Cases On the Law of Bills And Notes, Selected From Decisions of English And American Courts
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Ct 583, 37 L. Ed. 363 (1893) ; Ditch & Bros. v. Western Nat. Bank, 79 Md. 192, 29 Atl. 72, 138, 23 L. ». A. 164, 47 Am. St. Rep. 375 (1894) ; Murchison Nat. Bank v. Dunn Oil Mills Co., 150 N. O. 718, 64 S. E. 885 (1909) ; Fayette Nat. Bank v. Summers, 105 Va. 689, 54 S. E. 862, 7 L. B. A. (N. S.) 694 (1906) ; United States Nat. Bank v. Geer, 55 Neb. 462, 75 N. W. 1088, 70 Am. St. Rep.
390 (1898).
"In First Nat. Bank of Belmont v. First Nat. Bank of Bamesville, 58 Ohio St. 207, 50 N. E. 723, 41 ...L. R. A. 584, 65 Am. St. Rep. 748 (1898), it is pointed out that the practice of indorsing checks 'for collection' 'for account' had be- come almost universal, but when it was decided by the Supreme Courts of New York and Missouri that the drawee bank could not recover back money paid upon a forged draft in the one case from a collecting bank, or in the other from the bank owning the draft, 'it startled the banks located in large cities, and awakened them to the dangers attending the payment of such drafts or bills, and the result was that in the year 1896, the clearing house in the city of New York adopted a rule to the effect that its members should not send through the exchanges any paper having any qualified or restrictive indorsements, such as "for collection," or "for account of," unless all indorse- ments were guaranteed by the bank sending such paper.
What to read after Cases On the Law of Bills And Notes, Selected From Decisions of English And American Courts?
You can find similar books in the "Read Also" column, or choose other free books by Smith, Howard Leslie, B. 1861 to read onlineMoreLess
To quickly assess the difficulty of the text, read a short excerpt:
Ct 583, 37 L. Ed. 363 (1893) ; Ditch & Bros. v. Western Nat. Bank, 79 Md. 192, 29 Atl. 72, 138, 23 L. ». A. 164, 47 Am. St. Rep. 375 (1894) ; Murchison Nat. Bank v. Dunn Oil Mills Co., 150 N. O. 718, 64 S. E. 885 (1909) ; Fayette Nat. Bank v. Summers, 105 Va. 689, 54 S. E. 862, 7 L. B. A. (N. S.) 694 (1906) ; United States Nat. Bank v. Geer, 55 Neb. 462, 75 N. W. 1088, 70 Am. St. Rep.
390 (1898).
"In First Nat. Bank of Belmont v. First Nat. Bank of Bamesville, 58 Ohio St. 207, 50 N. E. 723, 41 ...L. R. A. 584, 65 Am. St. Rep. 748 (1898), it is pointed out that the practice of indorsing checks 'for collection' 'for account' had be- come almost universal, but when it was decided by the Supreme Courts of New York and Missouri that the drawee bank could not recover back money paid upon a forged draft in the one case from a collecting bank, or in the other from the bank owning the draft, 'it startled the banks located in large cities, and awakened them to the dangers attending the payment of such drafts or bills, and the result was that in the year 1896, the clearing house in the city of New York adopted a rule to the effect that its members should not send through the exchanges any paper having any qualified or restrictive indorsements, such as "for collection," or "for account of," unless all indorse- ments were guaranteed by the bank sending such paper.
What to read after Cases On the Law of Bills And Notes, Selected From Decisions of English And American Courts?
You can find similar books in the "Read Also" column, or choose other free books by Smith, Howard Leslie, B. 1861 to read onlineMoreLess
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