Reports of Cases At Law And in Chancery Argued And Determined in the Supreme Court of Illinois 43 (April Term, 1865, And January And April Terms, 1867)
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In our eReader you can find the full English version of the book. Read Reports of Cases At Law And in Chancery Argued And Determined in the Supreme Court of Illinois 43 (April Term, 1865, And January And April Terms, 1867) Online - link to read the book on full screen. Our eReader also allows you to upload and read Pdf, Txt, ePub and fb2 books. In the Mini eReder on the page below you can quickly view all pages of the book - Read Book Reports of Cases At Law And in Chancery Argued And Determined in the Supreme Court of Illinois 43 (April Term, 1865, And January And April Terms, 1867)
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So, it will be seen, that the practical effect of certifying a check is the same, whether the drawer is actually charged on the books or not, as in either case, that amount of his funds is withdrawn from his control until the payment of the check is refused.
The remaining question is, whether the banker, upon whom the certified check was drawn, may, when it is presented, set off the indebtedness of the holder, against the check. In the case of Cromwell v. Wing, 1 Hall (IS". T.) 56, it was held,... that a check on a banker, given in the ordinar}^ course of busine»fe, is not presumed to be received as an absolute payment, even if the drawer have funds in the bank, but as the means to procure the money. The holder, in such a case, becomes the agent of the drawer to collect the money ; and, if guilty of no negligence whereby an actual injury is sustained by the drawer, he will not be answerable, if, from any peculiar circumstances attending the bank, the check is not paid. And in a suit against the drawer for the consideration of such a check, the holder may treat it as a nullity, and resort to the original cause of action.
What to read after Reports of Cases At Law And in Chancery Argued And Determined in the Supreme Court of Illinois 43 (April Term, 1865, And January And April Terms, 1867)?
You can find similar books in the "Read Also" column, or choose other free books by Illinois. Supreme Court to read onlineMoreLess
To quickly assess the difficulty of the text, read a short excerpt:
So, it will be seen, that the practical effect of certifying a check is the same, whether the drawer is actually charged on the books or not, as in either case, that amount of his funds is withdrawn from his control until the payment of the check is refused.
The remaining question is, whether the banker, upon whom the certified check was drawn, may, when it is presented, set off the indebtedness of the holder, against the check. In the case of Cromwell v. Wing, 1 Hall (IS". T.) 56, it was held,... that a check on a banker, given in the ordinar}^ course of busine»fe, is not presumed to be received as an absolute payment, even if the drawer have funds in the bank, but as the means to procure the money. The holder, in such a case, becomes the agent of the drawer to collect the money ; and, if guilty of no negligence whereby an actual injury is sustained by the drawer, he will not be answerable, if, from any peculiar circumstances attending the bank, the check is not paid. And in a suit against the drawer for the consideration of such a check, the holder may treat it as a nullity, and resort to the original cause of action.
What to read after Reports of Cases At Law And in Chancery Argued And Determined in the Supreme Court of Illinois 43 (April Term, 1865, And January And April Terms, 1867)?
You can find similar books in the "Read Also" column, or choose other free books by Illinois. Supreme Court to read onlineMoreLess
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