Elmore County Republican. [volume] (Mountain Home, Idaho) 1910-1915, 1913-06-07


he then gives notice Of this to the
person who drew 1t. that drawer Is
bound to pay to him the amount Of
the check. A check should be pre-
scented during business hours by 8
person entitled to receive money on
IL oh the next business day after re-
ceipt, at the latest. AS we noticed
In the case Of John MCGEE and War
rem Gordon, II the check Is not pre-
scented within this time, and the bank
falls, the loss must fall upon the per-
son who failed to present 1t. But II
The depositor suffers no loss Of de-
lay In presenting the check he can
not escape liability II 1t is dishon-
ored. Thus II Warren Gordon had
carelessly kept McGee's check several
days before presenting II for payment
and In the meantime MCGEE had with
drawn his account from the bank,
there being no failure. MCGEE would
have been bound to see that Gordon
received the amount Of the check.
II q check IL received drawn upon
a bank In another city 1t cannot, Of
course, be presented for payment on
that or the next business day, 30 II
Is sufficient II the check 10 put In
course OF collection on the business
day following It's receipt One should
be as prompt In giving notice to the
drawer Of the refusal Of the bank to|
pay check as to put 1t In course Of
collection.
A check that Is drawn payable to1
Bearer" may be transferred simply
by delivery, handing It from one tc1
another. II the check Is drawn pay
able to John jones'" John Jones
may transfer 1t by endorsement
that is. by writing his name on the
back. II he indorses in blank he
simply writes his name John Jones"
across the end of the back of the
check, when it is payable to anyone
who may hold It. II John Jones
should write PAY to the order OF
Sam Smith. John Jones'" Sam Smith
alone would then have the right to
present it for payment or transfer
1t by further Endorsement. The blank
Endorsement Of the person present.
Ing the check at the bank IL, OF
course, sufficient to transfer the leg
al rights In the check to the bank.
One who takes a check from an
other usually requires that he in
dorse 1t even though 1t be already in
dorsed in blank or payable to bear
er. This Is because the person who
indorses a check to another Is under
stood in law to make certain pro-
misses to the person to whom he In
dorses the check even though he does
nothing further than write his name
on the check. The indorser engages
that when the check is properly pre-
scented at the bank it will be paid
and II 1t Is not paid and notice
given to him he will pay the amount
to the person to whom he transfer
red the check or any other who may
subsequently receive 1t by proper in.
dorsement. Thus when you indorse q
check you make that promise to a..
future holders Of the check. II you
are compelled to make 1t good you
may have recourse in turning against
those who transferred the check to
you and whose names appear on the
back az endorsers. or ON the face
as signers.
While the bank owes a duty to de-
position to pay his proper check
drawn aginst an adequate deposit,
the banker 10 not bound to pay any
check as against holder Of it. The
rights Of the holder are against the
signer Of the check. and those who
transferred 1t to him. But II bank
certifies . check 1t becomes bound
to pay 1t to proper holder. Cert
fication OF q check Is secured by pre-
senting 1t to the cashier Of the bank
against which 1t 10 drawn. Upon de-
termining that tae s,gner has funds
sufficient to cover the check on q
post. and seeing to 1t that they are
set aside for that purpose. the cash
Ter marks Certified" ac.oss the
face Of the check and adds his off,
cial signature. The funds 70 cover
this check are thea Withdrawn from
the control Of the depositor who sis.
ed the check and he may not stop
payment Of 1t. or Withdraw The fun4
to cover 1t. The bank becomes
solutely bound to pay it, and the
check 10 AZ good a. the bank. Us
ually tn person who signs q check
has It certified in order that one u
whom he would give 1t in payment
OF an obligation will be more ready
to receive 1t. His liabilities on t.
check remain the same II he has 1t
certified. But II one who holds the
check. other than the para0n who