings? Answer. - No. As far as shareholders in banks are concerned they have no right to see an...
-Joint Stock Company - Transfer Of Shares Without Directors' Con Skat
Question 613. - The by-laws of a joint stock company for-bid the transfer of stock by shareholders without the consent of the directors-. Would a transfer of paid-up stock he valid if made in the abse...
-Chattel Mortgage On Growing Crops Where Land Mortgaged To Another Party
Question 614. - 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 sell the farm. Will the ...
-Liability Of Vessel Owner For Cost Of Cargo Purchased By The Master Of The Vessel
Question 615. - Can a master of a schooner, not being owner or part owner, make a vessel liable for the cost of a cargo of grain? If he buys a cargo, giving in payment a draft on a third party not int...
-Trust Funds Deposited In A Private Bank
Question 616. - A solicitor or trustee deposits a client's money in a private bank, without instructions from the parties interested. In case of loss would he be held personally responsible? Answer...
-Trust Companies
Question 617. - Why do trust companies in Canada require such large paid-up capitals? How do they employ their money? Answer. - Trust companies doubtless find that their business and credits are be...
-Deposits Payable After Notice
Question 6I8. - (a) When a bank supplies a savings depositor with special savings department cheques, does not the deposit practically become payable on demand? (b) If so, is the bank justified in ...
-Annual Liquidation Of Bank Loans
Question 619. - Why does a bank like firms to clear up their loans annually when said firms are showing a regular increase in their net surplus? Answer. - Annual liquidation of liabilities not only...
-Call Loans - New York Market
Question 620. - Call loans, New York Market. What is the meaning of the expression, Call loans at 3 per cent.? Does it mean that the money must be paid whenever demand is made? Is the interest cal...
-"Index Number."
Question 621. - Please explain the meaning of the Index number, to which allusions are frequently made in financial papers. It apparently refers to the price of commodities. Answer. - It is made ...
-Books On Banking Law
Question 622. - What are the principal publications bearing on the law of banking in Canada, and giving legal decisions, etc.? Answer. - The standard works on Canadian banking law are Falconbridge'...
-Appendix
By-Laws Of The Canadian Bankers Association. Article 1. - Definitions In the following by-laws, unless there be something in the subject or context inconsistent therewith, the words: 1. The ...
-Article 2. - General Meetings
1. The annual general meeting of the association shall be held on the second Thursday of the month of November in each year, at such time and at such place as the execut've council may determine. 2...
-Article 3. - Proceedings At Meetings
1. The business of the annual general meeting shall be to receive and consider the statement of receipts and disbursements, the balance sheet, and the report of the secretary, and of the auditors, to ...
-Article 4. - Executive Council
1. The executive council of the association shall consist of the president and vice-presidents, and the seventeen councillors aforesaid, and five shall form a quorum for the transaction of business. ...
-Article 5. - Meetings Of Executive Council
1. The executive council may meet together for the despatch of business, adjourn and otherwise regulate its meetings, as it, by resolution or otherwise, may determine from time to time. 2. The Secr...
-Article 6. - Votes Of Members And Associates
1. At all meetings of the association and of the executive council, on a show of hands every member represented in person shall have one vote, and upon a poll every member represented in person or by ...
-Article 7. - Notice Of Meetings
1. Thirty days' notice shall be given of every general meeting of the association whether annual or special. 2. With the consent in writing of two-thirds of the members, a special general meeting m...
-Article 8. - Powers Of Executive Council
It is hereby expressly declared that the executive council shall have the following powers, that is to say, power 1. To take such steps as it thinks fit to carry into effect any agreement between the ...
-Article 9. - By-Laws
Notices of proposed amendments to the by-laws of the association are to be submitted to the secretary-treasurer as follows: (a) In the case of a general meeting, five weeks before such meeting. ...
-Article 10. - Secretary-Treasurer
1. The executive council shall have power from time to time to appoint a secretary-treasurer, and to remove him from office, and to fix his remuneration and the terms of his engagement. 2. The exec...
-Article 11. - Sub-Sections
1. Existing sub-sections of the association are hereby continued as, and constituted, sub-sections of the association as incorporated. Sub-sections hereby or hereinafter constituted may pass by-laws f...
-Article 12. - Journal, Lectures, Etc
1. An editing committee appointed by the, association shall supervise the pub'ication of the Journal of the Canadian Bankers Association, and the executive council shall appoint such other officers ...
-Article 13. - The Seal
1. The seal of the association shall be in the custody of the secretary-treasurer, and shall not be affixed to any instrument except by the authority of a resolution of the executive council and in th...
-Article 14. - Authentication Of Deeds And Documents
1. All deeds executed on behalf of the association may be in such form, and contain such powers, provisoes, conditions, covenants, clauses and agreements as the executive council shall think fit, and ...
-Article 15. - Accounts
1. The executive council shall cause true accounts to be kept of the sums of money received and expended by the association, and the matters in respect of which such receipt and expenditure takes plac...
-Article 16. - Audit
1. Once at least in every year, the accounts of the association shall be examined, and the correctness of the statement of receipts and disbursements and balance sheet ascertained by a qualified accou...
-Article 17. - President
1. The president of the association shall preside at all meetings, and shall be a member ex-officio of all committees. 2. In the absence of the president, the members of the council then present, s...
-Article 18. - Borrowing Powers
The association may, from time to time, at its discretion, raise or borrow by way of overdraft any sum or sums of money for the purposes of the association. ...
-Article 19. - Annual Dues
1. The dues or subscriptions payable to the association by members thereof shall be $200 for each $1,000,000 of paid-up capital or fraction thereof, as appearing in the return for the month of Septemb...
-Article 20. - Circulation
1. A monthly return shall be made to the president of the Association by all Banks doing business in Canada, in the form hereinafter set forth; the said Return shall be made up and sent in within the ...
-Article 21. - Destruction Of Notes Of Insolvent Banks
1. The President, or the person who during a vacancy in the office of, or in the absence of, the President, shall be acting as President, shall, from time to time, by writing under his hand, appoint t...
-Article 22. - Destruction Of Bank Plates
The President, or the person who during a vacancy in the office of, or in the absence of, the President, shall from time to time, by writing under his hand, appoint two or more persons to superintend ...
-Article 23. - Bank Plates And Notes
1. The Secretary-Treasurer shall keep a book or books wherein shall be kept recorded: (a) Particulars of all plates, dies and rolls from which the notes of the Chartered Banks in Canada are printed...
-Article 24. - Curator
1. Whenever any bank suspends payment a curator, as mentioned in section 117 of the Bank Act, shall be appointed to supervise the affairs of such bank. Such appointment shall be made in writing by the...
-Article 25. - Advisory Board
1. Whenever a bank suspends payment and a curator is accordingly appointed, the president shall also appoint a local advisory board consisting of three members, selected generally as far as possible f...
-Article 26. - Clearing Houses
1. Rules and Regulations. The rules and regulations contained in this By-law are made in pursuance of the powers contained in the Act to Incorporate The Canadian Bankers' Association, 63 and 64 Vict. ...
-Article 26. - Clearing Houses. Part 2
6. Officers. (a) The Chairman, or in his absence the Vice-Chairman, or other member of the Board of Management voted to the chair, shall preside over all meetings. In case of a tie, the Chairman sh...
-Article 26. - Clearing Houses. Part 3
12. Objections to Statements. Errors in Exchanges. (a) In order that the clearing statements may not be unnecessarily interfered with, a member objecting to any item delivered to it through the Cle...
-Article 26. - Clearing Houses. Part 4
13. Items Received in Trust. All bank notes, cheques, bills of exchange and other items (hereinafter referred to as items) delivered through the Clearing House to a member in the exchanges of the...
-Article 26. - Clearing Houses. Part 5
18. Expulsion of Members. Any member may be expelled from the Clearing House and debarred from the privileges thereof on a two-thirds vote of the members at a special general meeting. 19. Non-Me...
-Article 26. - Clearing Houses. Part 6
If purporting to be the endorsement of a corporation, the name of the corporation and the official position of the person or persons signing for it, must be stated. If purporting to be made by some...
-Article 26. - Clearing Houses. Part 7
12. Money lent under subsection 8 of this section to be entitled to the security therein referred to must be lent not later than the first day of August, 1915. (Subsection 12 repealed by sec. 1 o...
-Article 26. - Clearing Houses. Part 8
Schedule - Form H. In consideration of an advance of dollars, made by the Bank to A. B. for which the said Bank holds the following bills or notes (describe the tills or notes, if any) [or, in cons...
-Article 26. - Clearing Houses. Part 9
Stamp Tax on Overdrafts. (f) Whenever an advance is made by a bank to a person by way of overdraft the bank shall on the last day of each month or within five days thereafter, prepare a statement s...
-Article 26. - Clearing Houses. Part 10
Issue of Bank Cheques without Stamp - Penalty. 10. Every bank which issues, pays, presents for acceptance or payment or accepts payment of a cheque or other bill of exchange or promissory note upon...
-Article 26. - Clearing Houses. Part 11
Continuance of Business by Trustee. 27. If the trustee is directed to continue the business of a debtor he may incur obligations and make necessary or advisable advances, which obligations and adva...
-Article 26. - Clearing Houses. Part 12
Proof of Debts. 45. (1) Every creditor shall prove his debt as soon as may be after the making of a receiving order or after the date of an authorized assignment. (2) A debt may be proved by del...
-Article 26. - Clearing Houses. Part 13
Interest. 49. On any debt or sum certain, payable at a certain time or otherwise, whereon interest is not reserved or agreed for, and which is overdue at the date of the receiving order or authoriz...
-Article 26. - Clearing Houses. Part 14
An Act to Observe the Commercial and Financial Interests of Canada. [Assented to .22nd August, 1914.] Whereas for the purpose set forth in an order in council of the third day of August, 1914, ...
-Article 26. - Clearing Houses. Part 15
Interpretation. 2. In this Act, unless the context otherwise requires,(a) Dominion notes means notes of the Dominion of Canada issued and outstanding under the authority of this Act; (d)...
-Article 26. - Clearing Houses. Part 16
Coins. 4. Gold, silver and bronze coins, struck by the authority of the Crown for circulation in Canada, of the respective denominations mentioned in the schedule to this Act, and of the standard w...
-Article 26. - Clearing Houses. Part 17
12. No other silver, copper or bronze coins than those which the Crown has heretofore caused to be struck or may hereafter cause to be struck for circulation in Canada, or in some province thereof, sh...
-Article 26. - Clearing Houses. Part 18
Examination and Test of Coins. 21. For the purpose of ascertaining that coins of the currency of Canada issued from the Ottawa Branch of the Royal Mint have been coined in accordance with the provi...
-Schedule
Denomination of coin. Standard weight. Least Current weight. Standard fineness. Remedy allowance. Weight per piece. ...









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