BANK - Black's Law Dictionary

A bench or seat; the bench of justice; the bench or tribunal occupied by the judges; the seat of judgment; a court. The full bench, or full court; the assembly of all the judges of a court.

A "sitting in bank" is a meeting of all the judges of a court, usually for the purpose of hearing arguments on demurrers, points reserved, motions for new trial, and other law points, as distinguished from the sitting of a single judge at the assises or at nisi prius and from trials at bar to determine facts. 3 Bla.Comm. 28, n. But in this sense, banc is perhaps the more usual form of the word. "Sitting in bank" is also described as an official meeting of four of the judges of a common law court. Wharton, Lex.

Bank le Roy. The king's bench. Finch, 198.

An acclivity; an elevation or mound of earth, especially that which borders the sides of a water course.

The land adjacent to a river. Graham v. Knight, Tex. Civ.App., 240 S. W. 981, 983.

That part of a stream which retains the water. Dawson County v. Phelps County, 94 Neb. 112, 142 N.W. 697, 699.

The elevation of land which confines the waters of a stream in their natural channel when they rise the highest and do not overflow the banks. Department of Health of New Jersey v. Chemical Co. of America, 90 N.J.Eq. 425, 107 A. 164, 166. A water-washed and relatively permanent elevation or acclivity at the outer line of a river bed which separates the bed from the adjacent upland, and serves to confine the waters within the bed and to preserve the course of the river. State of Oklahoma v. State of Texas, 43 S.Ct. 221, 260 U.S. 606, 67 L.Ed. 428; Horton v. Niagara, Lockport & Ontario Power Co., 247 N.Y.S. 741, 745, 231 App.Div. 386. The land lying between the edge of the water of a stream at its ordinary low stage and the line which the edge of the water reaches in its ordinary high stage. Wemple v. Eastham, 150 La. 247, 90 So. 637, 638. An elevation of land which confines the waters of a stream when they rise out of the bed. Neither the line of ordinary high-water mark, nor of ordinary low-water mark, nor of a middle stage of water can be assumed as the line dividing the bed from the banks. Banks are fast land, on which vegetation appropriate to such land in the particular locality grows wherever the bank is not too steep to permit such growth, and bed is soil of a different character, and having no vegetation, or only such as exists, when commonly submerged in water. State v. Nolegs, 139 943, 946, 40 Okl. 479. On the borders of navigable streams, where there are levees established according to law, the levees form the "banks of the river." Ward v.Board of Levee Com'rs of Orleans Levee Dist., 152 La. 158, 92 So. 769, 772.

An institution, of great value in the commercial world, empowered to receive deposits of money,to make loans, and to issue its promissory notes, (designed to circulate as money, and commonly called "bank-notes" or "bank-bills,") or to perform any one or more of these functions. State v. Wagner, 202 Iowa, 739, 210 N.W. 901, 902; People v. Bartow, 6 Cow.N.Y. 290; Dearborn v. North- western Savings Bank, 42 Ohio St. 617; In re Prudence Co., D.C.N.Y., 10 F.Supp. 33, 36.

An institution, usually incorporated with power to issue its promissory notes intended to circulate as money (known as bank notes) ; or to receive the money of others on general deposit, to form a joint fund that shall be used by the institution, for its own benefit, for one or more of the purposes of making temporary loans and discounts ; of dealing in notes, foreign and domestic bills of exchange, coin, bullion, credits, and the remission of money; or with both these powers, and with the privileges, in addition to these basic powers, of receiving special deposits and making col The term "bank" is usually restricted in its application to an incorporated body; while a private individual making it his business to conduct banking operations is generally denominated a "banker." Hobbs v. Bank, C.C.A. N.Y., 101 F. 75, 41 C.C.A. 205; Wells, Fargo & Co. v. Northern Pac. R. Co., C.C.Or., 23 F. 469.

An institution, usually incorporated with power to issue its promissory notes intended to circulate as money (known as bank notes) ; or to receive the money of others on general deposit, to form a joint fund that shall be used by the institution, for its own benefit, for one or more of the purposes of making temporary loans and discounts ; of dealing in notes, foreign and domestic bills of exchange, coin, bullion, credits, and the remission of money; or with both these powers, and with the privileges, in addition to these basic powers, of receiving special deposits and making collections ae holders of negotiable paper, if the instituion sees fit to engage in such business. State of Kansas ex rel. Boynton v. Hayes, C.C.A.Kan., 62 F.2d 597, 600The term "bank" is usually restricted in its application to an incorporated body; while a private individual making it his business to conduct banking operations is generally denominated a "banker." Hobbs v. Bank, C.C.A. N.Y., 101 F. 75, 41 C.C.A. 205; Wells, Fargo & Co. v.Northern Pac. R. Co., C.C.Or., 23 F. 469.

The house or place where the business of banking is carried on.

—Bank-account. A sum of money placed with a bank or banker, on deposit, by a customer, and subject to be drawn out on the latter's check. The statement or computation of the several sums deposited and those drawn out by the customer on checks, entered on the books of the bank and the depositor's passbook. Gale v. Drake, 51 N.H. 84.

—Bank bill. Same as bank note. Eastman v. Corn., 4 Gray (Mass.) 416. See Bank note, infra.

—Bank book. A book kept by a customer of a bank, showing the state of his account with it. See Pass-book.

—Bank cashier. A chief executive officer and general agent through whom financial operations of bank are conducted. Hamilton Nat. Bank of Chattanooga, Tenn., v. Lerman, 229 Ala. 363, 157 So. 75.

—Bank charges. This term in an action on a bill of exchange is equivalent to expenses of noting and may be especially endorsed as a liquidated demand; [1893] 1 Q.B. 318.

—Bank check. See Check.

—Bank credit. A credit with a bank by which, on proper security given to the bank, a person re- ceives liberty to draw to a certain extent agreed upon. In Scotland also called a cash account. Cent. Dict.

—Bank depositor. One who delivers to or leaves with a bank a sum of money subject to his order. Wharton v. Poughkeepsie Sa ^y. Bank, 31 N.Y.S.2d 311, 313, 262 App.Div. 598.

—Bank draft. A check, draft, or other order for payment of money, drawn by an authorized officer of a bank upon either his own bank or some other bank in which funds of his bank are deposited.

Polotsky v. ArtisansBank, Del., 180 A. 791, Sa792, 7 W.W.Harr. 142..

—Bank note. 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 Com- monwealth of Kentucky, 11 Pet. 257, 9 L.Ed. 709.

—Bank stock. Shares in the capital of a bank; shares in the property of a bank. In England the term is applied chiefly to the stock of the Bank of England.

—Bank teller. See Teller.

—Bank in failing condition. Under sdme statutes, an insolvent bank. Hanson v. State, 160 Ark. 329, 254 S.W. 691, 694.

—Bank of circulation. One which issues bank notes payable to bearer. Dunn v. State, 13 Ga. App. 314, 79 S.E. 170, 171. See Bank of issue, infra.

—Bank of deposit. A savings bank or any other bank which receives money on deposit. Dunn v. State, 13 Ga.App. 314, 79 S.E. 170, 171.

—Bank of discount. One which lends money on collateral or by means of discounts of commercial paper. Dunn v. State, 13 Ga.App. 314, 79 S.E. 170,171.

—Bank of issue. One which, pursuant to authority conferred by its charter, issues its own notes intended to circulate as money. Millikan v. Security Trust Co., 187 Ind. 307, 118 N.E. 568, 569.

—Joint-stock banks. In English law. Joint stock companies for the purpose of banking. They are regulated, according to the date of their incorporation, by charter, or by 7 Geo. IV, c. 46; 7 & 8 Vict. cc. 32, 113; 9 & 10 Vict. c. 45, (in Scotland and Ireland; ) 20 & 21 Vict. c. 49; and 27 & 28 Vict. c. 32; or by the "Joint-Stock Companies Act, 1862," (25 & 26 Vict. c. 89.) Wharton.

—Savings bank. An institution in the nature of a bank, formed or established for the purpose of receiving deposits of money, for the benefit of the persons depositing, to accumulate the produce of so much thereof as shall not be required by the depositors, their executors or administrators, at compound interest, and to return the whole or any part of such deposit, and the produce thereof, to the depositors, their executors or administrators, deducting out of such produce so much as shall be required for the necessary expenses attending the management of such institution, but deriving no benefit whatever from any such deposit or the produce thereof. Grant, Banks, 546; Bulakowski v. Philadelphia Sa ^y. Fund Soc., 270 Pa. 538, 113 A. 553, 554. They differ from the ordinary banks of discount and deposit in not being engaged in business for profit. Commercial Trust Co. of New Jersey v. Hudson County Board of Taxation, 86 N.J.Law, 424, 92 A. 263, 265.

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