Question 364.— Deposit receipts and savings bank deposits are often payable to either of two parties. Is this sufficient, or would the following (from the rules of a bank in India) be better: The bank continues to grant deposit receipts " payable to either or survivor," in the case of two persons, and " payable to them, or any one of them or to the survivors or survivor in the case of three or more " ?

Answer.—When a deposit made in the name of two parties is intended to be payable to either of them or to the survivor, the issue of a receipt payable to them or either of them is sufficient. By the law in Ontario such a deposit becomes payable to the survivor in case of the death of one of the joint depositors, so that it is not necessary to express this in the receipt.

With regard to similar deposits made to the credit of three or more persons, the same point would be sufficiently covered by making the money payable to them, " or any one of them." In the case of the death of one or more of the joint depositors, the deposit would become payable to the survivors or survivor, and, as before, we would consider it unnecessary to express this.