Commercial law, also known as trade law, is the body of law that applies to the rights, relations, and conduct of persons and businesses engaged in commerce, merchandising, trade, and sales. It is often considered to be a branch of civil law and deals with issues of both private law and public law.
A cultivar is an assemblage of plants selected for desirable characters that are maintained during propagation. More generally, a cultivar is the most basic classification category of cultivated plants in the International Code of Nomenclature for Cultivated Plants (ICNCP). Most cultivars arose in cultivation, but a few are special selections from the wild.
A commercial bank is a type of bank that provides services such as accepting deposits, making business loans, and offering basic investment products that is operated as a business for profit.
The pound sign (£) is the symbol for the pound sterling—the currency of the United Kingdom and previously of Great Britain and the Kingdom of England. The same symbol is used for similarly named currencies, such as the Gibraltar pound, the Egyptian pound, the Syrian pound, etc. It is also sometimes used for currencies named lira, for example the now withdrawn Italian lira.
Magnetic ink character recognition code, known in short as MICR code, is a character-recognition technology used mainly by the banking industry to ease the processing and clearance of cheques and other documents. The MICR encoding, called the MICR line, is at the bottom of cheques and other vouchers and typically includes the document-type indicator, bank code, bank account number, cheque number, cheque amount, and a control indicator. The technology allows MICR readers to scan and read the information directly into a data-collection device. Unlike barcodes and similar technologies, MICR characters can be read easily by humans. The MICR E-13B font has been adopted as the international standard in ISO 1004:1995, but the CMC-7 font is widely used in Europe, Brazil, Mexico and some other countries.
A blank cheque or carte blanche, in the literal sense, is a cheque that has no monetary value written in, but is already signed. In the figurative sense, it is used to describe a situation in which an agreement has been made that is open-ended or vague, and therefore subject to abuse, or in which a party is willing to consider any expense in the pursuance of their goals.
A negotiable instrument is a document guaranteeing the payment of a specific amount of money, either on demand, or at a set time, with the payer usually named on the document. More specifically, it is a document contemplated by or consisting of a contract, which promises the payment of money without condition, which may be paid either on demand or at a future date. The term can have different meanings, depending on what law is being applied and what country and context it is used in.
Midland Bank Plc was one of the Big Four banking groups in the United Kingdom for most of the 20th century. It is now part of HSBC. The bank was founded as the Birmingham and Midland Bank in Union Street, Birmingham, England in August 1836. It expanded in the Midlands, absorbing many local banks, and merged with the Central Bank of London Ltd. in 1891, becoming the London City and Midland Bank.
The Australian financial system consists of the arrangements covering the borrowing and lending of funds and the transfer of ownership of financial claims in Australia, comprising:
Sort codes, in the British and Irish banking industries, are bank codes used to route money transfers between banks within their respective countries via their respective clearance organisations. In Ireland, a sort code is known as the NSC or national sort code and is regulated by IPSO. Although sort codes in both countries have the same format, they are regulated by different authorities as each country has its own banking system.
In banking, a post-dated cheque is a cheque written by the drawer (payer) for a date in the future.
The Payments Council was an organisation of financial institutions in the United Kingdom, which set strategy for UK payment mechanisms from 2007 until 2015.
A demand draft is a negotiable instrument similar to a bill of exchange. A bank issues a demand draft to a client (drawer), directing another bank (drawee) or one of its own branches to pay a certain sum to the specified party (payee).
Blank endorsement of a financial instrument, such as a cheque, is only a signature, not indicating the payee. The effect of this is that it is payable only to the bearer – legally, it transforms an order instrument into a bearer instrument. It is one of the types of endorsement of a negotiable instrument.
The paper money of Zimbabwe were physical forms of Zimbabwe's four incarnations of the dollar from 1980 to 2009. The banknotes of the first dollar replaced those of the Rhodesian dollar at par in 1980 following the proclamation of independence. The Reserve Bank of Zimbabwe issued most of the banknotes and other types of currency notes in its history, including the Bearer cheques and Agro cheques that circulated between 15 September 2003 and 31 December 2008: the Standard Chartered Bank also issued their own emergency cheques from 2003 to 2004.
Cheque truncation is a cheque clearance system that involves the digitalisation of a physical paper cheque into a substitute electronic form for transmission to the paying bank. The process of cheque clearance, involving data matching and verification, is done using digital images instead of paper copies.
The Code of Civil Procedure, 1908 is a procedural law related to the administration of civil proceedings in India.
