St. Tammany farmer. [volume] (Covington, La.) 1874-current, 1884-12-13
Bank Checks.

At late meeting of the West Mich
loan Farmers Club, Judge Parrish
talked about the Bank Check. He
chose this subject because farmers fire.
Guently receive checks on the sale of
their products, and are sometimes
losers thereby, by reason of not know
ing how to handle them.
Some years ago friend of his sold
his farm for $1,000, one-hait in cash
and the balance on time. For the time
payment he took mortgage on the
farm, payable in one, two and three
wears. and for the cash payment he
took check on private banking in
stitution. Not needing the money for
immediate use. and deeming everything
perfectly SAFE or perhaps not knowing
his duty respecting the check, he put
it in his pocket and kept it two weeks
before he thought of presenting it to
the bankers. although he resided in
their immediate neighborhood. Mean
while the bankers had failed, and the
drawer of the check had died insolvent
| The consequence was his friend lost
the amount Of the check, besides some
money in litigation. This loss arose
| simply from the farmers neglect to
present the check in due time. True.
he might have lost the money, if he had
| obtained it upon the check. in other
| WAYS. but in this instance the loss was
| purely from his neglect in not obServ-
ing the law applicable to the presenta-
ton of bank checks. The farmer not
only lost, but it was also loss to the
estate of the drawer of the check.
If a man receives a check upon d
bank in payment for produce. or a
farm, or any other obligation, it is his
duty to present it for payment within 4
reasonable time. If he does not, and
the drawer of the check suffers loss,
there is no remedy.
The question, what is a reasonable
time in which check should be pre-
sented for payment, depends upon cir
cumstances 1t has been held that
when all the parties to a check are resi-
dents of the same town or city, 4 delay
of eight DAYS is sufficient to discharge
the drawer from all liability. at least &c
the extent of his loss thereby. And in
such a case, demand made before the
close of business hours of the day sue
ceeding that on which payment might
have been first legally demanded ha:
kSeen uniformly considered demand
MAIDS within a reasonable time. Il
payment is. refused, notice should bt
Immediately given to the drawer of thu
check.
When payment of check upon /.
bank is refused, the resource of tn,
holder is against the drawer and no
against the bank, even though tn
bank, at the time the check was pre-
sented for payment, was perfectly solv
: ent and held funds of the drawer suifi
cient to meet the check: so that checl
! is nothing more than the personal oh
legation of the drawer, as of a promis
! sory note or bill of exchange. TIL
; drawer is treated in some sort as tn
principal debtor, and he is not di:
charged by any neglect of the holde
in making due presentment of tn
check, or in giving notice of the dis
8 honor. unless he suffered some loss @
injury thereby, and then only pro tantt
1.-THE drawer of the check have n
!, funds in the bank to meet it, it is
- fraud, and the holder can sustain a
= action upon it against the drawer wit
= presentation or notice.
q The check may be revoked by tn
! drawer at any time before it is paid {
T accepted by the banker. He may dra
v out all he has on deposit. His death
= revocation. No banker would vel
/ ture to pay check after notice of tt
q death of the drawer. If he did, /
d might be called upon by the administr:
II tor to pay it again. So, if the drawt
# should before presentation becom
e bankrupt.
l. In a case in Michigan, where one
h the point of death drew his check upo
% the bank in which he had money, bein
e all the money he had, with direction
b to the payee to draw the money. defra
q the funeral expenses out OF it, and
d pay the balance to his heirs, and ii
n check was not paid or accepted by Il
n bank before the death of the drawer,
10 was held that the check did not opera
'. as an assignment of the fund, and tn;
it the bank was not liable upon it to tt
10 payee; that the check, with the who
= arrangement, was revoked by the deal
of the drawer, and the bank, aft
notice of the death of the drawer al
of the arrangement upon which ii
check was given, could not have pa
IL the check without risk of being ara
IS called upon to pay an administrator
ol the estate. Without acceptance by Il
g bank, or some special undertaking c
= its part, the bank can not be held lab
a. upon check There is no privitv
"a contract between the holder and Il
al bank, and if the money is not paid upe
oI the presentation of the check. the bar
cs is only accountable to the drawer. "
e are not presumed to take an unaccept,
le check, relying upon the credit of t
III bank, but upon that of the party wi
> draws the check.-Prairie Farmer.
Nv Painting Tin Re0.S.