 | Alabama. Supreme Court - 1856 - 792 pages
...1536) 399 5. Drome, before acceptance, liable to aarnishmtnt. — A bill of exchange, until accepted, does not operate as an assignment of the funds in the hands of the drawee, which may therefore be attached by process of garnishment. (Expressly overruling Connoley v. Cheesborougb,... | |
 | Leone Levi - 1863 - 572 pages
...the acceptance the authority should be refused, inasmuch as the drawing does not operate ° acce!' ' as an assignment of the funds in the hands of the drawee (d). Where the drawee is found to be an infant, or a married woman, Infancy of drawee a just the holder... | |
 | Sir John Barnard Byles - 1874 - 860 pages
...Gibson, 5 Duer, 574 ; Buttei worth v. Peck, 5 Bosworth, 841. A bill of exchange does not, until accepted, operate as an assignment of the funds in the hands of the drawee. Sands v. Matthews, 27 Alabama, 309; К ¡in hull v. Donald, 20 Missouri, 577; Enfler v. Rice, Ibid.... | |
 | American Bar Association - 1887 - 460 pages
...it. LIABILITIES OF PARTIES. SEC. 53. (1) That a bill, of itself, does not operate as an assignment of funds in the hands of the drawee available for the payment thereof, and the drawee of a bill who does not accept as required by this act is not liable on the instrument, unless it expressly... | |
 | Isaac Grant Thompson - 1881 - 896 pages
...exchange." In Semd» v. Matthews, 27 Ala. 399, it was held that a bill of exchange, until accepted, does not operate as an assignment of the funds in the hands of the drawee. See Edw. on Bills, 172; Byles on Bills, 67, 96 and 191, and notes; 1 Pars, on Notes and Bills, 42,... | |
 | Sir Mackenzie Dalzell Edwin Stewart Chalmers - 1882 - 126 pages
...Liabilities of Parties. hands of 53.— (i.) A bill, of itself, does not operate as an assignment of funds in the hands of the drawee available for the payment thereof, and the drawee of a bill who does not accept as required by this Act is not liable as the instrument. This subsection... | |
 | India, Patrick Dunlop Shaw - 1882 - 362 pages
...paying it. Liabilities of Parties. 53. — (1.) A bill, of itself, does not operate as an assignment of funds in the hands of the drawee available for the payment thereof, and the drawee of a bill who does not accept as required by this Act is not liable on the instrument. This sub-section... | |
 | Institute of Bankers (Great Britain) - 1882 - 726 pages
...PARTIES. Funds in Hands of Drawee. 53. — (!•) A bill, of itself, does not operate as au assignment of funds in the hands of the drawee available for the payment thereof, and the drawee of a bill who does not accept as required by this Act is not liable on the instrument. This sub-section... | |
 | W. D. Thorburn - 1882 - 316 pages
...Liabilities of Parties. Funds in hands 53. (1.) A bill, of itself, does not operate as an assignment of funds in the hands of the drawee available for the payment thereof, and the drawee of a bill who does not accept as required by this Act is not liable on the instrument (a). This subsection... | |
 | 1882 - 688 pages
...56, sub-section 4, another rule of English law, that a bill shall not operate as an assignment of any funds in the hands of the drawee available for the payment thereof, and that the drawee who does not accept shall not be liable to any effect on the instrument. By the law... | |
| |
A bill of itself does not operate as an assignment of the funds in the hands of the drawee available for the payment thereof, and the drawee is not liable on the bill unless and until he accepts the same. 
