President Judge

A title sometimes be made where the bill is payable after sight, given to the presiding judge. It was formeror in any other case, where such presentment ly used in England and is now used in the is necessary in order to fix the maturity; or courts of common pleas in Pennsylvania. where the bill expressly stipulates that it So in the old Virginia court of appeals. The shall be presented for acceptance; or where it is drawn elsewhere than at the residence lord chief justice is now permanent president of the high court of justice in England. The or place of business of the drawee. A bill must be presented or negotiated within a title president is said to have a high Norman reasonable time; if not, the drawer and flavor. Inderwick, King’s Peace 225. endorsers are discharged. If the drawee is PRESIDENT OF A BANK. This officer, dead, presentment must be made to his per- under the banking system in the United sonal representative, or if he has been ad- States, is ordinarily a member of the board judged a bankrupt or insolvent, or has made of directors of the bank, and is chosen by an assignment for creditors, then to him or them. It is his duty to preside at all meetto his trustee or assignee. A bill may be ings of the board of directors; to exercise presented for acceptance on any day on a constant, immediate, and personal superviwhich negotiable instruments (see supra ) sion over the daily affairs of the bank; and may be presented for payment, and on Sat- to institute and carry on legal proceedings to urday before twelve o’clock, if not otherwise collect demands or claims due the institua holiday. Where the holder of a bill pay- tion; Morse, Banks 144; Alexandria G. Co. able elsewhere than at the place of business v. Swann, 5 How. (U. S.) 83, 12 L. Ed. 60; are often put in his name; Valk v. Crandall, 1 Sandf. Ch. (N. Y.) 179; but he has no more control over the property of the bank than any other director; Gibson v. Goldthwaite, 7 Ala. 281, 42 Am. Dec. 592; Hoyt v. Thompson, 5 N. Y. 320. He has no authority to release the claims of the bank without the authorization of the board of directors; Olney v. Chadsey, 7 It. I. 224; Davis v. Randall, 115 Mass. 547, 15 Am. Rep. 146; and an agreement made by him, after the bank has gone into liquidation, to continue its guarantee upon certain notes, is not binding upon the stockholders; Schrader v. Bank, 133 U. S. 67, 10 Sup. Ct. 238, 33 L. Ed. 564. See National Banks; Officer; Michie, Banking.