This section is from the book "Canadian Banking Practice", by John T. P. Knight.
This section is from the "" book, by .
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, Treasurer," and endorsed " John Smith n?
Answer. - We think not. There can be no question but that the endorsement "John Smith" in either case would be suffi cient; nevertheless in practice it is well to have the quality in which he signs added, and the payee might reasonably be asked to conform to the common practice.
 
Continue to: