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official of the bank and the person named) called a letter of indication, which is usually referred to in the circular note, and must be produced on presentation of the note. Circular notes are generally issued against a See also:

PAYMENT (Fr. paiement, from payer, to pay; Lat. pacare, to appease, pax, peace)

payment of See also:

CASH

cash to the amount of the notes, but the notes need not necessarily be cashed, but may be returned to the banker in See also:

EXCHANGE

exchange for the amount for which they were originally issued. A forged signature on a circular note conveys no right, and as it is the See also:

DUTY (from " due," that which is owing, O. Fr. deu, dil, past participle of devoir; Lat. debere, debitum; cf. " debt ")

duty of the payer to see that payment is made to the proper person, he cannot recover the amount of a forged note from the banker who issued the note.

End of Article: CIRCULAR NOTE

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