Check - Law Dictionary Search Results
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not for consideration, and discharge the obligation of the other party to pay. c : to mark (a check) to indicate that payment has been made by the bank NOTE: A check is no longer negotiable once
Regulation J
J : a regulation of the Board of Governors of the Federal Reserve System governing the collection of checks and other cash and noncash items and the handling of returned checks by Federal Reserve banks
Banker
that the Limitations Act, 1623, (21 Jac. 1, c. 16), runs against the customer. See UNCLAIMED PROPERTY. A cheque is not an assignment to the payee of the customer's balance, so that if a customer having a
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Negotiation by delivery
of 1881), s. 47] Subject to the provision of s. 58, a promissory note, bill of exchange or cheque payable to bearer is negotiable by delivery thereof. Exception.--A promissory note, bill of exchange or cheque delivered on
Post-dated
Post-dated, a cheque which is dated subsequent to the actual date on which it is drawn, and which is issued before
Payee
paid, Negotiable Instruments Act, 1881, s. 7. One to whom a bill of exchange or promissory note or cheque is made payable; he must be named or otherwise indicated therein, with reasonable certainty. The bill, note, or
Receipt
receipt is given before he delivers it out of his hands. The receipt form sometimes indorsed upon a cheque or other bill of exchanges requires a 2d. stamp under this section, Midland Bank v. Inland Rev. Commissrs.,
Holder
a bill of exchange or a promissory note. The 'holder' of a promissory note, bill of exchange or cheque means any person entitled in his own name to the possession thereof and to receive or recover the
False pretence, obtaining property
must have been obtained by means of such false pretence. The false pretence may be by giving a cheque which the pretender has no authority to draw, but to give a cheque on an account on which
dishonor
refusal on the part of the issuer (as a bank) to pay or accept commercial paper (as a check) when it is presented see also wrongful dishonor vt : to refuse to pay or accept [a bank
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