payor bank
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bank — / baŋk/ n: an organization for the custody, loan, or exchange of money, for the extension of credit, and for facilitating the transmission of funds branch bank: a banking facility that is a separate but dependent part of a chartered bank; esp: a… … Law dictionary
bank — 1. A bank is an institution, usually incorporated, whose business it is to receive money on deposit, cash checks or drafts, discount commercial paper, make loans, and issue promissory notes payable to bearer, known as bank notes. U.C.C. No. 1… … Black's law dictionary
bank — 1. A bank is an institution, usually incorporated, whose business it is to receive money on deposit, cash checks or drafts, discount commercial paper, make loans, and issue promissory notes payable to bearer, known as bank notes. U.C.C. No. 1… … Black's law dictionary
intermediary bank — A bank which receives a collection from another bank and forwards it to a third bank for collection. Any bank to which an item is transferred in course of collection except the depositary or payor bank. UCC § 4 105(c) … Ballentine's law dictionary
presenting bank — Any bank presenting an item except a payor bank. UCC § 4 105(e) … Ballentine's law dictionary
intermediary bank — Any bank to which an item is transferred in the course of collection except the depositary or payor U.C.C. No. 4 105(c) … Black's law dictionary
intermediary bank — Any bank to which an item is transferred in the course of collection except the depositary or payor U.C.C. No. 4 105(c) … Black's law dictionary
Collection item — A collection item (also called a noncash item) is an item presented to a bank for deposit that the bank will not, under its procedures, provisionally credit to the depositor s account or which the bank cannot (due to provisions or law or… … Wikipedia
wrongful dishonor — n: a wrongful refusal by a payor bank to honor an item that is properly payable a payor bank is liable to its customer for damages proximately caused by the wrongful dishonor of an item Uniform Commercial Code Merriam Webster’s Dictionary of Law … Law dictionary
Wrongful Dishonor — A bank s failure to honor a valid negotiable instrument such as a check or draft that has been presented to it for payment. If the check is valid and there are sufficient funds in the account to cover it, a bank s failure to honor it within the… … Investment dictionary
