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The Legal Relationship Between The Bank And Its Safe Deposit Customer, Richard A. Lord
The Legal Relationship Between The Bank And Its Safe Deposit Customer, Richard A. Lord
Richard A. Lord
Today in the United States, virtually every commercial bank makes safe deposit services available for a small fee, either through a department of the bank or through a subsidiary or affiliated safe deposit company. Never before has the demand for safe deposit services been so great. More than ever before, Americans are turning to safe deposit companies and bank safe deposit vaults for the storage of their assets. This increased demand has caused increased concern among legislators and bankers about whether to regulate further the day-to-day affairs of the safe deposit business. Increased use of safe deposit vaults and boxes …
The Omnibus Clause Of U.C.C. Section 4-303(1)(D): A Holder's Sword Or A Payor's Shield?, Charles C. Lewis
The Omnibus Clause Of U.C.C. Section 4-303(1)(D): A Holder's Sword Or A Payor's Shield?, Charles C. Lewis
Charles C. Lewis
In the years after the promulgation of the 1952 official text, particularly as the New York Law Revision Commission studied it, and as more and more states either studied the Code for enactment or actually enacted it during the late 1950's and early 1960's, law professors, practicing attorneys and bank attorneys commented on each provision of it. Section 4-303(1)(d) and its omnibus clause did not escape this scrutiny. Many of the commentators, however, did no more than describe the purpose of section 4-303's priority rules, point out that section 4-213(1)(c), a remarkably similar section in the Code, did not contain …