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Money in the Western Legal TraditionMiddle Ages to Bretton Woods$
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David Fox and Wolfgang Ernst

Print publication date: 2016

Print ISBN-13: 9780198704744

Published to Oxford Scholarship Online: April 2016

DOI: 10.1093/acprof:oso/9780198704744.001.0001

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PRINTED FROM OXFORD SCHOLARSHIP ONLINE (oxford.universitypressscholarship.com). (c) Copyright Oxford University Press, 2021. All Rights Reserved. An individual user may print out a PDF of a single chapter of a monograph in OSO for personal use. date: 24 June 2021

Early English Law of Checks

Early English Law of Checks

Chapter:
(p.387) 19 Early English Law of Checks
Source:
Money in the Western Legal Tradition
Author(s):

James Steven Rogers

Publisher:
Oxford University Press
DOI:10.1093/acprof:oso/9780198704744.003.0019

This chapter examines the origins of English private law of checks in the late eighteenth through to the early nineteenth centuries. It analyses the law regarding bills of exchange. Similar to checks, a bill of exchange is a non-interest-bearing written order used primarily in trade that binds one party to pay a fixed sum of money to another party at a predetermined future date. By the eighteenth century, the bill of exchange had become an important commercial and legal instrument. The term ‘check’ seems to have been derived from the practice of early English banks, such as the Bank of England, of providing a means by which one could be assured that the customer was in fact authorized to draw on the bank.

Keywords:   English private law, law of checks, check, bill of exchange, non-interest-bearing, written order, Bank of England, law of negotiable instruments

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