Bank Check - Law Dictionary Search Results
Home Dictionary Name: bank checkbank check
bank check see check ...
check
check 1 : something that limits or restrains see also checks and balances 2 : a written order signed by its maker directing a bank to pay a specified sum to a named person or to that person's order on demand see also negotiable instrument compare draft bank check : a check drawn by a bank on its deposits in another bank ca·shier's check : a check drawn by a bank on its own funds and signed by the cashier or another bank official certified check : a check certified to be good by the bank upon which it is drawn by the signature of usually the cashier or paying teller with the word certified or accepted across the face of the check NSF check [Not Sufficient Funds] : a check drawn on an account with insufficient funds from which to make payment ...
check-kiting
check-kiting : the practice of drawing on uncollected funds during the time needed to clear a check deposited in a bank esp. if the check is worthless called also kiting NOTE: Check-kiting typically works this way: a check drawn on insufficient funds in one bank is deposited in a second bank, and the funds represented by the check are immediately withdrawn from the second bank. The money is ultimately deposited in the first bank to cover the check before it clears, which usually takes several days. ...
certified check
a check drawn on a bank and bearing marks from that bank guaranteeing that funds have been reserved for payment...
Cashiers check
A check drawn by a bank upon its own funds signed by the cashier...
parity check
The act or process of testing whether a byte or other data structure has an even or odd number of bits set to the value of 1 it is used primarily to detect errors in data especially in memory banks or in data transmitted over a communications line The parity can be changed by assigning one bit in each data structure as the parity bit so that the total number of bits set to the value of 1 is odd odd parity or even even parity If parity is used for error checking the writing and reading systems must first agree on which type of parity odd or even to use if the reading system detects a deviation from the agreed parity it signals an error to be handled by the error handling processes of the system...
bank
bank : an organization for the custody, loan, or exchange of money, for the extension of credit, and for facilitating the transmission of funds branch bank : a banking facility that is a separate but dependent part of a chartered bank ;esp : a facility that performs some banking functions and is separate from a main office bridge bank : a national bank that is chartered for a limited time to operate an insolvent bank until it is sold central bank : a national bank that establishes monetary and fiscal policy and controls the money supply and interest rate collecting bank : a bank other than the payor bank that is handling for collection a negotiable instrument or a promise or order to pay money commercial bank : a bank organized chiefly to handle the everyday financial transactions of businesses (as through deposit accounts and commercial loans) cooperative bank : an association (as a credit union) owned by and offering banking services for its members ;specif : savings and ...
Bank
Bank, Commercially it is a place where money is deposited for the purpose of being lent out at interest, returned by exchange, disposed of to profit, or to be drawn out again as the owner shall call for it. Special provisions are contained in the (English) Companies Act, 1929 relating to Banks. By s. 358, no company, association or partnership consisting of more than ten members shall be formed for the purpose of carrying on a banking business unless it is registered under the Act or formed in pursuance of an Act of Parliament or of letters patent. By s. 360, the liability of the members of a banking limited company remains unlimited in respect of the bank's liability for bank-notes issued by it. As to signature of balance sheets, see s. 129 and ANNUAL RETURNS, ss. 108 and 361. See also JOINT STOCK BANKS and LIMITED LABILITY, and consult Grant, Paget, or Walker on Banking, Chitty's Statutes, tit. 'Bank.'Means financial institution engaged in the accepting of deposits of money, granting...
Banking company
Banking company, shall have same meaning assigned to it in clause (c) of s. 5 of the Banking Regulation Act, 1949 (10 of 1949) [Income Tax Act, 1961 (43 of 1961), s. 47 (vi-aa) Exp. (i).]--'Banking company' means a banking company as defined in the Banking Regulation Act, 1949. S. 5(c) of the Act of 1949 defines a banking company to mean any company which transacts the business of banking in India (subject to the provision contained in the Explanation to the section). Thus, in order that a bank may be a banking company, it is in the first place necessary that it must be a 'company', State Bank of Travancore v. Mohammed Mohammed Khan, AIR 1981 SC 1744: (1982) 1 SCR 338: (1981) 4 SCC 82 (88).does not include a foreign company within the meaning of s. 591 of the Companies Act, 1956. [Banking Companies (Acquisition and Transfer of Undertakings) Act, 1980 (40 of 1980), s. 2 (a)]means any company which transacts the business of banking in India. [The Banking Regulation Act, 1949 (10 of 1949)...
Savings banks
Savings banks, institutions for the safe custody and increase of the small savings of the poor. See Chitty's Statutes, tit. 'Savings Banks.' They are: (1) Trustee; (2) Post Office; (3) Military; (4) Statutory; (5) Uncontrolled.(1) Trustee Savings Banks are regulated by a long series of Acts (the Trustee Savings Banks Acts, 1861 to 1934), which provide that they must not be described in a manner which implies that the Government is responsible to depositors, that the money received must be paid to the Bank of England or Ireland and carried to an account kept in the names of the National Debt Commissioners, and that annual accounts must be sent to the Commissioners. An 'Inspection Committee,' estab-lished under the Savings Bank Act, 1891, has extensive powers of supervision for the purpose of detecting any breaches of the Acts or rules regulating a bank. Deposits by any depositor in more than one Trustee Savings Bank is prohibited, and the Treasury have power to limit the amount from one...
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