Legal Dictionary

Search results for: “bank deposit”

  • Deposit

    Deposit

    In contracts for sale, particularly the sale of land, it is that part of the purchase price prepaid by way of security when the contract is entered into. If the contract is completed, then the deposit is applied against the purchase money . But its primary purpose is that it is a […]

  • Federal Deposit Insurance Corporation

    Federal Deposit Insurance Corporation…

  • Certificate of Deposit

    Certificate of Deposit

    A piece of paper evidencing the existence of a time deposit with a bank or trust company . See S.E.C. v Fifth Avenue Coach Lines, Inc., (D.C.N. Y.)289 F. Supp. 3.

  • Mutual Savings Bank

    Concept of Mutual Savings Bank in the context of Real Property A short definition of Mutual Savings Bank: An institution owned by its depositors, as evidenced by certificates of deposit rather than stock. These institutions are active in long term real estate financing, as opposed to […]

  • Bank Check

    Legal Definition and Related Resources of Bank Check Meaning of Bank Check A check drawn by one bank on its account in another bank. The drawer bank on such a check has the right to issue a stop payment to the drawee bank. See Bruno v Collective […]

  • Direct Deposit

    United States Tax Concept of Direct Deposit The IRS will wire transfer your refund directly into your bank account rather than mailing you a check. It’s the fastest way to get your refund.

  • Bank Reconciliation

    United States Tax Concept of Bank Reconciliation A bank reconciliation is a verification of a bank statement balance against the depositor’s check book balance.

  • Branch Bank

    An office of a bank physically separate from its main or home office, especially one offering full banking services (i.e., not just an office for deposits, cashing checks, etc.). In some states, in an apparent attempt to keep small, especially rural, banks from having to compete with branches […]

  • Bank Draft

    An instrument of one bank drawing upon its deposits with another bank. See Perry v West, 266 A.2d849, 110 N.H. 351.

  • Bank Collections

    The process by which banks pass around to each other negotiable instruments, especially checks, so as to effect payments, loans, and repayments-among themselves; between themselves and their customers; and among their customers. Article 4 of the U.C.C. is devoted wholly to Bank Deposits […]

  • Banker’s Lien

    A lien, ordinarily statutory, which a bank, absent agreement to the contrary, has on all customer assets in its possession, to secure payment of all obligations owed by the customer to the bank. It should be also noted that with respect to ordinary bank deposits, the bank is a debtor of the […]

  • Bank Book

    A book in which the depositor’s accounts are entered; held by the depositor, also serving as a receipt, Also known as passbook.

  • Pibor (Paris Interbank Offer Rate)

    The deposit rate on interbank transactions in the Eurocurrency market quoted in Paris….

  • Money Center Banks

    Banks that raise most of their funds from the domestic and international money markets , relying less on depositors for funds….