You are on page 1of 6

Banks ACCEPT Loans As DEPOSITS Of Money The ONLY thing banks loan to any transaction is their NAME EXECUTED

NOTE defined: Promissory note, which has been signed and delivered. Blacks Law Dictionary Sixth Edition (page 567) Your consideration, the promissory note (money) signed and delivered (executed) at closing. Making you bona fide purchaser for value. Executio est finis et fructus legis defined: Execution is the end and fruit of the law. Blacks Law Dictionary Sixth Edition (page 568) PURCHASER FOR VALUE defined: One who pays consideration for property or goods bought. Black's Law Dictionary Sixth Edition (page 1236) PURCHASER OF A NOTE OR BILL defined: The person who buys a promissory note or bill of exchange from the holder without his indorsement. Black's Law Dictionary Sixth Edition (page 1236) ORDER defined: contracts. An indorsement or short writing put upon the back of a negotiable bill or note, for the purpose of passing the title to it, and making it payable to another person. 2. When a bill or note is payable to order, which is generally expressed by this formula, "to A B, or order, "or" to the order of A B," in this case the payee, A B may either receive the money secured by such instrument, or by his order, which is generally done by a simple indorsement, (q.v.) pass the right to receive it to another. But a bill or note wanting these words, although not negotiable, does not lose the general qualities of such instruments. 6 T. R. 123; 6 Taunt. 328; Russ. & Ry. C. C. 300; 3 Caines, 137; 9 John. 217. Vide Bill of Exchange; Indorsement. 3. An informal bill of exchange or a paper which requires one person to pay or deliver to another goods on account of the maker to a third party, is called an order. Banks ONLY return a deposit (loan) you have previously made. Which would give rise to the true purpose of a bank as a depositary Derativa potestas non potest esse major primitiva. The power which is derived cannot be greater than that from which it is derived. Jus ad rem; jus in re defined: A right to a thing; a right in a thing. Affirmati, non neganti incumbit probation defined: The proof lies upon him who affirms, not on him who denies. Currit tempus contra desides et sui juris contemptores defined: Time runs against the slothful and those who neglect their rights. Cujus per errorem dati repetitio est, ejus consulto dati donatio est defined: Whoever pays by mistake what he does not owe, may recover it back; but he who pays, knowing he owes nothing; is presumed to give. BANK NOTE defined: A promissory note issued by a bank or banker authorized to do so, payable to bearer on demand, and intended to circulate as money. Townsend v. People, 4 Ill. 328; Low v. People, 2 Park.Cr.R. (N.Y.) 37. See, also, Banker's note. In the early history of banks, their notes were generally denominated bills of credit. Briscoe

v. Bank of the Commonwealth of Kentucky, 11 Pet. 257, 9 L.Ed. 709. Blacks Law Dictionary Revised Fourth Edition (page 184) BANKABLE PAPER defined: In mercantile law. Notes, checks, bank bills, drafts, and other securities for money, received as cash by the banks. The term does not necessarily mean discountable paper, but paper of such high credit that, if the time of payment was reasonable and the banks had loanable funds, they would ordinarily discount it. Edward P. Allis Co. v. Madison Electric Light, Heat & Power Co., 9 S.D. 459, 70 N.W. 650, 652. National bank notes are received as bankable money without regard to the locality of the bank issuing them. U.S.Rev.Stat. 5133 (12 USCA 21); Veazie Bank v. Fen- no, 8 Wall. 533, 19 L.Ed. 482. Blacks Law Dictionary Revised Fourth Edition (page 185) ORIGINAL defined: contracts, practice, evidence. An authentic instrument of something, and which is to serve as a model or example to be copied or imitated. It also means first, or not deriving any authority from any other source as, original jurisdiction, original writ, original bill, and the like. 2. Originals are single or duplicate. Single, when there is but one; duplicate, when there are two. In the case of printed documents, all the impressions are originals, or in the nature of duplicate originals, and any copy will be primary evidence. Watson's Case, 2 Stark. R. 130; sed vide 14 Serg.& Rawle, 200; 2 Bouv. Inst. n. 2001. 3. When an original document is not evidence at common law, and a copy of such original is made evidence by an act of the legislature, the original is not, therefore, made admissible evidence by implication. 2 Camp. R. 121, A Law Dictionary
Adapted To The Constitution And Laws Of The United States Of America And Of The Several States Of The American Union by: John Bouvier Revised Sixth Edition, 1856

ORIGINAL ENTRY. The first entry made by a merchant, tradesman, or other person in his account books, charging another with merchandise, materials, work, or labor, or cash, on a contract made between them. 2. This subject will be divided into three sections. 1. The form of the original entry. 2. The proof of such entry. 3. The effect. 3.-Sec. 1. To make a valid original entry it must possess the following requisites, namely: 1. It must be made in a proper book. 2. It must be made in proper time. 3. It must be intelligible and according to law. 4. It must be made by a person having authority to make it. 4.-1. In general the books in which the first entries are made, belonging to a merchant, tradesman, or mechanic, in which are charged goods sold and delivered, or work and labor done, are received in evidence. There are many books, which are not evidence, a few of which will he here enumerated. A book made up by transcribing entries made on a slate by a journeyman, the transcript being made on the same evening, or sometimes not until nearly two weeks after the work was done, was considered as not being a book of original entries. 1 Rawle, R. 435; 2 Watts, R. 451; 4 Watts, R. 258; 1 Browne's R. 147; 6 Whart. R. 189; 5 Watts, 432; 4 Rawle, 408; 2 Miles, 268. A book purporting to be a book of original entries, containing an entry of the sale of goods when they were ordered but before they were delivered, is not a book of original entries. 4 Rawle, 404. And unconnected scraps of paper, containing, as alleged, original entries of sales by an agent, on account of his principal, and appearing on their face to be irregularly kept, are not to be considered as a book of original entries. 13 S. & R. 126. See 2 Whart. R. 33; 4 McCord, R. 76; 20 Wend. 72; 2 Miles, R. 268; 1 Yeates, R. 198; 4 Yeates, R. 341. 5.-2. The entry must be made in the course of

business, and with the intention of making a charge for goods sold or work done; they ought not to be made after the lapse of one day. 8 Watts, 545; 1 Nott, & McCord, 130; 4 Nott & McCord, 77; 4 S. & R. 5; 2 Dall. 217; 9 S. & R. 285. A book in which the charges are made when the goods are ordered is not admissible. 4 Rawle, 404; 3 Dev. 449. 6.-3. The entry must be made in an intelligible manner, and not in figures or hieroglyphics which are understood by the seller only. 4 Rawle, 404. A charge made in the gross as "190 days work," 1 Nott & McCord, 130, or "for medicine and attendance," or "thirteen dollars for medicine and attendance on one of the general's daughters in curing the whooping cough," 2 Const. Rep. 476, were rejected. An entry of goods without carrying out any prices proves, at most, only a sale, and the jury cannot, without other evidence, fix any price. 1 South. 370. The charges should be specific and denote the particular work or service charged, as it arises daily, and the quantity, number, weight, or other distinct designation of the materials, or articles sold or furnished, and attach the price and value to each item. 2 Const. Rep. 745; 2 Bail. R. 449; 1 Nott & McCord, 130. 7.-4. The entry must of course have been made by a person having authority to make it, 4 Rawle, 404, and with a view to charge the party. 8 Watts, 545. 8.-Sec. 2. The proof of the entry must be made by the person who made it. If made by the seller, he is competent to prove it from the necessity of the case, although he has an interest in the matter in dispute. 5 Conn. 496; 12 John. R. 461; 1 Dall. 239. When made, by a clerk, it must be proved by him. But, in either case, when the person who made the entry is out of the reach of the process of the court, as in the case of death, or absence out of the state, the handwriting may be proved by a person acquainted with the handwriting of the person who made the entry. 2 Watts & Serg. 137. But the plaintiff is not competent to prove the handwriting of a deceased clerk who made the entries. 1 Browne's R. App. liii. 9.- Sec. 3. The books and original entries, when proved by the supplementary oath of the party, is prima facie evidence of the sale and delivery of goods, or of work and labor done. 1 Yeates, 347; Swift's Ev. 84; 3 Vern. 463; 1 McCord, 481; 1 Aik. 355; 2 Root, 59; Cooke's R. 38. But they are not evidence of money lent, or cash paid. Id.; 1 Day, 104; 1 Aik. 73, 74; Kirby, 289. Nor of the time a vessel laid at the plaintiff's wharf; 1 Browne's Rep. 257; nor of the delivery of goods to be sold on commission. 2 Wharton, 33. A Law Dictionary Adapted To
The Constitution And Laws Of The United States Of America And Of The Several States Of The American Union by: John Bouvier Revised Sixth Edition, 1856

MONEY HAD AND RECEIVED defined: An action of assumpsit will lie to recover money to which the plaintiff is entitled, and which in justice and equity, when no rule of policy or strict law prevents it, the defendant ought to refund to the plaintiff, and which he cannot with a good conscience retain, on a count for money had and received. 6 S. & R. 369; 10 S. & R. 219: 1 Dall. 148; 2 Dall. 154; 3 J. J. Marsh. 175; 1 Harr. 447; 1 Harr. & Gill. 258; 7 Mass. 288; 6 Wend. 290; 13 Wend. 488; Addis. on Contr. 230. 2. When the money has been received by the defendant in consequence of some tortious act to the plaintiff's property, as when he cut down the plaintiff's timber and sold it, the plaintiff may waive the tort and sue in assumpsit for money had and received. 1 Dall. 122; 1 Blackf. 181; 5 Pick. 285; 1 J. J. Marsh. 543: 4 Pick. 452; 12 Pick. 120; 4 Binn. 374; 3 Watts, 277; 4 Call, 451. 3. In general the action for money had and received lies only where money has been received by the defendant. 14 S. & R. 179; 1 Pick. 204; 7 S. & R. 246; 1 J. J. Marsh. 544; 3 J. J. Marsh. 6; 7 J. J. Marsh.

100; 3 Bibb, 378; 11 John. 464. But bank notes or any other property received as money will be considered for this purpose as money. 17 Mass. 560; 3 Mass. 405; 14 Mass. 122; Brayt. 24; 7 Cowen, 622; 4 Pick. 74. See 9 S. & R. 11. 4. No privity of contract between the parties is required in order to support this action, except that which results from the fact of one man's having the money of another, which he cannot conscientiously retain. 17 Mass. 563, 579. See 2 Dall. 54; Mart. & Yerg. 221; 5 Conn. 71. A Law Dictionary Adapted To The Constitution And Laws Of The
United States Of America And Of The Several States Of The American Union by: John Bouvier Revised Sixth Edition, 1856

CHECK defined: contracts. A written order or request, addressed to a bank or persons carrying on the banking business, and drawn upon them by a party having money in their hands, requesting them to pay on presentment to a person therein named or to bearer, a named sum of money. 2. It is said that checks are uniformly payable to bearer Chit. on Bills, 411; but that is not so in practice in the United States. they are generally payable to bearer, but sometimes they are payable to order. 3. Checks are negotiable instruments, as bills of exchange; though, strictly speaking, they are due before payment has been demanded, in which respect they differ from promissory notes and bills of exchange payable on a particular day. 7 T. R. 430. 4. The differences between a common check and a bill of exchange, are, First, that a check may be taken after it is overdue, and still the holder is not subject to the equities which may exist between the drawer and the party from whom he receives it; in the case of bills of exchange, the holder is subject to such equity. 3 John. Cas. 5, 9; 9 B. & Cr. 388. Secondly, the drawer of a bill of exchange is liable only on the condition that it be presented in due time, and, if it be dishonored, that he has had notice; but such is not the case with a check, no delay will excuse the drawer of it, unless he has suffered some loss or injury on that account, and then only pro tanto. 3 Kent, Com. 104 n. 5th ed.; 8 John. Cas. 2; Story, Prom. Notes, Sec. 492. 5. There is a kind of check known by the name of memorandum cheeks; these are given in general with an understanding that they are not to be presented at the bank on which they are drawn for payment; and, as between the parties, they have no other effect than an IOU, or common due bill; but third persons who become the holders of them, for a valuable consideration, without notice, have all the rights which the holders of ordinary checks can lawfully claim. Story, Prom. Notes, Sec. 499. 6. Giving a creditor a check on a bank does not constitute payment of a debt. 1 Hall, 56, 78; 7 S. & R. 116; 2 Pick. 204; 4 John. 296. See 3 Rand. 481. But a tender was held good when made by a check contained in a letter requesting a receipt in return, which the plaintiff sent back, demanding a larger sum, without objecting to the nature of the tender. 3 Bouv. Inst. n. 2436. 7. A cheek delivered by a testator in his lifetime to a person as a gift, and not presented till after his death, was considered as a part of his will, and allowed to be proved as such. 3 Curt. Ecc. R. 650. Vide, generally,4 John. R. 304; 7 John. R. 26; 2 Ves. jr. 111; Yelv. 4, b, note; 7 Serg. & Rawle, 116; 3 John. Cas. 5, 259; 6 Wend. R. 445; 2 N. & M. 251; 1 Blackf. R. 104; 1 Litt. R. 194; 2 Litt. R. 299; 6 Cowen, R. 484; 4 Har. & J. 276; 13 Wend. R. 133; 10 Wend. R. 304; 7 Har. & J. 381; 1 Hall, R. 78; 15 Mass. R. 74; 4 Yerg. R. 210; 9 S. & R. 125; 2 Story, R. 502; 4 Whart. R. 252. A Law Dictionary
Adapted To The Constitution And Laws Of The United States Of America And Of The Several States Of The American Union by: John Bouvier Revised Sixth Edition, 1856

CHECK BOOK defined: commerce. One kept by persons who have accounts in bank, in which are printed blank forms of cheeks, or orders upon the bank to pay money. A Law Dictionary Adapted To The Constitution And Laws Of The
United States Of America And Of The Several States Of The American Union by: John Bouvier Revised Sixth Edition, 1856

RETURN defined: To bring, carry, or send back; to place in the custody of; to restore; to re-deliver. "Return" means that something which has had a prior existence will be brought or sent back. Sims v. Western Steel Co., C.A. Utah, 551 F.2d 811, 820. The act of a sheriff, constable, marshal, or other ministerial officer, in delivering back to the court a writ, notice, process or other paper, which he was required to serve or execute, with a brief account of his doings under the mandate, the time and mode of service or execution, or his failure to accomplish it, as the case may be. Also the indorsement made by the officer upon the writ or other paper, stating what he has done under it, the time and mode of service, etc. Such return (proof of service) is required under Rule of Civil Procedure 4. See False return; Return day, below. A schedule of information required by governmental bodies, such as the tax return required by the Internal Revenue Service. See Joint tax return; Tax return. Merchandise, which is brought back to the seller for credit or refund. Profit on sale, or income from investments (usually expressed as annual percentage rate). See Income; Profit; Rate (Rate of return), Return on assets; Return on equity; Revenue. The report made by the court, body of magistrates, returning board, or other authority charged with the official counting of the votes cast at an election. In English practice, the election of a member of parliament. Blacks Law Dictionary Sixth Edition (page 1318) ACKNOWLEDGMENT OF RECEIPT OF SETTLEMENT STATEMENT Borrower: Seller: Lender: Settlement Agent: Place of Settlement: Settlement Date: Property Location: I have carefully reviewed the HUD-1 best of my knowledge and belief, it all receipts and disbursements made transaction. I further certify that Settlement Statement. Settlement Statement and to the is a true and accurate statement of on my account or by me in this I have received a copy of the HUD-1

_________________________________ Mr. Buyer _________________________________ Mr. Seller _________________________________ Mrs. Seller

To the best of my knowledge, the HUD-1 Settlement Statement which I have prepared is a true and accurate account of the funds which were received and have been or will be disbursed by the undersigned as part of the settlement of this transaction. _________________________________ Settlement Agent