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Banking and Finance Law

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Journal

1933

Bank Collection Code

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Bills And Notes - Due Presentment Of Checks When Drawee Is In Same Town Jun 1933

Bills And Notes - Due Presentment Of Checks When Drawee Is In Same Town

Michigan Law Review

The plaintiff, payee of a check, received it on December 1st early enough to present it for payment on that day to the drawee bank which was located in the same town. Instead of presenting it to the drawee directly, he deposited the item in another local bank on December 2d. The latter presented it to the drawee through the clearing house on December 3d, but it was not paid, the drawee having closed its doors the same day. If the check had been presented on December 2d it would have been paid, since there were enough funds in the …