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Bank-Books

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BANK-BOOKS as evidence.—Where a party to an action finds it necessary to give in evidence the state of a banking account or other entries in the books of a bank, all that will be required from him will be the production by an officer of the bank of correct copies of the entries material to the case. By this means the great inconvenience attending the production of the original books is avoided. A party to litigation may also obtain an order allowing him to inspect and take copies of such entries.

BANK England and Ireland, Easter Monday, Um Monday in Whitsun week, the first Monday in August, and the 26th December if a week day, or if a Sunday the 27th, are the four statutory bank holidays, and in Ireland the 17th March also. In Scotland they are New Year's Day, Christmas Day (or the following Mondays if these fall on Sundays), Good Friday, and the first Mondays of May and August. By Order in Council other and additional days may be appointed. These holidays are kept as such in all banks, the Customs and Inland Revenue offices and bonded warehouses. Bills and notes payable on such tlays, and notices, presentations, and forwardings thereof are payable, given, or made, as the case may be, on the following day ; and no payment or act may be compelled to be made or done on a statutory bank holiday, which cannot be compelled on a Christmas Day or a Good Friday. SUNDAY ; DAYS OF GRACE, may also be referred to hereon.

BANK bank note is a bill of exchange or promissory note issued by the banker for the payment of money to the bearer on demand. Bank notes for less than £5 are forbidden in England ; so also is it forbidden to cir culate in England, Ireland, or Scotland, English notes of less than that amount. Except when tendered by the Bank of England itself or its branches, notes of that bank are legal tender for all sums above £5, and so would the notes of a county bank be a good tender if not objected to at the time of tender. Bank notes are not goods, nor securities, nor documents for debts ; they are, in fact, as much money as sovereigns themselves are, or any other current coin that is used in ordinary payments as money or cash. They pass by a will which bequeaths all the testator's money or cash ; on payment of them, whenever a receipt is required, the receipts ate always given as for money, not as for securities or notes. As in the case of money stolen, the true owner cannot recover a bank note after it has been paid away into currency fairly and honestly upon a valuable and bond fide transaction. The holder of a bank note has, when presenting it for payment at the bank by NS Ilia it was issued, a right in the first instance to refuse to say how he came by it ; but on the other hand the bank, upon sufficient reason, has a right to suspend payment until it is ascertained that the party tendering it for payment is un contaminated with theft or fraud. Such a case might arise where notice had

been received of the theft or loss of the note, but it would lie upon the bank to fix the theft or fraud, or guilty knowledge thereof, upon the holder. The preservation of a bank note in its perfect state is a matter of the utmost im portance, and accordingly it is protected against alteration or mutilation in a way no other instrument is protected ; thus the alteration of a note by erasing the number and substituting another would be such a material altera tion as to make it void. But in the case of notes other than those of the Bank of England, the alteration, if not apparent, would not prejudice the title thereto of a bond fide holder for value. We will now deal with some special aspects of our subject.

Lost the holder of a Bank of England note has lost it, the proper course for him to take is to notify his loss to the Bank of England, and to get another note of equal value from the bank upon giving a good indemnity.

Halves of property in the halves of bank notes sent in pay ment of a debt due to the receiver from a third person, with an intention on the part of both sender and receiver that the other halves are to follotv, re mains in the sender until he sends the second halves ; the payment being until then incomplete and conditional. It is accordingly open to the sender, at any time before sending the second halves, to withdraw from the transac tion, and redemand the first halves from the receiver, who is liable to an action for refusing to return them. A bank is bound to pay on the produc tion of the half of a bank note, either with or without an indemnity from the holder. • Presentation of Notes and the payee of a bank note does not promptly present it for payment or put it into circulation, he cannot recover its value from the person from whom he received it, if the bank should stop payment. It may be an advantage when taking a note other than one issued by the Bank of England, to obtain the endorsement of the party from whom it is received, the abet of which would be to make him liable in case the bank by which it is payable stopped payment before presentation. A party who hands over such a note, without endorsing it, is not liable thereon ; he only warrants that the note is what it purports to be, that he has a right to transfer it, and that at the time of transfer he is not aware of any fact which renders it valueless. Indorsement would not be necessary in order to make the party transferring it liable, where it could be shown that the pay ment was conditional upon the notes being honoured. Such a condition would exist in a case where the note is cashed merely to oblige the payer, or is given in payment cf a debt.

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