Definitions Bank defined: An institution of great value in the commercial world empowered to receive deposits of money, to make loans,

and to issue its promissory notes, (designed to circulate as money and commonly called bank-notes or bank-bills) or to perform any one or more of these functions. State v. Wagner, 202 Iowa, 739 210 N.W. 901, 902; People v. Bartow, 6 Cow.N.Y. 290; Dearborn v. Northwestern Savings Bank, 42 Ohio St. 617; In re Prudence Co., D.C.N.Y., 10 F.Supp. 33, 36. An institution usually incorporated with power to issue its promissory notes intended to circulate as money (known as bank notes); or to receive the money of others on general deposit, to form a joint fund that shall be used by the institution, for its own benefit, for one or more of the purposes of making temporary loans and discounts; of dealing in notes, foreign and domestic bills of exchange, coin, bullion, credits, and the remission of money; or with both these powers, and with the privileges, in addition to these basic powers, of receiving special deposits and making collections for the holders of negotiable paper, if the institution sees fit to engage in such business. State of Kansas ex rel. Boynton v. Hayes, C.C.A.Kan., 62 F.2d 597, 600. The term bank is usually restricted in its application to an incorporated body; while a private individual making it his business to conduct banking operations is generally denominated a banker. Hobbs v. Bank, C.C.A.N.Y., 101 F. 75, 41 C.C.A. 205; Wells, Fargo & Co. v. Northern Pac. R. Co., C.C.Or., 23 F. 469. The house or place where the business of banking is carried on. Banks in the commercial sense are of three kinds viz: (1) of deposit; (2) of discount; (3) of circulation. Strictly speaking the term bank implies a place for the deposit of money, as that is the most obvious purpose of such an institution. Originally the business of banking consisted only in receiving deposits, such as bullion, plate and the like, for safe-keeping until the depositor should see fit to draw it out for use, but the business, in the progress of events, was extended, and bankers assumed to discount bills and notes, and to loan money upon mortgage, pawn, or other security, and, at a still later period, to issue notes of their own, intended as a circulating currency and a medium of exchange, instead of gold and silver. Modern bankers frequently exercise any two or even all three of those functions, but it is still true that an institution prohibited from exercising any more than one of those functions is a bank, in the strictest commercial sense. Oulton v. German Sav. & L. Soc., 17 Wall. 118, 21 L.Ed. 618; Millken v. Security Trust Co., 118 N.E. 568, 569, 187 Ind. 307; Rev.St.U.S. 3407 (12 USCA 561) Blacks Law Dictionary Revised Fourth Edition (page 184) Bank Account defined: A sum of money placed with a bank or banker, on deposit, by a customer, and subject to be drawn out on the latters check. The statement or computation of the several sums deposited and those drawn out by the customer on checks, entered on the books of the bank and the depositors passbook. Gale v. Drake, 51 N.H. 84. Blacks Law Dictionary Revised Fourth Edition (page 184) Bank Charges defined: This term in an action on a bill of exchange is equivalent to expenses of noting and may be especially endorsed as a liquidated demand; [1893] 1 Q.B. 318. Blacks Law Dictionary Revised Fourth Edition (page 184)

Bank Credit defined: A credit with the bank by which on proper security given to the bank, a person receives liberty to draw to a certain extent agreed upon. In Scotland also called a cash account. Cent. Dict. Blacks Law Dictionary Revised Fourth Edition (page 184) Bank Depositor defined: One who delivers to or leaves with a bank a sum of money subject to his order. Wharton v. Poughkeepsie Sav. Bank, 262 App.Div. 598, 31 N.Y.S.2d 311, 313. Blacks Law Dictionary Sixth Edition (page 145) Bank Deposit defined: Cash, checks, or drafts placed with bank for credit to depositors account. Placement of money in bank thereby creating contract between bank and depositor. U.C.C. 4-103. Blacks Law Dictionary Sixth Edition (page 145) Bank Draft defined: A check, draft, or other order for payment of money, drawn by an authorized officer of a bank upon either his own bank or some other bank in which funds of his bank are deposited. Polotsky v. Artisans Sav. Bank, Del., 180 A. 791, 792, 7 W.W.Harr. 142. Blacks Law Dictionary Revised Fourth Edition (page 184) Bank Note defined: A promissory note issued by a bank or banker authorized to do so, payable to bearer on demand, and intended to circulate as money. Blacks Law Dictionary Sixth Edition (page 145) Bank of Circulation defined: One which issues bank notes payable to bearer. Dunn v. State, 13 Ga.App. 314, 79 S.E. 170, 171. Blacks Law Dictionary Revised Fourth Edition (page 184) Bank of deposit defined: A savings bank or any other bank which receives money on deposit. Dunn v. State, 13 Ga.App. 314, 79 S.E. 170, 171. Blacks Law Dictionary Revised Fourth Edition (page 184) Bank of Discount defined: One which lends money on collateral or by discount of commercial paper. Dunn v. State, 13 Ga.App. 314, 79 S.E. 170, 171. Blacks Law Dictionary Revised Fourth Edition (page 184) Bank of Issue defined: One which, pursuant to authority conferred by its charter, issues its own notes intended to circulate as money. Millikan v. Security Trust Co., 187 Ind. 307, 118 N.E. 568, 569. Blacks Law Dictionary Revised Fourth Edition (page 184) Commercial Paper defined: Bills of exchange, promissory notes, bank-checks, and other negotiable instruments for the payment of money, which by their form and on their face, purport to be such instruments as are, by the law-merchant, recognized as falling under the designation of commercial paper. In re Hercules Mut. L. Assur. Soc., 6 Ben. 35, 12 Fed.Cas. 12. Negotiable paper in due course of business, whether the element of negotiability be given it by the law-merchant or by statute. In re Sykes, D.C.Ill., 5 Biss. 113 Fed.Cas.No.13,708; Martin v. McAvoy, 130 Wash. 641, 228 P. 694; Postal Telegraph Cable Co. v. Citizens Nat. Bank, C.C.A.N.J., 228 F. 601, 604. Blacks Law Dictionary Revised Fourth Edition (page 338)

Commercial Partnership defined: A commercial and trading partnership is one that buys and sells; --distinguished from one of employment and occupation. Reid v. Linder, 77 Mont. 406, 251 P. 157, 161. Blacks Law Dictionary Revised Fourth Edition (page 338) Fiduciary defined: The term is derived from the Roman law, and means (as a noun) a person holding the character of a trustee, or a character analogous to that of a trustee, in respect to the trust and confidence involved in it and the scrupulous good faith and candor which it requires. A person having duty, created by his undertaking, to act primarily for anothers benefit in matters connected with such undertaking. As a adjective it means of the nature of a trust; having the characteristics of a trust; analogous to a trust; relating to or founded upon a trust or confidence. Blacks Law Dictionary Fourth Edition. Fiduciary Capacity defined: One is said to act in a fiduciary capacity or to receive money or contract a debt in a fiduciary capacity, when the business which he transacts, or the money or property which he handles, is not his own or for his own benefit, but for the benefit of another person, as to whom he stands in a relation implying and necessitating great confidence and trust on the one part and a high degree of good faith on the other part. The term is not restricted to technical or express trust, but includes also such offices or relations as those of an attorney at law, a guardian, executor, or broker, a director of a corporation, and a public officer. As used in the Bankruptcy Act, [Sec. 17, subd. 4, 11 U.S.C.A. Sec. 35] however, the term imports a technical trust, actually and expressly constituted, and not such merely as the law implies, and has no application to debts or merely because they were created under circumstances in which trust or confidence in the popular sense of those terms was reposed in debtor. Culp v. Robey, Tex.Civ.App., 294 S.W. 647, 651; American Agricultural Chemical Co. v. Berry, 110 Me. 528, 87 A. 218, 45 L.R.A., N.S., 1106, Ann.Cas.1915A, 1293. Blacks Law Dictionary Fourth Edition (page 753) Fiduciary Contract defined: An agreement by which a person delivers a thing to another on the condition that he will restore it to him. Cicero, de Offic, lib. 3, cap. 17; Lec. Du .Civ.Rom. 237. Ses Chapman v. Forstyth, 2 How., U.S., 202, 11 L. Ed. 236; Fisk v. Sarber, 6 W. & S., Pa., 18; McGinn v. Shaeffer, 7 Watts, Pa., 415. Blacks Law Dictionary Fourth Edition. (page 753) Fiduciary Debt defined: A debt founded on or arising from some confidence or trust as distinguished from a debt founded simply on contract. Montgomery v. Phillips Petroleum Co., Tex.Civ.App., 49 S.W.2d 967, 973. Blacks Law Dictionary Fourth Edition (page 753) Fiduciary Debtors defined: Only public officers and trustees, not agents, factors, commission men, and the like, within the meaning of Bankruptcy Act, 14, subd. 4, 11 U.S.C.A. 32. Keefauver v. Hevenor, 163 App.Div. 531, 148 N.Y.S. 434, 435. Blacks Law Dictionary Fourth Edition (page 753) Fiduciary or Confidential Relation defined: A very broad term embracing both technical fiduciary relations and those informal relations which exist wherever one man trusts in or

relies upon another. One founded on trust or confidence reposed by one person in the integrity and fidelity of another. Kerrigan v. OMeara, 71 Mont. 1, 227 P. 819, 821. The origin of the confidence and the source of the influence are immaterial. The relations and duties involved need not be legal but may be moral, social, domestic, or merely personal. Trustees of Jesse Parker Williams Hospital v. Nisbet, 191 Ga. 821, 14 S.E.2d 64, 76. Blacks Law Dictionary Fourth Edition (page 753) Fiduciary Relation defined: An expression including both technical fiduciary relations and those informal relations which exist whenever one man trust and relies upon another. It exist where there is special confidence reposed in one who in equity and good conscience is bound to act in good faith and with due regard to interests of one reposing the confidence. A relation subsisting between two persons in regard to a business contract, or piece of property, or in regard to the general business or estate of one of them, of such a character that each must repose trust and confidence in the other and must exercise a corresponding degree of fairness and good faith. Out of such relation, the law raises the rule that neither party may exert influence or pressure upon the other, take selfish advantage of his trust, or deal with the subject-matter of the trust in such a way as to benefit himself or prejudice the other except in the exercise of the utmost good faith and with the full knowledge and consent of that other, business shrewdness, hard bargaining, and astuteness to take advantage of the forgetfulness or negligence of another being totally prohibited as between persons standing in such a relation to each other. Examples of fiduciary relations are those existing between attorney and client, guardian and ward, principal and agent, executor and heir, trustee and cestui que trust, landlord and tenant, etc. the relation need not be legal, but may be moral, social, domestic, or merely personal. It is one in which, if a wrong arise, the same remedy exists against wrongdoer on behalf of the principal as would exist against a trustee on behalf of a cestui que trust. Sometimes confidential and fiduciary relations are regarded as synonymous: but on the other hand a technical distinction may be taken between a fiduciary relation which is more correctly connected to legal relationships between parties, such as guardian and ward, administrator and heirs, and other similar relationships, and a confidential relation which includes the legal relationships, and also every other relationship wherein confidence is rightfully reposed and is exercised. Roberts v. Parsons, 195 Ky. 274, 242 S.W. 594, 596. Blacks Law Dictionary Fourth Edition (page 753) Trustee defined: The person appointed, or required by law to execute a trust; one in whom an estate, interest, or power is vested, under an express or implied agreement to administer or exercise it for the benefit or to the use of another called the cestui que trust. Person who holds title to res and administers it for others benefit. In a strict sense a trustee is one who holds the legal title to property for the benefit of another, while, in a broad sense, the term is sometimes applied to anyone standing in a fiduciary or confidential relation to another such as agent, attorney, bailee, etc. Trustee is also used in a wide and perhaps inaccurate sense, to denote that a person has the duty of carrying out a transaction, in which he and another person are interested, in

such manner as will be most for the benefit of the latter, and not in such a way that he himself might be tempted, for the sake of his personal advantage, to neglect the interest of the other. In this sense, directors of companies are said to be trustees for the shareholders. Sweet. Blacks Law Dictionary Fourth Edition (page 1684) Trust Deposit defined: Where money or property is deposited to be kept intact and not commingled with other funds or property of bank and is to be returned in kind to depositor or devoted to particular purpose or requirement of depositor or payment of particular debts or obligations of depositor. Also called special deposit. Maurello v. Broadway Bank & Trust Co. of Paterson, 114 N.J.L. 167, 176 A. 391, 394. Blacks Law Dictionary Fourth Edition (page 1682) Trust Receipt defined: A pre U.C.C. security device now governed by Article 9 of the Code. A receipt stating that the wholesale buyer has possession of the goods for the benefit of the financier. Today there usually must be a security agreement coupled with the filing of a financial statement. Method of financing commercial transactions by means off which title passes directly from manufacturer or seller to banker or lender who as the owner delivers goods to dealer in whose behalf he is acting secondarily, and to whom the title goes ultimately when primary right of banker or lender has been satisfied. Commercial Credit Corp. v. Bosse, 76 Idaho 409, 283 P.2d 937, 938. Blacks Law Dictionary Sixth Edition (page 1515) Bankable Paper defined: In mercantile law. Notes, checks, bank bills, drafts, and other securities for money, received as cash by the banks. The term does not necessarily mean discountable paper, but paper of such high credit that, if the time of payment was reasonable and the banks had loanable funds, they would ordinarily discount it. Edward P. Allis Co. v. Madison Electric Light, Heat & Power Co., 9 S.D. 459, 70 N.W. 650, 652. National bank notes are received as bankable money without regard to the locality of the bank issuing them. U.S.Rev.Stat. 5133 (12 USCA 21) Veazle Bank v. Fenno, 8 Wall. 533, 19 L.Ed. 482. Blacks Law Dictionary Fourth Edition (page 185) Banker defined: A private person who keeps a bank; one who is engaged in the business of banking. People v. Doty, 80 N.Y. 228; Auten v. Bank, 19 S.Ct. 628, 174 U.S. 125, 43 L.Ed 920. Blacks Law Dictionary Fourth Edition (page 185) Individual Banker Under some statutes, an individual banker, as distinguished from a private banker (q. v.) is a person who, having complied with the statutory requirements, has received authority from the state to engage in the business of banking, while a private banker is a person engaged in banking without having any special privileges or authority from the state. Perkins v. Smith, 116 N.Y. 441, 23 N.E. 21. Blacks Law Dictionary Fourth Edition (page 185) Private Banker One who carries on the business of banking without being incorporated. One who carries on the business of banking by receiving money on deposit with or without interest, by buying and selling bills of exchange, promissory notes, gold or silver coin, bullion,

uncurrent money, bonds or stock, or other securities, and by loaning money without being incorporated. State ex rel. Barker v. Sage, 267 Mo. 493, 184 S.W. 984, 988, Blacks Law Dictionary Fourth Edition (page 185) Bankers Acceptance defined: A draft or bill of exchange of which the acceptor is a bank or banker engaged generally in the business of granting bankers acceptance credits. Atterbury v. Bank of Washington Heights of City of New York, 241 N.Y. 231, 149 N.E. 841, 843. Blacks Law Dictionary Revised Fourth Edition (page 185) Bankers Lien defined: A lien which a banker has by virtue of which he can appropriate any money or property in his possession belonging to a customer to the extinguishment of any matured debt of such customer to the bank, provided such property or money has not been charged, with the knowledge of the bank, with subservience of a special burden or purpose, or does not constitute a trust fund of which the banker has notice. American Surety Co. of New York v. Bank of Italy, 63 Cal.App. 149, 218 P. 466, 468. Blacks Law Dictionary Revised Fourth Edition (page 185) Bankers Note defined: A commercial instrument resembling a bank note in every particular except it is given by a private banker or unincorporated banking institution. 6 Mod. 29; 3 Chit. Comm.Law 590. Blacks Law Dictionary Revised Fourth Edition (page 185) Banking defined: The business of receiving money on deposit, loaning money, discounting notes, issuing notes for circulation, collecting money on notes deposited, negotiating bills, etc. Bank v. Turner, 154 Ind. 456, 57 N.E. 110. The business of banking, as defined by law and custom consists in the issue of notes payable on demand intended to circulate as money when the banks are banks of issue; in receiving deposits payable on demand; in discounting commercial paper; making loans of money on collateral security; buying and selling bills of exchange; negotiating loans, and dealing in negotiable securities issued by the government, state and national, and municipal and other corporations. Mercantile Bank v. New York, 121 U.S. 138, 156, 7 S. Ct. 826, 30 L.Ed. 895; In re Prudence Co., D.C.N.Y., 10 F.Supp. 33, 36. Having a place of business where deposits are received and paid out on checks and where money is loaned on security is the substance of the business of banking. Marvin v. Kentucky Title Trust Co., 218 Ky. 135, 291 S.W. 17, 18, 50 A.L.R. 1337; State of Kansas ex rel. Bounton v. Hayes, C.C.A.Kan., 62 F.2d 597, 600. Blacks Law Dictionary Revised Fourth Edition (page 186) Deposit defined: A naked bailment of goods to be kept for the depositor without reward, and to be returned when he shall require it. Jones, Bailm. 36, 117; Rozelle v. Rhodes, 116 Pa. 129, 9 Atl. 160, 2 Am.St.Rep. 591; Occidental Life Ins. Co. v. Rogan, C.C.A.Cal., 141 F.2d 1011, 1012. A bailment of goods to be kept by the bailee without reward, and delivered according to the object or purpose of the original trust. Story, Bailm. Sec. 41; Elbert Sales Co. v. Granite

City Bank, 55 Ga.App. 835, 192 S.E. 66, 67. In general, an act by which a person receives the property of another, binding himself to preserve it and return it in kind. Henry Rose Mercantile & Mfg. Co. v. Stearns, 159 La. 957, 106 So. 455, 458. In Banking Law The act of placing or lodging money in the custody of a bank or banker, for safety or convenience, to be withdrawn at the will of the depositor or under rules and regulations agreed on. Also, the money so deposited, or the credit which the depositor receives for it. State Banking Board v. James, Tex.Civ.App., 264 S.W. 145,149. "Deposits" according to its commonly accepted and generally understood meaning among bankers and by the public, includes not only deposits payable on demand and subject to check, but deposits not subject to check, for which certificates, whether interest-bearing or not, may be issued payable on demand, or on certain notice, or at a fixed future time. Jones v. O'Brien, 58 S.D. 213, 235 N.W. 654, 659. Blacks Law Dictionary Revised Fourth Edition (page 527) Deposit Slip defined: An acknowledgment that the amount named therein has been received by the bank; it is a receipt intended to furnish evidence as between the depositor and depositary that on a given date there was deposited the sum named therein, the time of deposit, and amount deposited, being also shown. In re Ruskay, C.C.A.N.Y., 5 F.2d 143, 147. Black's Law Dictionary Revised Fourth Edition (page 527) Depositary defined: The party receiving a deposit; one with whom anything is lodged in trust as "depository" is the place where it is put. A trustee; fiduciary; one to whom goods are bailed to be held without recompense. Stand. Dict. The obligation on the part of the depositary is that he keep the thing with reasonable care, and, upon request, restore it to the depositor, or otherwise deliver it, according to the original trust. Brunner v. Edwards, 337 Pa. 513, 12 A.2d 36, 37. Black's Law Dictionary Revised Fourth Edition (page 527) Loan defined: A lending. In re Lallas Estate, 362 Ill. 621, 1 N.E.2d 50, 53. Also means advance of money with an absolute promise to repay. Bankers Mortgage Co. v. Commissioner of Internal Revenue, C.C.A.Tex., 142 F.2d 130, 131. Bailment without reward, consisting of the delivery of an article by the owner to another person, to be used by the latter gratuitously, and returned either in specie or in kind. A sum of money confided in another. Nichols v. Fearson, 7 Pet. 109, L.ed. 623; Booth v. Terrell, 16 Ga. 20, 25; a borrowing of money or other personal property by a person who promises to return it. State v. Moltzner, 141 Or. 355, 17 P.2d 555, 556; contract whereby one delivers money to another who agrees to equivalent sum. Easter Oil Corporation v. Strauss, Tex.Civ.App., 52 S.W.2d 336, 340; Shaw v. McShane, Tex.Com.App., 50 S.W.2d 278, 282; debts arising from borrowing of money. Lawrie v. Miller, Tex.Com.App., 45 S.W.2d 172, 173; delivery by one party and receipt by another party of money on agreement, expressed or implied to repay money with or without interest. Parsons v. Fox, 179 Ga. 605, 176 S.E. 642; O. A. Graybeal Co. v. Cook, 111 Cal.App. 518, 295 P. 1088, 1092; deposit of money by a

customer with banker. Gimbel Bros. v. White, 10 N.Y.S.2d 666, 667, 256 App.Div.439; deposit on time certificates. Carroll v. Eblen, 178 Tenn. 146, 156 S.W.2d 412, 415; payment of money by one to another to be repaid some future day. In re Arbuckles Estate, 324 Pa. 501, 188 A. 758, 761; that which one lends or borrows. In re Lallas Estate, 362 Ill. 621, 1 N.E.2d 50, 53; transaction creating customary relation of borrower and lender. Banncock County v. Citizens Bank & Trust Co., 53 Idaho 159, 22 P.2d 674. Transaction wherein one party transfers to the other a sum of money which that other agrees to pay absolutely. Yezek v. Delaware, L. & W. R. Co., 28 N.Y.S.2d 35, 36, 176 Misc. 553. The four elements of a loan are a principal sum, a placing of the sum with a safe borrower, an agreement that interest is to be paid, and a recognition by receiver of money of his liability for return of the principal amount with accrued interest. Blacks Law Dictionary Revised Fourth Edition (page 1085) Valuable Consideration defined: A class of consideration upon a promise may be founded, which entitles the promisee to enforce his claim against an unwilling promisor. Cockrell v. Mc Kenna, 103 N.J.L. 166, 134 A. 687, 688, 48 A.L.R. 234, some right, interest, profit, or benefit accruing to one party, or some forbearance, detriment, loss, or responsibility given, suffered, or undertaken by the other. Onsrud v. Paulsen, 219 Wis. 1, 261 N.W. 541, 542. Industrial Loan & Investment Bank v. Dardine, 207 N.C. 509, 177 S.E. 635. A gain or loss to either party is not essential, it is sufficient if the party in whose favor the contract is made parts with a right which he might otherwise exert. Miller Ice Co. v. Crim, 299 Ill.App. 615, 20 N.E.2d 347. It need not be translatable into dollars and cents, but is sufficient if it consists of performance or promise thereof, which promisor treats and considers of value to him. Asmus v. Longnecker, 131 Neb. 608, 269 N.W. 117, 119. It is not essential that the person to whom the consideration moves should be benefited, provided the person from whom it moves is, in a legal sense, injured. The injury may consist of a compromise of a disputed claim or forbearance to exercise a legal right, the alteration position being regarded as a detriment that forms a consideration independent of the actual value of the right forborne. Boston Excelsior Co. v. Amerio, 147 Misc. 1, 263 N.Y.S. 174. Mutual promises in contract is sufficient. Adams, Payne & Gleaves v. Indiana Wood Preserving Co., 155 Va. 18, 154 S.E. 558, 562. The following was said to be a valuable consideration; Extension of time for payment of an obligation. C. I. T. Corporation v. Furrow, 227 Iowa 961, 289 N.W. 697, 698; Farmers & Merchants State bank of Cawker City v. Higgins, 149 Kan. 783, 89 P.2d 418, 419. Release of property subject to execution. Bradley v. DeLoach, 176 Ga. 142, 167 S.E. 301, 303. Preexisting debt. Yale Oil Corporation v. Sedlacek, 99 Mont. 411, 43 P.2d 887, 890. (Contra Duncan v. Jones, Tex.Civ.App., 153 S.W.2d 214, 216.) The distinction between a good and a valuable consideration is the former consists of blood, or natural love and affection; as when a man grants an estate to a near relation from motives of generosity, prudence, and natural duty; and the latter consists of such a consideration as money, marriage which is to follow, or the like, which the law esteems an equivalent given for the grant. 2 Bl. Comm. 297; Exum v. Lynch, 188 N.C. 392, 125 S.E. 15, 18; Gay v. Fricks, 211 Ala. 119, 99 So. 846, 847; Barton v. Wilson, 116 Ark. 400, 172 S.W. 1032, 1034. Blacks Law Dictionary Revised Fourth Edition (page 1720)

Value defined: The utility of an object in satisfying, directly or indirectly, the needs or desires of human beings, called by economists value in use; or its worth consisting in the power of purchasing other objects, called value in exchange. Joint Highway Dist. No. 9 v. Ocean Shore R.Co., 128 Cal.App. 743, 18 P.2d 413, 417. Also the estimated or appraised worth of any object or property, calculated in money. Any consideration sufficient to support a simple contract. Fowler v. Smith, 24 Ohio App. 324, 156 N.E. 913, 914; Veigel v. Johnson, 163 Minn. 288, 204 N.W. 36, 37; Wilbour v. Hawkins, 38 R.I. 116, 94 A. 856, 857. The term is often used as an abbreviation for valuable consideration, especially in the phrases purchase for value, holder for value, etc. See Mays v. First State Bankof Keller, Tex.Civ.App., 233 S.W. 326, 328; Farr-Barnes Lumber Co. v. Town of St. George, 128 S.C. 67, 122 S.E. 24, 26. Under the Uniform Sales Act, value is any consideration sufficient to support a simple contract. Blumberg v. Taggart, 213 Minn. 39, 5 N.W.2d 388, 392. Blacks Law Dictionary Revised Fourth Edition (page 1721) Acceptance defined: The taking and receiving of anything in good part, and as it were a tacit agreement to a preceding act, which might have been defeated or avoided if such acceptance had not been made. The act of a person to whom a thing is offered or tendered by another, whereby he receives the thing with the intention of retaining it, such intention being evidenced by a sufficient act. The exercise of power conferred by an offer by performance of some act. Aetna Inv. Corporation v. Chandler Landscape & Floral Co., 227 Mo.App. 17, 50 S.W.2d 195, 197. The exercise of power conferred by an offer by performance of some act. In re Larneys Estate, 206 N.Y.S. 564, 148 Misc. 871. Bill of Exchange: An engagement to pay the bill in money when due. 4 East 72; Hunt v. Security State Bank, 91 Or. 362, 179 P. 248, 251. The act by which the person on whom a bill of exchange is drawn (called the drawee) assents to the request of the drawer to pay it, or , in other words engages, or makes himself liable, to pay it when due. Bell-Wayland Co. v. Bank of Sugden, 95 Okl. 67, 218 P. 705. It may be by parol or in writing, and either general or special, absolute or conditional; and it may be impliedly, as well as expressly, given. 3 Kent, Comm. 83, 85; Story, Bills, 238, 251. Telegram directing drawer to draw draft. Hoffer v. Eastland Nat. Bank, Tex.civ.App. , 169 S.W.2d 275, 278. Certification at request of payee or holder. Welch v. Bank of Manhattan Co., 35 N.Y.S.2d 894, 895, 264 App.Div. 906. But the usual and regular mode of acceptance is by the drawees writing across the face of the bill the word accepted and subscribing his name; after which he is termed the acceptor. Story, Bills 243. Contracts. Compliance by offeree with terms and conditions of offer would constitute an acceptance. Davis & Clanton v. C.I.T. Corporation, 190 S.C. 151, 2 S.E.2d 382, 383. Qualification or conditions make a counteroffer, not an acceptance. Cohn v. Penn Beverage Co., 313 Pa. 349, 169 A. 768, 769. Bullock v. McKeon, 104 Cal.App. 72, 285 P. 392, 395.

Sales. An acceptance implies, not only the physical fact of receiving the goods, but also the intention of retaining them. Illinois Fuel Co. v. Mobile & O.R. Co., 319, Mo. 899, 8 S.W.2d 834, 841. Blacks Law Dictionary Revised Fourth Edition (page 27) Holder defined: The holder of a bill of exchange, promissory note, check or other commercial paper is the person who has legally acquired possession of the same, by indorsement or delivery and who is entitled to receive payment of the instrument. CrockerWoolworth Nat. Bank v. Nevada Bank, 139 Cal. 564, 73 P. 456, 63 L.R.A. 245, 96 Am.St.Rep. 169. Person who is in possession of a document of title or an instrument or an investment security drawn, issued or endorsed to him or to his order, or to bearer or in blank. U.C.C. 1-201(20). Blacks Law Dictionary Sixth Edition (page 731) Holder for Value defined: A holder who has given valuable consideration for the document of title, instrument or investment security which he has in his possession. A holder takes an instrument for value: (a) to the extent that the agreed consideration has been performed or that he acquires a security interest in, or a lien on, the instrument otherwise than by legal process; (b) when he takes the instrument in payment of, or as security for, an antecedent claim against any person whether or not the claim is due; or (c) when he gives a negotiable instrument for it or makes an irrevocable commitment to a third person. U.C.C. 3-303. Blacks Law Dictionary Sixth Edition (page 731) Holder in Due Course defined: In commercial law, a holder of an instrument who took it for value, in good faith and without notice of any claim or defense against it. U.C.C. 3302(1), and who can enforce the instrument free from all claims and personal defenses. U.C.C. 3-305. A payee may be a holder in due course. A holder does not become a holder in due course of an instrument by purchase of it at a judicial sale or by taking it under legal process, or by acquiring it in taking over an estate, or by purchasing it as part of a bulk transaction not in regular course of business of the transferor. A purchaser of a limited interest can be a holder in due course only to the extent of the interest purchased. Kaw Valley State Bank & Trust Co. v. Riddle, 219 Kan. 550, 549 P.2d 927, 933. A holder in due course of a consumer credit contract (i.e. consumer paper) is subject to all claims and defenses which the debtor (buyer) could assert against the seller of the goods or services obtained pursuant to the credit contract or with the proceeds thereof. 16 CFR 433.1 et seq. Blacks Law Dictionary Sixth Edition (page 731) Holder in good Faith defined: one who takes property or an instrument without knowledge of any defect in its title. Blacks Law Dictionary Sixth Edition (page 731) In kind defined: Of the same species or category. In the same kind, class, or genus. A loan is returned in kind when not the identical article, but one corresponding and equivalent to it, is given to the lender. Blacks Law Dictionary Sixth Edition (page 787) Like Kind Exchange defined: An exchange of property held for productive use in a trade or business or for investment (except inventory and stocks and bonds) for other investment or trade or business property. Unless cash is received, the exchange is nontaxable. I.R.C. 1031. Test for determining whether exchanged properties are of like kind, such that gain

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from the exchange is not recognized for federal income tax purposes, is whether the property is of the same nature or character and a mere difference in grade or quality does not disqualify the exchange. California Federal Life Ins. Co. v. C.I.R., C.A. 9, 680 F.2d 85, 87. Blacks Law Dictionary Sixth Edition (page 925) Value Received defined: A phrase usually employed in a bill of exchange or promissory note, to denote that a lawful consideration has been given for it. Baker v. Thomas, 102 neb. 401, 167 N.W. 407; Clayton v. Clayton, 125 N.J.L. 537, 17 A.2d 496, 497. It is prima facie evidence of consideration; Palmer v. Blanchard, 113 Me. 380, 94 A. 220, 223. Ann.Cas.1917A. 809; Moses v. Bank, 13 S.Ct. 900, 149 U.S. 298, 37 L.Ed. 743; although not necessarily in money, Osgood v. Bringolf, 32 Iowa, 265. The phrase when put in a bill of exchange, will bear two interpretations; The drawer of the bill may be presumed to acknowledge the fact that he has received value from the payee, 3 Maule & S. 351; Benjamin v. Tillman, 2 McLean 213, Fed.Cas.No.1,304; or when the bill has been made payable to the order of the drawer and accepted, it implies that value has been received by the acceptor, 5 Maule & S. 65; Thurman v. Van Brunt, 19 Barb., N.Y. 409. The words are not required by the Uniform Negotiable Instruments Act. Blacks Law Dictionary Revised Fourth Edition (page 1722) Prima Facie Evidence defined: Evidence good and sufficient on its face; such evidence as, in the judgment of the law, is sufficient to establish a given fact, or the group or chain of facts constituting the party's claim or defense, and which if not rebutted or contradicted, will remain sufficient. State v. Burlingame, 146 Mo. 207, 48 S.W. 72. Evidence which suffices for the proof of a particular fact until contradicted and overcome by other evidence. Dodson v. Watson, 110 Tex. 355, 220 S.W. 771, 772, 11 A.L.R. 583. Evidence which, standing alone and unexplained, would maintain the proposition and warrant the conclusion to support which it is introduced. Gilmore v. Modern Brotherhood of America, 186 Mo.App. 445, 171 S.W. 629, 632. An inference or presumption of law, affirmative or negative of a fact, in the absence of proof, or until proof can be obtained or produced to overcome the inference. People v. Thacher, 1 Thomp. & C., N.Y. 167. A litigating party is said to have a prima facie case when the evidence in his favor is sufficiently strong for his opponent to be called on to answer it. A prima facie case, then, is one which is established by sufficient evidence, and can be overthrown only by rebutting evidence adduced on the other side. Mozley v. Whitley, State v. Lawlor, 28 Minn. 216, 9 N.W. 698. A "prima facie case" is one which is apparently established by evidence adduced by plaintiff in support of his case up to the time such evidence stands unexplained and uncontradicted. Morison v. Flowers, 308 Ill. 189, 139 N.E. 10, 12. A "prima facie case" is one in which the evidence in favor of a proposition is sufficient to support a finding in its favor, if all of the evidence to the contrary be disregarded. Schallert v. Boggs, Tex.Civ.App., 204 S.W. 1061, 1062. Black's Law Dictionary Revised Fourth Edition (page 1354) Consent defined: A concurrence of wills. Voluntarily yielding the will to the proposition of another; acquiescence or compliance therewith. Twin Ports Oil Co. v. Pure oil Co.,

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D.C.Minn., 26 F.Supp. 366, 371. Agreement; the act or result of coming into harmony or accord. Glantz v. Gabel, 66 Mont. 134, 212 P. 858, 860. Consent is an act of reason, accompanied with deliberation, the mind weighing as in a balance the good or evil on each side. 1 Story, Eq.Jur. Sec. 222; Lervick v. White Top Cabs, La.App., 10 So.2d 67, 73. It means voluntary agreement by a person in the possession and exercise of sufficient mentality to make an intelligent choice to do something proposed by another. People v. Kanglesser, 44 Cal.App. 345, 186 P. 388, 389. It supposes a physical power to act, a moral power of acting, and a serious, determined, and free use of these powers. Fonblanque, Eq. b, 1, c. 2, s. 1; New Jersey Mfrs' Casualty Ins. Co., 148 A. 790, 791, 106 N.J.L. 238. Consent is implied in every agreement. It is an act unclouded by fraud, duress, or sometimes even mistake. Heine v. Wright, 76 Cal.App. 338, 244 P. 955, 956. There is a difference between consenting and submitting. Every consent involves submission; but a mere submission does not necessarily involve consent. 9 Car. & P. 722. "Consent" is an active acquiescence as distinguished from "assent," meaning a silent acquiescence. People v. Lowe, 205 N.Y.S. 77, 78, 209 App.Div. 498. "Consent" an active circumstance of concurrence; "assent" is a passive act of concurrence before another does the act charged. Perryman v. State, 63 Ga.App. 819, 12 S.E.2d 388, 390. But the two terms may be used interchangeably. Barlett v. Sundin, 169 N.Y.S. 391, 393, 182 App.Div. 117. "Consent" is sometime synonymous merely with "waiver." Dahlquist v. Denver & R. G. R. Co., 52 Utah, 438, 174 P. 833, 844. See, also, Seegmiller v. Day, C.C.A.Ill., 249 F. 177, 178; Toledo Fence & Post Co. v. Lyons, C.C.A.Ohio, 290 F. 637, 640. Black's Law Dictionary Revised Fourth Edition (page 377) Uniform Commercial Code Whereas pursuant to; U.C.C. Article 4 Bank Deposits And Collections Part 1. General Provisions And Definitions 4-103. Variation By Agreement; Measure Of Damages; Action Constituting Ordinary Care. (a) The effect of the provisions of this Article may be varied by agreement , but the parties to the agreement cannot disclaim a bank's responsibility for its lack of good faith or failure to exercise ordinary care or limit the measure of damages for the lack or failure. However, the parties may determine by agreement the standards by which the bank's responsibility is to be measured if those standards are not manifestly unreasonable. (b) Federal Reserve regulations and operating circulars, clearing-house rules, and the like have the effect of agreements under subsection (a), whether or not specifically assented to by all parties interested in items handled. (c) Action or non-action approved by this Article or pursuant to Federal Reserve regulations or operating circulars is the exercise of ordinary care and, in the absence of special instructions, action or non-action consistent with clearing-house rules and the like or with a general banking usage not disapproved by this Article, is prima facie the exercise of ordinary care. (d) The specification or approval of certain procedures by this Article is not disapproval of

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other procedures that may be reasonable under the circumstances. (e) The measure of damages for failure to exercise ordinary care in handling an item is the amount of the item reduced by an amount that could not have been realized by the exercise of ordinary care. If there is also bad faith it includes any other damages the party suffered as a proximate consequence. Time is of the essence. Whereas pursuant to; the provisions of the Uniform Commercial Code (U.C.C.) should you find this affidavit in error you have 3 days from receipt (pursuant to Reg. Z Truth In Lending)) of this United States Postal Service Registered Mail Affidavit, to rebut each item on a point by point basis and such rebuttal is required to be with proper affidavit sworn and signed under oath and affirmation by you under penalties of perjury. Whereas pursuant to: Title 28, USC 1746(1) and executed without the United States, Sui Juris, known as; John, family Doe certify, verify, state, declare and affirm with my unlimited commercial liability, over the age of eighteen, competent, of sound mind, Sui Juris with the laws of the united states of America that the foregoing is true and correct, to the best of my belief and informed knowledge. And Further affiant saith not. I now affix my signature and official seal to all of the above affirmations WITHOUT PREJUDICE to all liberties (rights) pursuant to U.C.C. 1-308 and U.C.C. 1-103.6.with EXPLICIT RESERVATION OF ALL UNALIENABLE RIGHTS, to all liberties (rights) whereas pursuant to U.C.C. 1-308 and U.C.C. 1-103.6. By: [______________________________________] Sui Juris Known as; John, competent natural man of the genealogy of Doe, Trustee, Authorized User, Copy Claim

ACKNOWLEDGMENT On this date the individual named above, in his/her stated capacity, personally appeared before me and acknowledged that this instrument was signed as a free and voluntary act and deed for the uses and purposes therein mentioned

_____________________ DATE

_________________________________ Signature of NOTARY PUBLIC

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AFFIX NOTARY SEAL

Date Commission Expires

__________________ IF REQUIRED

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