This historic book may have numerous typos and missing text. Purchasers can download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1911 edition. Excerpt: ...powers from the act, but it is true in construing Statutes of the United States, and all other legislation, that powers are granted which are necessary, or convenient, or usual, to carry out the powers which are expressly granted, and I should think that there might be an argument of that sort. Doubtless an ...
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This historic book may have numerous typos and missing text. Purchasers can download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1911 edition. Excerpt: ...powers from the act, but it is true in construing Statutes of the United States, and all other legislation, that powers are granted which are necessary, or convenient, or usual, to carry out the powers which are expressly granted, and I should think that there might be an argument of that sort. Doubtless an acceptance of a time draft cannot be made the means a lending of credit. The acceptance cannot be made for accommodation. (By Mr. Blinn) Another ruling is, the National Bank Act does not give power to own stocks, and the controller has ruled that National banks cannot own stocks. That is one of the subjects which the National Monetary Commission has now under consideration--the question of allowing National banks in certain cities to accept time paper, thus enabling them to do a commercial letter of credit business which is now handled through London. QUESTION: Can a Savings bank give a promissory note? ANSWER: (By Mr. Blinn) Yes, it can. A lot of them did in the panic of 1907, and by Statute in 1908 this power was expressly granted them. lecture fourteen liabilities of parties We take up today the subject of liability of parties on Negotiable Instruments, and in order that parties should be liable on Negotiable Instruments the requirements of Consideration must be considered, --must be taken into account. The rule is usually put that the parties to Negotiable Instruments are not liable to immediate parties without Consideration, or that Consideration may be inquired into as between the immediate parties. That means as between a Maker and a Payee, or between one Indorser and his next indorsee. An instrument may be perfectly valid as to some parties, and invalid as to others, because of lack of Consideration. An Indorsee may not be able to sue..
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PLEASE NOTE, WE DO NOT SHIP TO DENMARK. New Book. Shipped from UK in 4 to 14 days. Established seller since 2000. Please note we cannot offer an expedited shipping service from the UK.