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Bank note |
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BANK NOTE, contracts. A bank note resembles a common promissory note, (q.
v.) issued by a bank or corporation authorized to act as a bank. It is in
fact a promissory note, but such notes are not, for many purposes, to be
considered as mere securities for money; but are treated as money, in the
ordinary course and transactions of business, by the general consent of
mankind and, on payment of them, when a receipt is required, the receipts
are always given as for money, not as for securities or notes. 1 Burr. R.
457; 12 John. R. 200; 1 John. Ch. R. 231; 9 John. R. 120; 19 John. 144; 1
Sch. & Lef. 318, 319; 11 Ves. 662; 1 Roper, Leg. 3; 1 Ham. R. 189, 524; 15
Pick. 177; 5 G. & John. 58; 3 Hawks, 328; 5 J. J. Marsh. 643.
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