Northern Wisconsin advertiser. [volume] (Wabeno, Wis.) 1898-1925, 1903-06-25
SOME SIMPLE FORMULAS THAT
SHOULD BE OBSERVED.
GREAT ACCURACY NEEDED
Omission of Slight Detail May Cause
Great Trouble and Loss-Early
Presentation Safe Rule to Follow
Causes That Render Checks
Void.

Bank checks possess many adVan-
tages for the conduct of business and
are used to proportionately great ex
tent. They are in nature but orders
for the payment of money and are pay
able in the order in which they are
presented. AS given in the usual
course of business they do not con-
stitute payment of the Indebtedness
for which they are given until paid.
Nor will the concurrent receiptings of
the debts for which they are given
change this. If they are not paid on
proper presentation resort may be had
to the original claims. The rule is
different in this respect as to certified
checks. So the having of the checks
certified constitutes payment as to the
persons drawing them.
Checks should be dated. II not
dated at all and they do not contain
any statement as to when they are to
be paid they are never payable. They
may be ante or post dated as well as
dated on the day of delivery BY
being antedated they may be made to
cover prior transactions and in a
measure determine the relative rights
of the parties to them, provided that
no fraud Is intended or done. Post.
dating in the main determines the
date Of payment.
When postdated so as to fall due on
Sunday they are payable on the fol
lowing Monday. Checks postdated or
maturing on legal holidays should be
presented the day following. When
postdated checks are paid before the
dates mentioned the money paid on
them can be recovered. II blanks are
left for the date the holders of checks
are thereby authorized to insert the
true dates of delivery, but no other
dates, and If they insert any other
date II makes the checks void.
Changing the date of checks without
consent of the drawers will do the
same.
The presumption is that when the
checks are drawn funds will be pro-
vided at the banks on which they are
drawn to meet them, but presentation
for payment must be made within
reasonable time. If not so presented
NhN hblhSio VIII pt ilidi sou Win diiS
consequent loss. When persons re-
ceiving checks and the banks on which
they are drawn are in the same place
they should be presented the same day
or at the latest the day after they are
received.
After duly presenting the checks it
is also the duty of the holder If they
are not paid to notify the drawers be-
fore the close of the next secular day
following the presentation and dis
honor No particular form of notice
is required. 1t may be written or
verbal
The principal case in which losses
occur from failure to use due diligence
in the collection of checks is where
the banks on which they are drawn
fail in the meantime.If the banks con-
tinue solvent the drawers will re-
main liable to pay their checks for
months at least after they are drawn.
Presentation and notice of dishonor
wi also be dispensed with where
there are no funds to pay checks and
where the banks on which they were
drawn suspend payment before they
can be presented, using proper dill
gence After receiving checks they
must be presented for payment, UNI
less such presentation would be use
less before the original claims can be
sued on, for, by accepting checks.
there is an implied agreement to use
that method of procuring the money
for which they are drawn.
When checks are negotiable and
pass by Endorsement or delivery the
same degree of diligence will be re-
quired of each person to whom they
are indorsed. in order to hold those
indorsing them, as is required of
original payees to hold original draw
ers of checks. But by putting checks
in circulation the liability of the
drawers cannot be prolonged. They
must be presented within the same
time by indorsees as by payees.