Re: BANKRUPTCY

Posted by folsomresources (24.136.212.215) on June 11, 2003 at 21:12:32:

In Reply to: Re: BANKRUPTCY posted by BILLCOLLECTOR on June 11, 2003 at 20:46:57:

CASE LAW

Evidences of debt are not money and are not legal tender. (checks, credit cards, lines of credit, demand deposits, credit, letters of credit, and checkbook money) Howard & Foster Co. v. Citizens' Nat. Bank of Union., 33 S.C.202, 130 S.E. 758 Norton Grocery co. v. Peoples' Nat. Bank, 144 S.E. 501, 151 Va 195

"Checks, drafts, money orders, and bank notes are not lawful money of the United States". State v. Neilon, 73, Pac. 3211, 43 Ore. 168

"A national bank.. cannot lend its credit to another by becoming surety, endorser, or guarantor for him, such an act being ultra vires.." Merchants' Bank v. Baird 160 F. 642

"It is well enough that the people of this nation do not understand our banking and monetary system. For if they did I believe there would be a revolution before tomorrow morning." -Henry Ford

Follow Ups:

Post a Followup