THE ENGLISH, SCOTTISH, AND AUSTRALIAN CHARTERED BANK v. ADCOCK

7 VLR (L) 157·STAWELL, C.J.
7 VLR (L) 157
7 VLR L 157
THE ENGLISH, SCOTTISH, AND AUSTRALIAN CHARTERED BANK v. ADCOCK Supreme Court of Victoria, at Law STAWELL, C.J. March 29, 30, 1881, 18 July 1881 AgencyPhilanthropic societyLiability of members of committee for overdraft on bankerAuthority unrevoked .

In the case of a society formed for no purpose of gain, the liability of members of the committee for a debt incurred on behalf of the society, resolves itself into a question of agency, or authority given by each of them. All members authorising any officer of the society to overdraw upon the account of the society at its bankers are liable for future further overdrafts until they revoke such authority. Members also who have notice of the existence of an overdraft, whether by the appearance, in the society’s accounts, of a charge of interest by its banker, or otherwise, and who do not protest or actually dissent, are also liable.

""

Continue Reading This Report

7 VLR (L) 157

One-off Purchase

$25
This report only
Permanent access
PDF download
Best Value

Digital Subscription

$45/mo
or $450/yrSAVE $90
All reports included
Unlimited access
Cancel anytime
Don't have an account? Create Account