Collecting Bank - Law Dictionary Search Results
Home Dictionary Name: collecting bank Page 1 of about 20 results (0.004 seconds)collecting bank
collecting bank see bank ...
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 ...
settlement
settlement 1 : the act or process of settling 2 a : an agreement reducing or resolving differences ;esp : an agreement between litigants that concludes the litigation [the states finally agreed upon a and a consent decree "W. J. Brennan, Jr."] [entered into a property prior to the divorce] b : a formal and permanent grant or conveyance c : the sum, estate, or income granted or paid under a settlement [if the monetary limits of a defendant's insurance policy can be discovered in order to obtain reasonable s "J. H. Friedenthal et al."] 3 : closing [ costs] 4 : the transfer of funds between a payor bank and a collecting bank in order to complete transactions for customers ...
Short entry
Short entry. It takes place when a bill or note, not due, has been sent to a bank for collection, and an entry of it is made in the customer's bank-book, stating the amount in an inner column, and carrying it into the accounts between the parties when it has been paid. See ENTERING SHORT....
customer
customer 1 : a person or business that purchases a commodity or service 2 a : a person or entity having an account with a bank or on whose behalf the bank has agreed to collect items b : a person or entity for whom an issuer issues a letter of credit ...
D'Oench doctrine
D'Oench doctrine [from D'Oench, Duhme & Co., Inc. v. Federal Deposit Insurance Company, 315 U.S. 447 (1942), the Supreme Court case establishing the doctrine] : a doctrine in banking law: a party (as a borrower or guarantor) cannot assert an unrecorded agreement with a failed bank against attempts by the federal insurer (as the Federal Deposit Insurance Corporation) or its assigns to collect on a promissory note (as a loan) called also D'Oench Duhme doctrine ...
House of Commons
House of Commons, one of the constituent parts of Parliament, being the assembly of knights of shires, or the representatives of counties; citizens, or the representatives of cities; and burgesses, or the representatives of boroughs.The lowest chamber of British and Canadian Parlia-ment, Black's Law Dictionary, 7th Edn., p. 744.Property Qualification.--The property qualification of members, which was by 1 & 2 Vict. c. 48, amending 9 Anne, c. 5, by allowing personal property to count fixed at 600l. a year for a county, and 300l. a year for a borough member, was abolished in 1858 by 21 & 22 Vict. c. 26.Payment of Members.--Members were from very early times entitled to payment at the rate of 4s. a day for county, and 2s. a day for borough members, payable by their constituents. This has never been abolished, and is recognized by the unrepeated 6 Hen. 8, c. 16, by which members may not depart from Parliament without licence from the Speaker on pain of losing their 'wages,' though 35 Hen. ...
good faith
good faith [translation of Latin bona fides] : honesty, fairness, and lawfulness of purpose : absence of any intent to defraud, act maliciously, or take unfair advantage [filed the suit in good faith] [negotiating in good faith] see also good faith exception, good faith purchaser compare bad faith NOTE: The meaning of good faith, though always based on honesty, may vary depending on the specific context in which it is used. A person is said to buy in good faith when he or she holds an honest belief in his or her right or title to the property and has no knowledge or reason to know of any defect in the title. In section 1-201 of the Uniform Commercial Code good faith is defined generally as “honesty in fact in the conduct or transaction concerned.” Article 2 of the U.C.C. says “good faith in the case of a merchant means honesty in fact and the observance of reasonable commercial standards of fair dealing in the trade.” Similarly, Article 3 on negotiable inst...
Partnership
Partnership, the relation which subsists between persons carrying on a business with a view to profit--so defined by s. 1, sub-s. 1, of the (English) Partnership Act, 1890 (53 & 54 Vict. c. 39), a codifying Act of fifty s.s, 'to declare and amend the law of partnership,' which, in effect, transfers the law of the subject from the region of reported cases to that of the statute; Bovill's Act' (see that title) of 1865 (28 & 29 Vict. c. 86), and a small part of the (English) Mercantile Law Amendment Act of 1856, being the only previous statutory enactments on the subject.Rules, which, however, subject to any agreement express or implied between the partners, are laid down by s. 24 for determining the interest of partners in the partnership property and their rights and duties in relation to the partnership. They provide, amongst other things, for equal shares in profits and equal contributions to losses; for indemnification of every partner by the firm in respect of payments properly made...
Credit information
Credit information, means any information relating to (i) the amount and the nature of loans or advances, amounts outstanding under credit cards and other credit facilities granted or to be granted, by a credit institution or any borrower; (ii) the nature of security taken or proposed to be taken by a credit institution from any borrower for credit facilities granted or proposed to be granted to him; (iii) the guarantee furnished or any other non-fund based facility granted or proposed to be granted or proposed to be granted by a credit institution for any of its borrowers; (iv) the credit worthiness of any borrower of credit institution; (v) any other matter which the Reserve Bank, consider necessary for inclusion in the credit information to be collected and maintained by credit information companies, and specify, by notification, in this behalf [Credit Information Companies (Regulation) Act, 2005, s. 2(d)]....
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