"Law merchant" Quotes from Famous Books
 ... in which advances made by bankers differ from those made by other people is the exceptional right possessed by bankers of securing repayment by means of the banker's lien. The banker's lien is part of the law merchant and entitles him, in the absence of agreement express or implied to the contrary, to retain and apply, in discharge of the customer's liability to him, any securities of the customer coming into his possession in his capacity as banker. It includes bills and cheques paid ...
— Encyclopaedia Britannica, 11th Edition, Volume 3, Part 1, Slice 3 - "Banks" to "Bassoon" • Various |
