Also known as: banks · banked · banking · banker · bankers · bankbook · bankbooks · banknote · banknotes · financial institution · depository
Written by attorneys · grounded in primary & secondary sources — see below
A financial establishment for the deposit, loan, exchange, or issue of money and for the transmission of funds.
Select any source to read its text and confirm it supports the definition.
Attorney Elena Ruiz maintains a client trust account at Beacon Bank. To cover monthly service charges without using client funds, she deposits exactly $50 of her own money into the account. The deposit satisfies the narrow exception allowing a lawyer's funds solely for bank fees.
After receiving foreclosure notice, homeowner Benito Benitez tenders a cashier's check drawn on Boulder Construction's account at Beacon Bank. The check equals the full amount due and arrives two days before the sale. The tender cures the monetary default under the statute.
Boubacar Bah and Beatrice Brown cohabit for three years and open a joint checking account at Beacon Bank using a shared last name on statements. They tell neighbors they are married. The joint bank account serves as public holding out that helps establish their common-law marriage.
A court orders genetic testing in a parentage case. The accredited laboratory receives payment via electronic transfer from a court-controlled account at Beacon Bank. The payment is processed through the bank as required for court disbursement.
Congress charters a national bank to stabilize currency. Maryland attempts to tax the bank's operations. The Supreme Court upholds the bank's creation as a valid exercise of federal power necessary and proper to carry out enumerated powers.
Central Hanover Bank and Trust Co. petitions to settle accounts of a common trust fund. The court approves notice by publication to known beneficiaries and by mail to others. The notice satisfies due process because it is reasonably calculated to reach interested parties.
A lawyer may deposit the lawyer's own funds in a client trust account only for the sole purpose of paying bank service charges on that account and only in an amount necessary for that purpose.
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Payment must be in cash or by cashier’s check, certified check, teller’s check, or equivalent obligation of a bank, or by electronic-funds transfer or money order.
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Yes. Using a joint bank account is one recognized indication of holding out publicly as spouses, which is an element required to establish a common-law marriage.
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…lex loci must be the governing rule of private right, under whatever jurisdiction private right comes to be examined." See also Bank of Hamilton v. Dudley's Lessee , 2 Pet. 492, 525. Compare Jackson v. Chew , 12 Wheat. 153, 162, 168; Livingston v. Moore , 7 Pet. 469, 542. [^maj-3]: Pepper, The Border Land of Federal…