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A   Work on State Banks and Bank Officers; Including Sections of the Constitution and Codes of California Relating to Banks and Banking, with Citation

A Work on State Banks and Bank Officers; Including Sections of the Constitution and Codes of California Relating to Banks and Banking, with Citation

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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.1898 Excerpt: ... Syllabi of Important Cases, TAKEN BY PERMISSION FROM RHODES' JOURNAL OF BANKING. Silver Coins--Legal Tender Quality: So long as a genuine silver coin is worn only by natural abrasion, is not appreciably diminished in weight, and retains the appearance of a coin duly issued from the mint, it is a legal tender for its original value. Jersey City & B. B. Co. v. Morgan. Supreme Court of the United States, December 23, 1895. Certificate Of Payment Of Capital Stock--Failure Of Bank To File No Defense In Action On Note: In an action upon a note by a bank organized under the laws of New York the defendant cannot set up as a defense that the bank has not complied with the requirements of the law in regard to filing with the county clerk a certificate of the payment of capital stock. Bank of Port Jervis v. Darling et al. Supreme Court of New York, December 2, 1895. Clearing House Agent--Liability Of Guaranty--NaTional Bank: Where a bank acting as clearing house agent for another bank has agreed to hold itself liable for all checks drawn upon and certified by that bank, it may recover from the drawer the amount of a certified check which it has been compelled to pay by reason of the insolvency of the bank for which it was clearing. The drawer cannot set up as a defense that an agreement of this kind made by a national bank is ultra vires. Voltz et al v. National Bank of Illinois. Supreme Court of Illinois, October 11, 1895. Directors--Representation That Bank Is Solvent--LiaBility: Where a depositor, relying upon the assurance of an officer and director that the bank is solvent, allows his deposit to remain with the bank, and the bank is in fact insolvent at the time, he may recover the amount of his damages from such director. It is immaterial whether such officer an...