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An Act for amending the Law relating to Crossed Cheques. [15th August, 1876.]
Be it enacted by the Queen's most Excellent Majesty, by and with the advice and consent of the Lords Spiritual and Temporal, and Commons, in this present Parliament assembled, and by the authority of the same, as follows:
1. This Act may be cited as The Crossed Cheques Act, 1876. Short title. 2. The Acts described in the schedule to this Act are Repeal of Acts in hereby repealed, but this repeal shall not affect any right, schedule. interest, or liability acquired or accrued before the passing of this Act.
3. In this Act
Cheque" means a draft or order on a banker payable to tion.
"Banker" includes persons or a corporation or company
acting as bankers,
4. Where a cheque bears across its face an addition of the General and words "and company," or any abbreviation thereof, between special two parallel transverse lines, or of two parallel transverse lines simply, and either with or without the words " not negotiable," that addition shall be deemed a crossing, and the cheque shall be deemed to be crossed generally.
Where a cheque bears across its face an addition of the name of a banker, either with or without the words "not negotiable," that addition shall be deemed a crossing, and the cheque shall be deemed to be crossed specially, and to be crossed to that banker.
5. Where a cheque is uncrossed, a lawful holder may cross Crossing after issue. it generally or specially.
Where a cheque is crossed generally, a lawful holder may cross it specially.
Where a cheque is crossed generally or specially, a lawful holder may add the words "not negotiable."
Where a cheque is crossed specially, the banker on whom it is drawn shall not pay it otherwise than to the banker to whom it is crossed, or to his agent for collection.
Where a cheque is crossed specially, the banker to whom it is crossed may again cross it specially to another banker, his agent for collection.
6. A crossing authorised by this Act shall be deemed a Crossing material part of the cheque, and it shall not be lawful for material any person to obliterate or, except as authorised by this Act, cheque. to add to or alter the crossing.
7. Where a cheque is crossed generally, the banker on Payment to whom it is drawn shall not pay it otherwise than to a banker.
8. Where a cheque is crossed specially to more than one crossed spe- banker, except when crossed to an agent for the purpose of collection, the banker on whom it is drawn shall refuse payment thereof.
cially more than once
not to be paid. Protection of banker
cheque crossed specially.
contrary to provisions of Act to be
liable to lawful
9. Where the banker on whom a crossed cheque is drawi has in good faith and without negligence paid such cheque, if crossed generally to a banker, and if crossed specially to the banker to whom it is crossed, or his agent for collection being a banker, the banker paying the cheque and (in case such cheque has come to the hands of the payee) the drawer thereof shall respectively be entitled to the same rights, and be placed in the same position, in all respects, as they would respectively have been entitled to and have been placed in if the amount of the cheque had been paid to and received by the true owner thereof.
11. Where a cheque is presented for payment, which does banker from not at the time of presentation appear to be crossed, or to responsibility in have had a crossing which has been obliterated, or to have some cases. been added to or altered otherwise than as authorised by this Act, a banker paying the cheque, in good faith and without negligence, shall not be responsible or incur any liability, nor shall the payment be questioned, by reason of the cheque having been crossed, or of the crossing having been obliterated, or having been added to or altered otherwise than as authorised by this Act, and of payment being made otherwise than to a banker or the banker to whom the cheque is or was crossed, or to his agent for collection being a banker (as the case may be).
12. A person taking a cheque crossed generally or specially, bearing in either case the words "not negotiable," shall not have and shall not be capable of giving a better title to the cheque than that which the person from whom he took it had.
Title of holder of
cheque crossed specially.
10. Any banker paying a cheque crossed generally otherwise than to a banker, or a cheque crossed specially otherwise than to the banker to whom the same shall be crossed, or his agent for collection being a banker, shall be liable to the true owner of the cheque for any loss he may sustain owing to the cheque having been so paid.
But a banker who has in good faith and without negligence received payment for a customer of a cheque crossed gene-rally or specially to himself shall not, in case the title to the cheque proves defective, incur any liability to the true owner of the cheque by reason only of having received such pay
Acceptance, see "Forgery."
Accounts, number of, in which funded national debt is
Acts of Parliament relating to Bank of England
of issue, may reissue notes under £100
of issue, loses privilege by increasing partners
its advantages in collection of public revenue
fund into bank and issue departments
Bank (of England)—continued
its circulation of notes
bound to buy all standard gold offered
its rules as to deposits, loans, and discounts
its London agency business
nature of his business
how far bound to obey customer's order
duty as to money deposited for specific purpose
bound by credit given in pass-book
liability of, for dishonouring cheque
or bankruptcy must make annual returns of name, residence, &c.
. 21, 28
. 22, 23
28, 29 . 29, 30
31, 32, 33
penny stamp on
invalid after drawer's death
custom of marking
Ci ulation see "Notes."
Cheque (if payable to order, must be endorsed by the person
to whom it is payable.) legal nature of
how its business is done
economy effected by .