Definitions from Black's Law Dictionary: 2nd Edition and Ballentine's Law Dictionary as are available for each term in each dictionary.
  • Ballentine's Law Dictionary

    Same as banc, which see; an institution where money is deposited and loaned. See 49 Am. St. Rep. 76; also 21 L. Ed. (U. S.) 618.

  • Black's Law Dictionary: 2nd Edition

    1. A bench or seat; the bench or tribunal occupied by the Judges; the seat of judgment; a court The fuil bench or fuil court; the assembly of all the Judges of a court A "sitting in bank" is a meeting of all the judges of a court, usually for the purpose of hearing arguments on demurrers, points reserved, motions for new trial, etc., as distingished from the sitting of a single judge at the assises or at nisi prius and from trials at bar. But, in this sense, banc is the more usual form of the word.
    2. 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. 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 denominated a "banker." Hobbs v. Bank, 101 Fed. 75, 41 C. C. A. 205; Kiggins v. Munday, 19 Wash. 233, 52 Pac. 856; Rominger v. Keyes, 73 Ind. 377; Oulton v. Loan Soc., 17 Wall. 117, 21 lu Ed. 618; Hamilton Nat Bank v. American In & T. Co, 66 Neb. 67, 92 N. W. 190; Wells, Fargo & Co. v. Northern Pac. R. Ch (C. C.) 23 Fed. 469. Also the house or place where such business is carried on. Banks in the commercial sense are of three kinds, to-wit:
    (1) Of deposit;
    (2) of discount ;
    (3) of circulation. Strictly speaking, the term "bank" implies a piace 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 deposite, such as bullion, plate, and the like, for safe-keeping until the depositor should see fit to draw it out for use, but the iusiness, in the progress of events, was extended, and bankers assumed to discount Jills 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 circniating currency and a medium of exchange, instead of gold and silver. Modern bankers frequently exercise any two r 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 In Ed. 618; Rev. St U. S. § 1407 (U. S. Comp. St. 1901, p. 2246).
    3. An acclivity; an elevation or mound of arth; usually applied in this sense to the raised earth bordering the sides of a water-X)urse.
    —Bank-account. A sum of money placed with a bank or banker, on deposit, by a customer, and subject to be drawn out on the latter's 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 depositor's pass-book. Gnie v. Drake, 51 N. H. 84.
    —Bank-bill. A promissory note issued by a bank, payable to the hearer on demand, and designed to circulate as money. Townsend v. People, 4 111. 328; Low r. People, 2 Park. Cr. R. (N. Y.) 37, State v. Hays, 21 Ind. 176; State v. Wilkins, 17 Vt. 155.
    —Bank-book. A book kept by a customer of a bank, showing the state of his account with it.
    —Bank-check. See Check.
    —Bank-credits. Accommodations allowed to a person on security given to a bank, to draw money on it to a certain extent agreed upon.
    —Banknote. A promissory note issued by a bank or authorized banker, payable to bearer on demand, and intended to circulate as money. Same as Bank-Bill, supra.
    —Bank of issue. One authorized by law to issue its own notes intended to circulate as money. Bank v. Gruber, 87 Pa. 471, 30 Am. Rep. 378.
    —Bank-stock. Shares in the capital of a bank ; shares in the property of a bank.
    —Bauk teller. See Teller.
    —. Joint-stock hanks. In English law. Joint-stock companies for the purpose of banking. They are regulated, according to tihe date of their incorporation, by charter, or by 7 Geo. IV. c. 46; 7 & 8 Viet cc. 32, 113; 9 & 10 Viet, c. 45, (in Scotland and Ireland;) 20 & 21 Viet c 49; and 27 & 28 Viet. c. 32; or by the "Joint-Stock Companies Act, 1862," (25 & 26 Viet. c. 89.) Wharton.
    —Savings bank. An instifution in the nature of a bank, formed or established for the purpose of receiving deposits of money, for the benefit of the persons depositing, to accumulate the produce of so much thereof as shall not be required by the depositors, their executors or administrators, at compound interest, and to return the whole or any part of such deposit, and the produce thereof, to the depositors, their executors or administrators, deducting out of such produce so much as shall be required for the necessary expenses attending the management of such institution, but deriving no benefit whatever from any such deposit or the produce thereof. Grant, Banks, 546; Johnson v. Ward, 2 111. App. 274; Com. v. Reading Sav. Bank. 133 Mass. 16. 19, 43 Am. Rep. 495; National Bank of Redemption v. Boston, 125 U. S. 60, 8 Sun. Ct 772, 31 It. Ed. 689; -Barrett v. Bloomfield Sav. Inst, 64 N. J. Eq. 425, 54 Atl. 548.