CASH, CASHIER

CASH, commerce. Money on hand, which a merchant, trader or other person has to do business with.

2. Cash price, in contracts, is the price of articles paid for in cash, in contradistinction to the credit price. Pard. n. 85; Chipm. Contr. 110. In common parlance, bank notes are considered as cash; but bills receivable are not.

CASH-BOOK, Commerce, accounts. One in which a merchant or trader enters an account of all the money, or paper moneys he receives or pays. An entry of the same thing ought to be made under the proper dates, in the journal. The object of the cash-book is to afford a constant facility to ascertain the true state of a man's cash. Pard. n. 87.

CASHIER. An officer of a moneyed institution, who is entitled by virtue of his office to take care of the cash or money of such institution.

2. The cashier of a bank is usually entrusted with all the funds of the bank, its notes, bills, and other choses in action, to be used from time to time for the ordinary and extraordinary exigencies of the bank. He usually receives directly, or tbrough subordinate officers, all moneys and notes of the bankdelivers up all discounted notes and other securities, when they have been paid draws checks to withdraw the funds of the bank where they have been deposited; and, as the executive officer of the bank, transacts much of the business of the institution. In general, the bank is bound by the acts of the cashier within the scope of his authority, expressed or implied. 1 Pet. R. 46, 70Wheat. R. 300, 361 5 Wheat. R. 326; 3 Mason's R. 505; 1 Breese, R. 45; 1 Monr. Rep. 179. But the bank is not bound by a declaration of the cashier, not within the scope of his authority; as when a note is about to be discountedby the bank, he tells a person that he will incur no risk nor responsibility by becoming an indorser upon such note. 6 Pet. R. 51; 8 Pet. R. 12.Vide 17 Mass. R. 1 Story on Ag. 114, 115; 3 Halst. R. 1; 12 Wheat. R. 183; 1 Watts & Serg. 161.

To CASHIER, punishment. To break; to deprive a military man of his office. Example: every officer who shall be convicted, before a general court martial, of leaving signed a false certificate relating to the absence of either officer or private soldier, or relative to his daily pay, shall be, cashiered. Articles of war, art. 14.