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Pausing a moment, she added with a sigh: "As to predictions, je suis payee pour y croire, I told you, I think, that Grisha prophesied the very day and hour of poor Papa's death?" "Why did you call my attention to his feet? I looked at them, and now can eat nothing more."
It was made payable to a person named, "or to the Bringer of this Byll." Bills of exchange were first used only for the benefit of a specified payee, but it was not long before the element of negotiability was added to foreign bills, which, thus perfected, became at once the indispensable instruments of commerce which they now are.
Counting it over, the payee found it five francs short. Attention being directed to this error the manager became more apologetic and more explanatory than ever, and supplied the deficiency with a shiny new five-franc piece from his own pocket.
A check payable to "bearer" may be negotiated by any one. When such checks are presented by a stranger, at the bank of the maker, the paying teller always insists that the stranger be identified. Never make a check payable to "bearer" if it can be avoided. Sometimes checks are dated ahead, for reasons satisfactory to the maker and payee.
Going to the C. and C. Bank, Temple Bar branch, to take stock of Vivie's affairs, he found a Thousand pounds had been paid in to her current account. Ascertaining the name of the payee to be L.M. Praed, he hurried off at the first opportunity to Praed's studio.
The Direction G'entrale referred to a formal letter of the solicitors of the estate of Hugh Fraser Johnstone, deceased, totally repudiating the four unaccepted drafts of five thousand pounds sterling each, and legally notifying the Direction of an intended suit to recover from the payee and the in-dorser, the first draft for five thousand pounds paid before Executor Andrew Fraser had filed his objections with Messrs.
The maker in this case is a friend who loans his name. As there was no value received such a note could not be collected by the payee. But if it passes into the hands of a third party, who endorses it, then the maker of the note can be compelled to pay. A note may be lost or stolen. The losing of a note does not release the maker from payment of the full amount on the date and at the place named.
The cheque, you see, was drawn on November 12th, and it was presented here as soon as ever the doors were opened next morning and before any of us knew of what had happened during the night, and it was accordingly honoured in the usual way." "The payee, of course, was known?" observed Mr. Halfpenny.
A promissory note made payable to a partnership under a certain name was altered by the maker and the payee without the knowledge of the surety so as to be payable to the same parties under another name and the court held it to be immaterial.
The "drawer" is the one who makes the check. The "payee" is the one for whom the check is made. In making a check, the best plan is to fill out the stub first, and from the data on it make out the check. This tends to accuracy. Be sure to number your check, beginning with I. Be sure that the number on the stub is the same as on the check.
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