The Laws of Banking

This includes Live Birth Trusts (LBT), and "Accepted for value" (A4V)

The Laws of Banking

Postby The Freeman-on-the-Land known as Michael » Thu Apr 08, 2010 10:48 am

For your consideration:

A bill or note deposited as security or pledged to cover an advance or overdraft does not, as does a bill or note or cheque given for a debt, suspend the remedy for the debt. The two co-exist, run side by side, are in the true sense collateral.

Paget’s Laws of Banking, 1904.

Nothing, except the truth, is like it seems to be.

All Rights Reserved - Without Prejudice - Without Recourse - Non-Assumpsit
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