Drawer - Law Dictionary Search Results
Home Dictionary Name: drawer Page: 2Protest
Protest, a solemn declaration of opinion, generally of dissent. Each peer has a right, when he disapproves of the vote of the majority of the House of Lords, to enter his dissent on the Journals of the House, with his reasons for such dissent, which is usually styled his protest.Also a notification written by a notary upon a foreign bill of exchange of non-acceptance or non-payment; as to this, see Bills of Exchange Act, 1882, s. 51, by which a foreign bill, dishonoured by non-acceptance or non-payment, must be duly protested, otherwise the drawer and indorsers are discharged. All protests made in England must, by the (English) Stamp Act, 1891 (see schedule), be stamped, otherwise they cannot be given in evidence without payment of a penalty.The following is a form of protest for non-payment:-On the .......... day of .........., at the request of A.B., bearer of the original bill of exchange, whereof a true copy is on the other side written, I [notary's name], of [address], notary publ...
Sets of Exchange, or of Bills
Sets of Exchange, or of Bills. It has been common, from a very early period, for the drawer to draw and deliver to the payee several parts, commonly called a set, of the same bill of exchange, any one part of which being paid, the others are void. This is done to obviate inconveniences from the mislaying or miscarriage of the bill, and to enable the holder to transmit the same by different conveyances to the drawee, so as to ensure the most speedy presentment for acceptance and payment. The general usage in England and America is for the drawer to deliver a set of three parts of a bill to the payee or holder, Byles on Bills.By the Bills of Exchange Act, 1882, s. 71, 'where a bill is drawn in a set, each part of the set being numbered and containing a reference to the other part, the whole of the parts constitute one bill....
Pajamas
Originally in India loose drawers or trousers such as those worn tied about the waist by Mohammedan men and women by extension a similar garment adopted among Europeans Americans etc for wear in the dressing room and during sleep also a suit consisting of drawers and a loose upper garment for such wear...
Pyjama
In India and Persia thin loose trowsers or drawers in Europe and America drawers worn at night or a kind of nightdress with legs Usually used in the plural See pajamas...
Bill of Exchange
Bill of Exchange. Defined in the (English) Bills of Exchange Act, 1882 (45 & 46 Vict. c. 61), s. 3, as an 'unconditional order in writing, addressed by one person to another, signed by the person giving it, requiring the person to whom it is addressed to pay on demand or at a fixed or determinable future time a sum certain in money to or to the order of a specified person, or to bearer.'It is a chose in action, but, for the encouragement of commerce, it is assignable, at Common Law, by mere endorsement, so that very many names are frequently attached to one bill as endorsers, and each of them is liable to be sued upon the bill, if it be not paid in due time. the person who makes or draws the bill is called the drawer, he to whom it is addressed is, before acceptance, the drawee, and after accepting it, the acceptor; the person in whose favour it is drawn is the payee; if he endorse the bill to another, he is called the endorser, and the person to whom it is thus assigned or negotiated ...
Retour sans protet
Retour sans protet [Fr.] (return without protest), a request or direction by a drawer of a bill of exchange, that should the bill be dishonoured by the drawee, if may be returned without protest or without expense (sans frais), Byles on Bills....
Post-dated cheque
Post-dated cheque, are not invalid, but the banker should not pay such a cheque if presented before the date it bears. If therefore, a cheque dated on a Sunday is presented on the previous business day, it should be returned with the answer post-dated. A post-dated cheque, however, if presented at or after its ostensible date, should be paid though the banker knows it to be post-dated, and even if it has been presented before the date and refused payment, Halsbury's Laws of England, 4th Edn., Vol. 3(1), p. 143.Means a cheque must not be post-dated, that is, dated after the day on which it is presented for payment to the drawee branch. Post-dated cheques present for more difficulties to the banker than antedated cheques. There are practical difficulties rather than legal ones ..... But a cheque is generally post-dated because the drawer does not expect to have the funds to meet it until that date arrives. It is a mandate to the banker to the effect that it should not be paid before that...
Payment, out of
Payment, out of, the words 'payment out of' in its first meaning connotes actual payment, e.g., by taking the money out of the drawer or drawing a cheque on of bank. When used in connection with the word 'fund' in its second meaning they connote that, for the purposes of the account in which the fund finds place, the payment is debits to that fund, an operation which, of course, has no relation to the actual method of payment or the particular cash resources out of which the payment is made, R.K. Dalmia v. Delhi Administration, AIR 1962 SC 1821 (1834): (1963) 1 SCR 253....
Indorsement
Indorsement [fr. in, Lat., upon, and dorsum, a back], anything written or printed upon the back of a deed or writing. The requisites of a valid indorsement of a bill of exchange, promissory note, or cheque, are laid down by the (English) Bills of Exchange Act, 1882 (45 & 46 Vict. c. 61), s. 32, the principal requisites being that the indorsement must be written on the bill itself (except in the case of an 'allonge' or 'copy' in a country where 'copies' are recognized) and signed by the indorser, his simple signature, without additional words, being sufficient; that it be an indorsement of the entire bill [though indorsement of a blank form may be valid, Glenie v. Tucker, (1908) 1 KB 263]; and that where there are two or more indorsements, each is deemed to have been made in the order in which it appears on the bill, cheque, or note, until the contrary is proved. As to the recovery of the amount of the cheque by the drawer, after payment obtained by a forged indorsement, see North and S...
Inchoate
Inchoate, begun, but not completed. By the Bills of Exchange Act, 1882, s. 20, 'a simple signature on a blank stamped paper,' delivered by the signer in order that it may be converted into a bill, 'operates as a prima facie authority to fill it up as a complete bill for any amount the stamp will cover, using the signature for that of the drawer, or the acceptor, or an indorser.'...
- << Prev.
- Next >>