Provident Securities & Banking Co. v. First National Bank

Citations

• 37 Pa. Super. 17
• 1908 Pa. Super. LEXIS 229

Syllabus

<p>Banks and banking — Checks—Bills of exchange — Negotiable paper — Acceptance — Notary public.</p> <p>The 137th section of the Act of May 16, 1901, P. L. 194, imposes a statutory duty on the drawee of a bill of exchange or check, to return the same accepted, or nonaccepted, to the holder within twenty-four hours after the same is delivered to such drawee, unless the holder may allow a greater period, and the failure to so return renders the drawee liable as an acceptor. The act of a bank in delivering checks to a notary public for protest is not a compliance with the act, and does not relieve the drawee from liability.</p>