McMaster's Commercial Decisions Affecting the Banker and Merchant; From the Decisions of the Highest Courts of the Several States Volume 22

McMaster's Commercial Decisions Affecting the Banker and Merchant; From the Decisions of the Highest Courts of the Several States Volume 22

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This historic book may have numerous typos and missing text. Purchasers can usually download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1919 edition. Excerpt: ...caused by error in message did not render the telegraph company liable to sendee for less than the whole loss.--Western Union Telegraph C0. v. Love & Walters (No. 1281) (Court of Civil Appeals of Texas. Amarillo. Jan. 30, 1918), 200 S. W. 890. See Editorial Comment and Report, Decision No. 1894. BANKS AND BANKING--CASHIER'S CHECK No. 1895. A " CASH'ER'S CHECK," being merely a bill of exchange drawn by a bank on itself, and accepted in advance by the act of its issuance, is not subject to countermand by the payee after indorsement, and has the same legal effect as a certificate of deposit or a certified check. A petition alleging that petitioner procured a cashier's check covering the amount of his deposit, that he indorsed the same over to another, that the check was returned unpaid to the bank in which the indorsee deposited it, the drawer bank in the meantime having been closed, and that the sum was charged back to the petitioner, does not state facts establishing petitioners claim as that of a depositor preferred by Const. (Ala.) 1901, sec. 250; for, while the relation of depositor and creditor existing between petitioner and the bank continued as long as he retained the check, yet when indorsed over, title passed to the indorsee, who became entitled to collect the proceeds, and, upon dishonor and the closing of the bank, to recover as a creditor, and hence no recovery by petitioner can be allowed.--Walker, Superintendent of Banks, v. Sellers (5 Div. 681) (Supreme Court of Alabama. Jan. 24, 191s), 77 So. 715. See Editorial Comment and Report, Decision No. 1895. BILLS AND NOTES--ENDORSEMENT No. 1896. AN allegation by the plaintif f of indorsement of bills of exchange is not put in issue by a verified...show more

Product details

  • Paperback | 184 pages
  • 189 x 246 x 10mm | 340g
  • Rarebooksclub.com
  • United States
  • English
  • black & white illustrations
  • 1236876539
  • 9781236876539