Morning journal and courier., 1893-08-31

this respect ss to certified checks. So the
having of checks certified constitutes pay
ment as to the persons drawing them.
Checks should be dated. II not dated
at all, and they do not contain any state
ment As to when they are to be paid, they
are never payable They may be ante or
| post dated, as we'll as dated on the dsy of
delivery. By being ante dated thsy NAV
be made to cover prior transactions. and
in q measure determine the relative rights
| of the parties to them, provided that no
| fraud is intended or done. Post-dstIng In
| the main determines date of payment.
When post-dsted SO as to fall due on Sun
day they are payable on the following
Monday.
Checks post-dated or maturing on legal
holidays should be presented the day fol-
lowing. When post-dsted checks are paid
before the dates mentioned the money
paid on them can be recovered. If
blanks are left for the dates, the hold
ers of checks are thereby authorized TO In
sert the true dates of delivery, but no
other dates, and If they insert any other
dates it makes the checks void. Changing
the date of checks without consent of the
drawers will do the same.
The presumption is that when checks
are drawn funds win be provided at the
banks on which they are drawn to meet
Il
be made within a reasonable time. If not
30 presented the holders will be charged
i with any consequent loss. Where psrsons
receiving checks and the banks on which
they are drawn are In the came place they
4 should be presented the came day, or, at
the least, the day sitter they are recsived.
| Where they are In different places the
checks must be mailed to some bank or
person at the place where payable before
Il ninGa nF Nha Aa.- Fnnf -gv-Ss stzEw
ceipt, and the latter must present them
before the close of banking hours on the
day following she receipt there No extra
time will De gained by holders depositing
checks In their own banks for collection.
After duly presenting checks ii Is also
the duty of the holders, If they are not
paid, to notify the drawers before the
close of the next secular day following the
| presentation and dishonor. No particular
form of notice Is required. Il msy be
written or verbal The principal cases in
which losses occur from failure TO use due
diligence in the collection of checks are
| where the banks on which they are drawn
fall In the meantime. If the banks con
tinue solvent the drawers will remain La
BILE to pay their checks for months at
least after they are drawn.
Presentation and notice of dishonor will
also be dispensed with where there are no
funds to pay checks and where the banks
| on which they are drawn suspend pay
ment before they can be presented, using
proper diligence. After receiving checks
they must be presented for payment, IN
less such presentation would be ueeless be-
fore the original claims can be sued on,
i for, by accepting checks, there ts an i'm
i piled agreement TO use that method Of pro-
curing the money for which they are
i drawn.
Where checks are negotiable and pass
by Endorsement or delivery, the same de-
4 gree of diligence will be required of each
Il person to whom they are Endorsed, In or
der to hold them, as Is required of origi-
nal payees to hold original drawers Of
checks. But by putting checks in circula-
/ ton the liability of the drawers cannot be
| prolonged. They must be presented with
Il in the same time by indorseeE as by pay
ees. Stll, where checks are passed from
hand to hand, one or more OF the latter
4 indoTsers might be he'd where earlier in
Il dorsers and the drawers would be released,
as by failure of the banks drawn upon.
Signatures to checks may be written
/ with pen and ink, or pencil; they msy also
be printed or stamped. Banks are only
4 required to see that the names of the
drawers of checks correspond precisely
Il with those of the personE to whose credit
| the deposits have been made. Who should
sign the checks of corporations viii be de.
termined by the state laws, by the char.
ters. by laws, or by the usage Of the par
tioulsr corporations. Every partner has
the right TO sign his firms name to checks,
unless prohibited by Its articles of CO part
nership. So also can sgents sign them
| when given express or implied authority.
AS usually drawn, payable to certain
persons named or order, checks are nego-
liable. A valuable consideration for them
will be presumed. They may be trans-
ferred by indorsement. or If payable TO
bearer, by mere delivery. Defenoes to
them existing between FIRST parties cannot
be raised against subsequent holders.