Goldsmiths Notes - Law Dictionary Search Results
Home Dictionary Name: goldsmiths notesGoldsmiths' Notes
Goldsmiths' Notes. Bankers' cash notes (i.e., promissory notes given by a banker to his customers as acknowledgements of the receipt of money) were originally called in London goldsmiths' notes, from the circumstance that all the banking business in England was originally transacted by goldsmiths....
Bankers' cash notes
Bankers' cash notes, formerly called goldsmiths' notes, because bankers were originally goldsmiths. Written promises given by bankers to their customers as acknowledgments of having received money for their use, payable to bearer on demand and considered as money, and transferable from one person to another by delivery. Now seldom if ever made, their use having been superseded by the introduction of cheques....
note
note 1 a : a written promise to pay a debt ;specif : promissory note in this entry bank note : a promissory note issued by a bank payable to bearer on demand but without interest and circulating as money cog·no·vit note [kÄ g-nō-vit-, kōg-] : a note in which the maker acknowledges the debt and authorizes the entry of judgment against him or her without notice or a hearing : a note containing a confession of judgment collateral note : a note secured esp. by a collateral mortgage and pledged to secure an obligation of which a hand note usually serves as evidence demand note : a note payable on demand compare time note in this entry floating rate note : a negotiable note that yields an indexed and periodically adjusted variable rate of interest called also floater hand note : a note for an obligation secured by a collateral note non-recourse note : a note whose satisfaction upon default may be obtained only out of the collateral securing it promisso...
Noting
Noting, when a promissory note or bill of exchange has been dishonoured by non-acceptance or non-payment, the holder may cause such dishonour to be noted by a notary public upon the instrument, or upon a paper attached thereto, or partly upon each.Such notes must be made within a reasonable time after dishonour, and must specify the date of dishonour, the reason, if any, assigned for such dishonour, or if the instrument has not been expressly dishonoured, the reason why the holder treats it as dishonoured, and the notary's charges. [Negotiable Instruments Act, 1881 (26 of 1881), s. 99]--The making of a memorandum or note on a bill of exchange by a notary which states that he has presented the bill for payment or acceptance, and that it has been dishonoured. It is usual, in cases of non-payment of bills of exchange, for London bankers, after six o'clock on the day upon which the bills fall due, to cause inland bills to be noted. The duty of a notary in protesting a bill consists in thre...
Bank-notes, or Bank-bills
Bank-notes, or Bank-bills, written or printed promises for money, to be paid by a banking company. They are uniformly made payable on demand. They are not like bills of exchange, mere securities or documents for debt, nor are they so esteemed, but are treated as money in the ordinary course and transactions of business by the general consent of mankind, and, on payment of them, whenever a receipt is required, it is always given as for money, not as for securities or notes. Per Lord Mansfield, Miller v. Race, (1758) 1 Burr at p. 457. Bank of England notes were made a legal tender by the 5th section of the Bank of England Act, 1833 (3 & 4 Wm. 4, c. 98), as amended, everywhere except at the Bank and its branches.One-pound notes and ten-shilling notes are now issued by the Bank of England, under the authority of the (English) Currency and Bank Notes (Amendment) Act, 1928, and made a legal tender for a payment of any amount. The notes first issued were found to be easy to forge, and they we...
Bought and Sold Notes
Bought and Sold Notes. It is no longer the custom for brokers who have succeeded in making a contract to make any entry in their books save for their own private information, and it is now almost the universal practice to regard the bought and sold notes as the proper evidence of the contract. The broker sends to the seller a 'sold note' and to the buyer a 'bought note,' these being now the usual terms, though formerly their use was sometimes the converse. When each note discloses the name of both parties to the transaction, each is a complete memorandum of the bargain. When each note only discloses the name of one party, the two may be treated as one memorandum. The bought and sold notes are deemed to constitute a single document, and if they differ materially they are nullities unless one has been assented to by the parties as containing the terms of the contract.Every contract note for or relating to the sale or purchase of any stock or marketable security must be stamped when the v...
Currency and Bank Notes Acts, 1914 and 1928 (English)
Currency and Bank Notes Acts, 1914 and 1928 (English). The 1914 Act and the Amendment Act, 1914 (4 & 5 Geo. 5 Contract Act, 1872 -. 14, 72), wee passed on the outbreak of the war with Germany, to authorize the issue of currency notes, and to make provision with respect to the note issue of banks. Under these Acts the Tresury issued currency notes for 1l., and 10s. repsectively, thenotes beinglegal tender for a payment of any amount. The 1928 Act (18 & 19 Geo. 5, c. 13), repealed the 1914 Acts (except sub-s. (5) of s. 1 and s. 5 of c. 14, enacting that currency notes are to be deemed banknotes, valuable securities and current coin for certain special purposes such as the Forgery (English) Act, 191, the Larceny Act, 1861, and other offences and the (English) Truck Acts. The 1928 Act transferred the currency note issue to the Bank of England and enated that currency notes should be deemed to be banknotes in all enactments relatingto banknotes. The (English) Gold Standard Act, 1925 (15 & 1...
Promissory Note
Promissory Note, defined in the Bills of Exchange Act, 1882, s. 83, as 'an unconditional promise in writing, made by one person to another, signed, by the maker, engaging 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.' The note can require payment at a particular place, Josolyne v. Roberts, (1908) 2 KB 349. The person who makes the note is called the 'maker,' and the person to whom it is payable is called the 'payee': when it is negotiated by the indorsement of the payee, he is called the 'indorser,' and the person to whom the note is transferred is called the 'indorsee,' The Bills of Exchange Act, 1882, codifies the law relating to promissory notes, and by s. 89 of that Act all the provisions of the Act (with few exceptions) which relate to bills of exchange relate also to promissory notes. See BILL OF EXCHANGE.Means a promissory note as defined by the Negotiable Instrument Act, 1881. [Indian S...
Lost Bill of Exchange, Cheque, or Promissory Note
Lost Bill of Exchange, Cheque, or Promissory Note. The (English) Bills of Exchange Act, 1882, s. 69, replacing the repealed 9 & 10 Wm. 3, c. 17, s. 3, enacts that if a bill of exchange, or cheque, or note, be lost before it is overdue, 'the person who was the holder of it may apply to the drawer to give him another bill (or cheque, or note) of the same tenor, giving security to the drawer, if required, to indemnify him against all persons whatever in case the bill (or cheque, or note) alleged to have been lost shall be found again'; and that 'if the drawer on request as aforesaid refuses to give such duplicate bill (or cheque, or note), he may be compelled to do so.' By s. 70 of the same Act, re-enacting 17 & 18 Vict. c. 125, s. 87, 'in any action or proceeding on' a bill (or cheque, or note), the Court may order that the loss of the instrument shall not be set up, provided an indemnity be given to the satisfaction of the Court against the claims of any other person upon the instrument...
Contract note
Contract note, a short statement of the effect of a contract. The expression is defined ins. 77(3) of the Finance (1909-10) Act, 1910, as follows:--For the purposes of this Part of this Act, the expression contract note' means the note sent by a broker or agent to his principal, or by any person who by way of business deals, or holds himself out as dealing, as a principal in any stock or market-able securities, advising the principal or the vendor or purchaser, as the case may be, of the sale or purchase of any stock or marketable security, but does not include a note sent by a broker or agent to his principal where the principal is himself acting as broker or agent for a principal, and is himself either a member of a stock exchange in the United Kingdom or a person who bona fide carries on the business of a stockbroker in the United Kingdom, and is registered as such in the list of stockbrokers kept by the Commissioners.The same s. imposes stamp duties on contract notes varying with t...
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