Banker
Generally a person who is doing the banking business is called banker.
According to Dr.Hart, "A ‘Banker’ is one who in the ordinary course of his business honors cheques drawn upon him by persons from and for whom he received money on current accounts."
According to Sir John Paget, "No person or body corporate or otherwise can be a banker who does not: take deposit accounts. Take current accounts, issue and pay cheques drawn on himself and collect cheque for his customer."
It is said in English Bills of Exchange Act-1882, ‘Banker’ includes a body of persons, whether incorporated or not, who carry on the ‘business of banking’.
So, it can be said, that a banker does 'business of banking' i.e. accepts deposits withdrawable by cheques.
Webster Dictionary Meaning
1. Banker
- One who conducts the business of banking; one who,
individually, or as a member of a company, keeps an establishment for
the deposit or loan of money, or for traffic in money, bills of
exchange, etc.- A money changer.
- The dealer, or one who keeps the bank in a gambling house.
- A vessel employed in the cod fishery on the banks of Newfoundland.
- A ditcher; a drain digger.
- The stone bench on which masons cut or square their work.
Category: Banking & Finance
More from this Section
- Surplus line broker
Surplus line broker is a specialized insurance broker licensed to place business with ... - Public benefits
Public benefits is the aspect of a bank merger or holding-company acquisition application ... - Garn-St Germain Depository Institutions
Garn-St Germain Depository Institutions Act is the a deregulation law, passed in 1982 ... - Velocity of money
Velocity of money is the rate of turnover of money the average number of times per year ... - Law of large numbers
Law of large numbers is the concept that seemingly random events will follow predictable ...