The Law Relating to Banks And Their Depositors And to Bank Collections
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App. 245.
374 BANKS AND THEIR DEPOSITORS. § 384 such future remittances or where the special circumstances are inconsistent with the hypothesis of such mutual under- standing, and the one hank merely passes the proceeds of paper remitted for collection to the credit of the other on a suhsisting indebtedness which it happens at the time to have standing against the other, there is no such lien, and no right to retain and apply the money collected in that manner ; but the real owner of the funds ...may maintain an action to recover the amount."' The learned judge cited "Wilson v. Smith^ to sus- tain his position, and it may be that he intended to follow the rule established in that case. But if he did his language is not clear. It distinguishes more sharply between those banks which have mutual dealings with each other and those which have not, and declares that a lien exists between the former kind, but not between [the other. Of course a lien may exist, be created or withheld by express agreement.
What to read after The Law Relating to Banks And Their Depositors And to Bank Collections?
You can find similar books in the "Read Also" column, or choose other free books by Albert Sidney Bolles to read onlineMoreLess
To quickly assess the difficulty of the text, read a short excerpt:
App. 245.
374 BANKS AND THEIR DEPOSITORS. § 384 such future remittances or where the special circumstances are inconsistent with the hypothesis of such mutual under- standing, and the one hank merely passes the proceeds of paper remitted for collection to the credit of the other on a suhsisting indebtedness which it happens at the time to have standing against the other, there is no such lien, and no right to retain and apply the money collected in that manner ; but the real owner of the funds ...may maintain an action to recover the amount."' The learned judge cited "Wilson v. Smith^ to sus- tain his position, and it may be that he intended to follow the rule established in that case. But if he did his language is not clear. It distinguishes more sharply between those banks which have mutual dealings with each other and those which have not, and declares that a lien exists between the former kind, but not between [the other. Of course a lien may exist, be created or withheld by express agreement.
What to read after The Law Relating to Banks And Their Depositors And to Bank Collections?
You can find similar books in the "Read Also" column, or choose other free books by Albert Sidney Bolles to read onlineMoreLess
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