Hannon v. Allegheny Bellevue Land Co.

Citations

• 44 Pa. Super. 266
• 1910 Pa. Super. LEXIS 164

Syllabus

<p>Banks and banking — Checks—Failure to deposit check within reasonable time — Mistake—Teller’s check.</p> <p>1. Where a check is given in settlement of a transaction at 1:30 o’clock in the afternoon, but is not presented for payment until the third day afterwards, and one day after the bank on which it was drawn failed, and it appears that all the parties interested in the check, as well as the bank on which it was drawn, were located in the same city, the delay in presenting the check is unreasonable, and such delay is not excused by the fact that the person who received the check mistakenly thought that the check was insufficient in amount, and had delayed presenting it in order to find the maker, so as to have the amount corrected. In such a case it is immaterial that the check in question was a teller’s check. ; )•' ■ • '</p> <p>2. For all practical purposes in modern mercantile transactions, a teller’s check is but a substitute for a.certified cheek and much more closely resembles it than it does a bill of exchange, strictly speaking, and it is none the less a check because drawn by an executive officer of the bank upon the institution he serves.</p> <p>3. Although in the negotiable instruments act, a check is designated as a bill of exchange, nevertheless the obligation of an indorser on a check is still as it was before the act, conditional and not absolute, and it is one of the conditions on which such obligation rests that the indorsed instrument shall be promptly presented for payment at the time and place fixed therefor, and that due notice of its dishonor be at once given.</p>