Circular note

Circular note

A circular note is a document request by a bank to its foreign correspondents to pay a specified sum of money to a named person. The person in whose favour a circular note is issued is furnished with a letter (containing the signature of an 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 payment of cash to the amount of the notes, but the notes need not necessarily be cashed, but may be returned to the banker in 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 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.

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References

 This article incorporates text from a publication now in the public domain: Chisholm, Hugh, ed (1911). Encyclopædia Britannica (11th ed.). Cambridge University Press. 


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  • Circular note — Circular Cir cu*lar, a. [L. circularis, fr. circulus circle: cf. F. circulaire. See {Circle}.] [1913 Webster] 1. In the form of, or bounded by, a circle; round. [1913 Webster] 2. repeating itself; ending in itself; reverting to the point of… …   The Collaborative International Dictionary of English

  • circular note — noun : letter of credit * * * circular note noun A former letter of bank credit addressed to foreign bankers for the use of a traveller, being a kind of bill personal to the bearer • • • Main Entry: ↑circular …   Useful english dictionary

  • Circular — is a basic geometric shape such as a Circle. Contents 1 Documents 2 Travel and transportation 3 Places …   Wikipedia

  • Circular — Cir cu*lar, a. [L. circularis, fr. circulus circle: cf. F. circulaire. See {Circle}.] [1913 Webster] 1. In the form of, or bounded by, a circle; round. [1913 Webster] 2. repeating itself; ending in itself; reverting to the point of beginning;… …   The Collaborative International Dictionary of English

  • Circular are — Circular Cir cu*lar, a. [L. circularis, fr. circulus circle: cf. F. circulaire. See {Circle}.] [1913 Webster] 1. In the form of, or bounded by, a circle; round. [1913 Webster] 2. repeating itself; ending in itself; reverting to the point of… …   The Collaborative International Dictionary of English

  • Circular cubics — Circular Cir cu*lar, a. [L. circularis, fr. circulus circle: cf. F. circulaire. See {Circle}.] [1913 Webster] 1. In the form of, or bounded by, a circle; round. [1913 Webster] 2. repeating itself; ending in itself; reverting to the point of… …   The Collaborative International Dictionary of English

  • Circular functions — Circular Cir cu*lar, a. [L. circularis, fr. circulus circle: cf. F. circulaire. See {Circle}.] [1913 Webster] 1. In the form of, or bounded by, a circle; round. [1913 Webster] 2. repeating itself; ending in itself; reverting to the point of… …   The Collaborative International Dictionary of English

  • Circular instruments — Circular Cir cu*lar, a. [L. circularis, fr. circulus circle: cf. F. circulaire. See {Circle}.] [1913 Webster] 1. In the form of, or bounded by, a circle; round. [1913 Webster] 2. repeating itself; ending in itself; reverting to the point of… …   The Collaborative International Dictionary of English

  • Circular lines — Circular Cir cu*lar, a. [L. circularis, fr. circulus circle: cf. F. circulaire. See {Circle}.] [1913 Webster] 1. In the form of, or bounded by, a circle; round. [1913 Webster] 2. repeating itself; ending in itself; reverting to the point of… …   The Collaborative International Dictionary of English

  • Circular numbers — Circular Cir cu*lar, a. [L. circularis, fr. circulus circle: cf. F. circulaire. See {Circle}.] [1913 Webster] 1. In the form of, or bounded by, a circle; round. [1913 Webster] 2. repeating itself; ending in itself; reverting to the point of… …   The Collaborative International Dictionary of English

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