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The Elements of Banking

The Elements of Banking


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Purchase of this book includes free trial access to www.million-books.com where you can read more than a million books for free. This is an OCR edition with typos. Excerpt from book: drst and last emptio rei speratce, which all such bargains are presumed to be in cases of doubt. The cession of a Right Of Action being legal in the Roman law, the Right of A to receive a debt due by B may be sold to C. Thus we see that a Right Of Action?which is, as we shall show hereafter, what is termed a Credit or a Debt in Law, Commerce, and Economics?is expressly included under the title Wealth, Goods, and Merchandise, in Roman Law. It is exactly the same in every system of Law. It is one of the elementary principles of law that a Right Of Action is a species of Property. Thus Mr. Williams says: ? Choses-in- action having now become assignable, became an important kind of personal Property.? A legal chose-in-action constitutes a valuable personal Property. So also Mr. Justice Byles, in speaking of Bills and Notes, which are Rights of action recorded on paper, says: ? This species of Property is now in aggregate value inferior only to the land or Funded Debt of the kingdom. This sentence was written more than forty years ago, arid we may safely assert that the mass of Credit in circulation at the present time greatly exceeds the Funded Debt. So also a Right Of Action is included under the term goods and chattels or effects in an Act of Parliament. We have said enough now to show that a Right Of Action, or a Credit, or a Debt, is included under the title of Wealth, Goods and Chattels, Property, or Merchandise, because it may be bought and sold, in every system of law. As we shall have to explain the nature of this species of property at greater length hereafter, we shall say no more about it here, so as not to say the same things twice over. All that we want to impress upon the reader at present is, that Rights of all sorts are a distinct order of We...


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Product Details
  • ISBN-13: 9780217384100
  • Publisher: General Books
  • Publisher Imprint: General Books
  • Height: 246 mm
  • No of Pages: 106
  • Spine Width: 6 mm
  • Width: 189 mm
  • ISBN-10: 0217384102
  • Publisher Date: 11 Jan 2012
  • Binding: Paperback
  • Language: English
  • Returnable: N
  • Weight: 204 gr


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