The Law of Banks and Banking Including Acceptance, Demand and Notice of Dishonor Upon Commercial Paper

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Excerpt from The Law of Banks and Banking Including Acceptance, Demand and Notice of Dishonor Upon Commercial Paper: With an Appendix Containing the Federal Statutes Applicable to National BanksBut this historical development shows another thing, and that is that the duty annexed to the banker's reception of the deposit is, as the courts are bound to recognize, wholly a customary duty, and is therefore a duty arising out of a one tom so old that it is law. It is, indeed, a customary duty so old that the mind of man runneth not to the contrary. It is therefore a duty arising out of law, not out of agreement, and is quasi er contractu. This most difficult subject in the law has lately received an able and long needed examination from those American jurists whose work has done so much for the law and whose labors have re¿ected so much renown upon our legal scholarship. This customary duty is enforced by the same action on the case that enforces the customary duty of the common carrier, where the duty was laid cen turies ago always as founded upon the custom of the realm. This consideration also proves to us how wanting in histor ical sense are those courts and text-writers who found the check-holder's right to sue upon a customary duty owed by the banker to the check-holder.'About the PublisherForgotten Books publishes hundreds of thousands of rare and classic books. Find more at www.forgottenbooks.comThis book is a reproduction of an important historical work. Forgotten Books uses state-of-the-art technology to digitally reconstruct the work, preserving the original format whilst repairing imperfections present in the aged copy. In rare cases, an imperfection in the original, such as a blemish or missing page, may be replicated in our edition. We do, however, repair the vast majority of imperfections successfully, any imperfections that remain are intentionally left to preserve the state of such historical works.