Practically every commercial transaction we can engage in rests on an agreement between parties. Arrangements for credit; promises to perform future acts; indorsements on bills and notes; agreements to pay another's debt; a bank's promise to pay checks drawn on a checking account; insurance policies - all of these are examples of agreements which are contracts. It can be seen, therefore, that a knowledge of the principles of the law of contracts is extremely important to the banker, for he is continually concerned with the business affairs of other people, and he should know just what the duties and rights of a bank are in any transaction to which it is a party.

Contract To Perform Work

This Agreement made this fourth day of April, 1922, between John Rogers of Mattoon, Illinois, and George Smith of the same place, witnesseth: That the said John Rogers agrees to work for the said George Smith as a laborer in the latter's lumber yard near the city of Mattoon, during a period of six months, beginning April 15, 1922, and ending October 14, 1922.

In consideration of the services so performed, the said George Smith agrees to pay to the said John Rogers the sum of Fifty Dollars per month, to be paid at the end of each month of said term.

In witness whereof, we have hereunto set our hands and seals the day and year first above written.

Witnesses:

C. E. Keagy A. Q. Fulton

John Rogers

L. S.

George Smith

L. S.