492 Power of Attorney Authorizing a Bank Manager to Accept a Bill Held
Description
This section of the book is from the "Canadian Banking Practice" book, by John T. P. Knight.
492 Power of Attorney Authorizing a Bank Manager to Accept a Bill Held
by the Bank for Collection.
Question 502.— A bill drawn at Bank B is sent to Bank A 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 to require that this power of attorney shall be lodged with it when the bill is presented for payment ?
Answer.—Yes. The bank is entitled to be put in possession of written evidence of the attorney's authority to accept the bill.
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