BANISHMENT. A punishment inflicted upon criminals, by compelling them to quit a city, place, or country for a specified period of time, or for life. See Cooper v. Telfalr, 4 Dall. (U. S.) 14, 1 L. Ed. 721. It is syn onymous with exilement and imports a com pulsory loss of one's country. 3 P. Wms. 38.
BANK (Anglicized form of bunco, a bench). The bench of justice.
sittings in bank (or banc). An official meeting of four of the judges of a common• law court. Wharton, Lex.
Used of a court sitting for the determination at law points, as distinguished from nisi pries sittings to determine facts. 3 Dia. Com. 28, n.
Bank le Roy. The king's bench. Finch, 198.
The bank of the sea is the utmost border of dry land. Callis, Sewers 73.
In Commercial Law. A place for the de posit of money; Oulton v. Institution, 17 Wall. (U. S.) 118, 21 L. Ed. 618. See Curtis v. Leavitt, 15 N. Y. 166; Pratt v. Short, 79 N. Y. 440, 35 Am. Rep. 531; People v. R Co., 12 Mich. 389, 86 Am. Dec. 64.
The business of banking, as defined by law and custom, consists in the issue of notes payable on demand intended to circulate as money when the banks are banks of issue; in receiving deposits payable on demand; in discounting commercial paper ; making loans of money on collateral security; buying and selling bills of exchange; negotiating loans, and dealing in negotiable securities issued by the government, state and national, and municipal and other corporations. Mercan tile Bank v. New York, 121 U. S. 138, 156,7 Sup. Ct. 826, 30 L. Ed. 895.
Banks are said to be of three kinds, viz; of depoSit, of discount, and of circulation, they generally exercise all these functions; Oulton v. Say. Soc., 17 Wall. (U. S.) 118, 21 L. Ed. 618.
It was the custom of the early money-changers to transact their business in public places, at the doors of churches, at markets, and, among the Jews, in the temple (Mark xi. 15).. They used tables or benchee for their convenience in counting and as sorting their coins. The table so used was called banche, and the traders themselves, bankers or benchere. In times still more ancient, their benches was called canzbii, and they themselvee were called cambiatort. Du Cange, Carnbii.
The issue of paper in the similitude of bank notes and intended to circulate is an act of banking; People v. R. Co., 12 Mich. 389, 86 Am. Dec. 64; so is keeping an office to discount notes; People v. Bartow, 6 Cow. (N. Y.) 290; but not if the party only lends his own money ; People v. Brewster, 4 Wend. (N. Y.) 498; nor is merely receiving money on deposit ; State v. ins. Co., 14 Ohio 6; contra, Com. v. Sponsler, 16 Co. Ct. (Pa.) 116.
A corporation loaning its own money on mortgages is not a banking corporation; Ore gon & W. Trust Inv. Co. v.'Itathburn, 5 Sawy. 32, Fed. Cas. No. 10,555; nor a firm which does not lend money (except on landed se curity), discount paper or buy or sell drafts; Scott v. Burnham, 56 Ill. App. 30. An unincorporated bank owned by a private individual is not a legal entity, though it is conducted by a so-called president and cash ier ; Longfellow v. Barnard, 59 Neb. 455, 81 N. W. 307; to the same effect, In re Purrs Estate, 147 Mo. App. 105, 125 S. W. 849.
See NATIONAL BANKS; BANK NOTE; DIS COUNT; GUARANTEE FUND; CHECK; CASHIER; DIRECTOR; DEPOSIT; OFFICER; SAVINGS BANK.