Court Opinion

ID: 9768871
Source: CourtListenerOpinion
Date Created: 2023-08-29 13:53:32.739341+00
Date Added: 2024-06-11T13:55:18.024931
License: Public Domain

APPENDIX
WHEREAS, Abrams Centre National Bank is desirous of effecting daily clearing house settlements in accordance with the Constitution and By-Laws of the Dallas Clearing House Association, and Mercantile National Bank at Dallas is willing to lend its assistance toward effecting such purpose to the extent of paying to the Dallas Clearing House Association the amount of all checks, drafts, or orders for the payment of money drawn upon the Abrams Centre National Bank which are presented to said Dallas Clearing House Association by its several members and by the Federal Reserve Bank of Dallas; and,
WHEREAS, it is mutually profitable to both the Abrams Centre National Bank and the Mercantile National Bank at Dallas for Mercantile National Bank at Dallas to pay to the Dallas Clearing House Association the amount of all checks, drafts, or orders for the payment of money drawn upon Abrams Centre National Bank which are presented to said Dallas Clearing House Association by its several members and by the Federal Reserve Bank of Dallas, for Abrams Centre National Bank to repay to and hold Mercantile National Bank at Dallas harmless from all such payments made by Mercantile National Bank at Dallas for the benefit of Abrams Centre National Bank; and,
WHEREAS, the parties hereto desire that the several members of the Dallas Clearing House Association and the Federal Reserve Bank of Dallas present such checks, drafts, or orders for payment of money drawn upon Abrams Centre National Bank as may be desired, through the Dallas Clearing House Association:
NOW, THEREFORE, KNOW ALL MEN BY THESE PRESENTS: That in consideration of the promises and mutual benefits and considerations passing from each to the other, it is mutually agreed by and between Abrams Centre National Bank and Mercantile National Bank at Dallas as follows:
 1. Mercantile National Bank at Dallas agrees that all checks, drafts, or orders for the payment of money drawn upon Abrams Centre National Bank which come into the possession of and are cleared through the Dallas Clearing House Association may be debited against the account of Mercantile National Bank at Dallas, Dallas, Texas, as fully and in all respects the same as though said checks, drafts, or orders for the payment of money were drawn against said Mercantile National Bank at Dallas, Dallas, Texas.
 2. Abrams Centre National Bank agrees to pay Mercantile National Bank at Dallas, on demand at its banking house in Dallas, Texas, all such sums as may be so debited against the account of Mercantile National Bank at Dallas. Said payment may be effected by debiting the account of Abrams Centre National Bank carried with Mercantile National Bank at Dallas. Abrams Centre National Bank further agrees and binds itself to hold said Mercantile National Bank at Dallas safe, whole and harmless against any and all losses, damage or expense which said Mercantile National Bank at Dallas may suffer or incur by reason of any and all checks, drafts, and other items drawn on said Abrams Centre National Bank and presented through and coming into the possessing of Dallas Clearing House Association or any of its member banks or *Page 823
 the Federal Reserve Bank of Dallas, and hereby agrees that its liability to Mercantile National Bank at Dallas shall be governed in accordance with, and subject to, the rules, regulations, and Constitution and By-Laws of the Dallas Clearing House Association and general banking practice and customs.