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Counter Check
A cheque, or check (American English; American and British English spelling differences, see spelling differences) is a document that orders a bank (or credit union) to pay a specific amount of money from a person's account to the person in whose name the cheque has been issued. The person writing the cheque, known as the ''Payor, drawer'', has a transactional account, transaction banking account (often called a current, cheque, chequing, checking, or share draft account) where the money is held. The drawer writes various details including the monetary amount, date, and a payee on the cheque, and signs it, ordering their bank, known as the ''drawee'', to pay the amount of money stated to the payee. Although forms of cheques have been in use since ancient times and at least since the 9th century, they became a highly popular non-cash method for making payments during the 20th century and usage of cheques peaked. By the second half of the 20th century, as cheque processing b ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Negotiable Instrument
A negotiable instrument is a document guaranteeing the payment of a specific amount of money, either on demand, or at a set time, whose payer is usually named on the document. More specifically, it is a document contemplated by or consisting of a contract, which promises the payment of money without condition, which may be paid either on demand or at a future date. The term has different meanings depending on the use of the term as it is used in the application of different laws, and depending in which country and context it is used. Concept of negotiability William Searle Holdsworth defines the concept of negotiability as follows: #Negotiable instruments are transferable under the following circumstances: they are transferable by delivery where they are made payable to the bearer, they are transferable by delivery and endorsement where they are made payable to order. #Consideration is presumed. #The transferee acquires a good title, even though the transferor had a defective or n ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Bank Of England
The Bank of England is the central bank of the United Kingdom and the model on which most modern central banks have been based. Established in 1694 to act as the English Government's banker, and still one of the bankers for the Government of the United Kingdom, it is the world's eighth-oldest bank. It was privately owned by stockholders from its foundation in 1694 until it was nationalised in 1946 by the Attlee ministry. The Bank became an independent public organisation in 1998, wholly owned by the Treasury Solicitor on behalf of the government, with a mandate to support the economic policies of the government of the day, but independence in maintaining price stability. The Bank is one of eight banks authorised to issue banknotes in the United Kingdom, has a monopoly on the issue of banknotes in England and Wales, and regulates the issue of banknotes by commercial banks in Scotland and Northern Ireland. The Bank's Monetary Policy Committee has devolved responsibility for ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Exchequer
In the civil service of the United Kingdom, His Majesty’s Exchequer, or just the Exchequer, is the accounting process of central government and the government's ''current account'' (i.e., money held from taxation and other government revenues) in the Consolidated Fund. It can be found used in various financial documents including the latest departmental and agency annual accounts. It was the name of a British government department responsible for the collection and the management of taxes and revenues; of making payments on behalf of the sovereign and auditing official accounts. It also developed a judicial role along with its accountancy responsibilities and tried legal cases relating to revenue. Similar offices were later created in Normandy around 1180, in Scotland around 1200 and in Ireland in 1210. Etymology The Exchequer was named after a table used to perform calculations for taxes and goods in the medieval period. According to the ''Dialogus de Scaccario'' ('Dial ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Commonwealth Of Nations
The Commonwealth of Nations, simply referred to as the Commonwealth, is a political association of 56 member states, the vast majority of which are former territories of the British Empire. The chief institutions of the organisation are the Commonwealth Secretariat, which focuses on intergovernmental aspects, and the Commonwealth Foundation, which focuses on non-governmental relations amongst member states. Numerous organisations are associated with and operate within the Commonwealth. The Commonwealth dates back to the first half of the 20th century with the decolonisation of the British Empire through increased self-governance of its territories. It was originally created as the British Commonwealth of Nations through the Balfour Declaration at the 1926 Imperial Conference, and formalised by the United Kingdom through the Statute of Westminster in 1931. The current Commonwealth of Nations was formally constituted by the London Declaration in 1949, which modernised the comm ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Oxford University Press
Oxford University Press (OUP) is the university press of the University of Oxford. It is the largest university press in the world, and its printing history dates back to the 1480s. Having been officially granted the legal right to print books by decree in 1586, it is the second oldest university press after Cambridge University Press. It is a department of the University of Oxford and is governed by a group of 15 academics known as the Delegates of the Press, who are appointed by the vice-chancellor of the University of Oxford. The Delegates of the Press are led by the Secretary to the Delegates, who serves as OUP's chief executive and as its major representative on other university bodies. Oxford University Press has had a similar governance structure since the 17th century. The press is located on Walton Street, Oxford, opposite Somerville College, in the inner suburb of Jericho. For the last 500 years, OUP has primarily focused on the publication of pedagogical texts and ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
James William Gilbart
James William Gilbart (1794–1863) was an English banker and author. Life He was the General Manager of the London and Westminster Bank 1833–1859, one of the first joint-stock banks in England. His work and frequently updated books such as his ''Practical Treatise on Banking'' (1827) were eventually widely adopted to improve the British banking systems and laid the foundations of the modern publicly owned retail bank and Building Society movement. It was Gilbart who standardised the modern spelling of the word ''cheque'' in his book ''Practical Treatise on Banking'', and formalised this in subsequent legislation. Some claim that the spelling was derived from early notes issued by Goldsmiths of London. Gilbart was made a Fellow of the Royal Society in 1846. He never married, and devoted much of his life to banking, writing, and his societies. He died at his home at Brompton Crescent, London and is buried in a Gothic Revival Grade II-listed mausoleum at West Norwood Cemete ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Bearer Instrument
A bearer instrument is a document that entitles the holder of the document to rights of ownership or title to the underlying property, such as shares or bonds. Unlike normal registered instruments, no record is kept of who owns bearer instruments or of transactions involving transfer of ownership, enabling the owner, as well as a purchaser, to deal with the property anonymously. Whoever physically holds the bearer document is assumed to be the owner of the property, and the rights arising therefrom, such as dividends. Bearer instruments are used especially by investors and corporate officers who wish to retain anonymity. The OECD in a 2003 report concluded that the use of bearer shares is "perhaps the single most important (and perhaps the most widely used) mechanism" to protect the anonymity of a ship's beneficial owner.OECD 2003, p. 8. Physically possessing a bearer share accords ownership of the corporation, which in turn owns the asset. There is no requirement for reporting th ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Promissory Note
A promissory note, sometimes referred to as a note payable, is a legal instrument (more particularly, a financing instrument and a debt instrument), in which one party (the ''maker'' or ''issuer'') promises in writing to pay a determinate sum of money to the other (the ''payee''), either at a fixed or determinable future time or on demand of the payee, under specific terms and conditions. Overview The terms of a note usually include the principal amount, the interest rate if any, the parties, the date, the terms of repayment (which could include interest) and the maturity date. Sometimes, provisions are included concerning the payee's rights in the event of a default, which may include foreclosure of the maker's assets. In foreclosures and contract breaches, promissory notes under CPLR 5001 allow creditors to recover prejudgement interest from the date interest is due until liability is established. For loans between individuals, writing and signing a promissory note are often ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Banknote
A banknote—also called a bill (North American English), paper money, or simply a note—is a type of negotiable instrument, negotiable promissory note, made by a bank or other licensed authority, payable to the bearer on demand. Banknotes were originally issued by commercial banks, which were legally required to Redemption value, redeem the notes for legal tender (usually gold or silver coin) when presented to the chief cashier of the originating bank. These commercial banknotes only traded at face value in the market served by the issuing bank. Commercial banknotes have primarily been replaced by national banknotes issued by central banks or monetary authority, monetary authorities. National banknotes are often – but not always – legal tender, meaning that courts of law are required to recognize them as satisfactory payment of money debts. Historically, banks sought to ensure that they could always pay customers in coins when they presented banknotes for payment. This p ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Negotiable Instrument
A negotiable instrument is a document guaranteeing the payment of a specific amount of money, either on demand, or at a set time, whose payer is usually named on the document. More specifically, it is a document contemplated by or consisting of a contract, which promises the payment of money without condition, which may be paid either on demand or at a future date. The term has different meanings depending on the use of the term as it is used in the application of different laws, and depending in which country and context it is used. Concept of negotiability William Searle Holdsworth defines the concept of negotiability as follows: #Negotiable instruments are transferable under the following circumstances: they are transferable by delivery where they are made payable to the bearer, they are transferable by delivery and endorsement where they are made payable to order. #Consideration is presumed. #The transferee acquires a good title, even though the transferor had a defective or n ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Bearer Instrument
A bearer instrument is a document that entitles the holder of the document to rights of ownership or title to the underlying property, such as shares or bonds. Unlike normal registered instruments, no record is kept of who owns bearer instruments or of transactions involving transfer of ownership, enabling the owner, as well as a purchaser, to deal with the property anonymously. Whoever physically holds the bearer document is assumed to be the owner of the property, and the rights arising therefrom, such as dividends. Bearer instruments are used especially by investors and corporate officers who wish to retain anonymity. The OECD in a 2003 report concluded that the use of bearer shares is "perhaps the single most important (and perhaps the most widely used) mechanism" to protect the anonymity of a ship's beneficial owner.OECD 2003, p. 8. Physically possessing a bearer share accords ownership of the corporation, which in turn owns the asset. There is no requirement for reporting th ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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