Banking Day - Law Dictionary Search Results
Home Dictionary Name: banking dayBanking day
Banking day, means a day which is a business day in accordance with the Bills of Exchange Act, 1882 (UK), Halsbury's Law of England, Vol. 6, 4th Edn., Para 343, p. 144....
Days in bank
Days in bank, Day set by law for appearance in court after service of summons....
New Year's Day
New Year's Day, the 1st of January. The 25th of March was the civil and legal New Year's Day till the alteration of the style in 1752, when it was permanently fixed as the 1st January.In Scotland the year was, by a proclamation which bears date 27th November, 1599, ordered thenceforth to commence in that kingdom on the 1st January instead of the 25th March. By the (English) Bank Holidays Act, 1871 (34 Vict. c. 17), New Year's Day is made a bank holiday in Scotland, and bills, etc., becoming due on that day are payable on the following day. See HOLIDAY....
Holiday, or Holyday
Holiday, or Holyday, a feast day with cessation from labour, as by 5 & 6 Edw. 6, c. 3, all Sundays in the year and also Christmas-day and other days by that Act commanded 'to be kepte holie dayes and none other.'By R.S.C. 1883, Ord. LXIII., r. 6, it is provided that the several offices of the Supreme Court shall be open on every day of the year except Sundays, Good Friday, Monday and Tuesday in Easter-week, Whit Monday, the first Monday in August, Christmas-day and the next following working day, and all days appointed by proclamation to be observed as days of general fast, humiliation, or thanksgiving; and the day appointed to be kept as the King's birthday. See also VACATION.The Bank Holidays Act, 1871 (34 & 35 Vict. c. 17), provides that Easter Monday, the Monday in Whitsun-week, the first Monday in August, and the 26th day of December, if a week day, shall be kept as bank holidays in England and Ireland, and New Year's day, Christmas-day (or, if either be a Sunday, the following da...
Days of grace
Days of grace. Time of indulgence granted to an acceptor for the payment of his bill of exchange. It was originally a gratuitous favour (hence the name), but custom has rendered it a legal right.The number of these days varies according to the ancient custom or express law prevailing in each particular country. In the (English) United Kingdom, by the Bills of Exchange Act, 1882 (45 & 46 Vict. c. 61), s. 14, 'where a bill' (i.e., a bill of exchange or promissory note) 'is not payable on demand, the day on which it falls due is determined as follows:-Three days, called days of grace, are, in every case where the bill itself does not otherwise provide, added to the time of payment as fixed by the bill, and the bill is due and payable on the last day of grace,' with a proviso that where the last day of grace falls on Sunday, Christmas Day, or Good Friday, or a public fast or thanksgiving day, the bill is payable on the preceding business day, or on the succeeding business day if the last d...
Business day
Business day, For the purposes of the (English) Bills of Exchange Act,1882, s. 92 provides that any day other than (a) Sunday, Good Friday, Christmas Day, (b) a bank holiday, (c) a day appointed by royal proclamation as a public fast or thanksgiving, is a business day.Business day means any day other than a Saturday, a Sunday, Christmas day, Good Friday or a day which is a bank holiday in any part of Great Britain; Halsbury's Laws of England, Vol. 8(1), 4th Edn., Para 1294, p. 1009....
Bank holidays
Bank holidays. Easter Monday, Whit Monday, the first Monday in August, and the 26th December if a weekday, or if it is a Sunday the 27th, or any day appointed by Order in Council in place of one of these, and any day appointed by Royal Proclama-tion in addition to these, is a statutory bank holiday in England, 34 & 35 Vict. c.17; 38 & 39 Vict. c. 13; 45 & 46 Vict. c. 61. R. S. C. 1883, Ord. LXIV. In 1914 on the occasion of the outbreak of the war with Germany the August Bank Holiday was extended by Proclamation to four days. See HOLIDAY....
Clearing
Clearing, a among London bankers a method adopted by them for exchanging the drafts of each other's houses, and settling the difference. At fixed hours, each day, a clerk from each banker attends at the clearing-house, bringing all the drafts on the other bankers which have been paid into his house during the day, and delivers to each of the other clerks the obligations he has against his house, receiving from each the obligations due from his own. Balances are struck at the end of the day, the clerk to the Clearing House making up the accounts between each bank. The balances are not paid to or received from the other bankers as formerly, but are settled with the Clearing House, which keeps an account itself at the Bank of England. There is also a Country Clearing House. Consult McLeod on Banking; Grant's Law of Banking, 6th Edn. P. 66.Maritime law. The departure of a ship from port after complying with customs, health laws and other local regulations, Black's Law Dictionary,7th Edn., ...
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...
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. ...
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