Question 327. - A cheque drawn upon a bank for "capital and interest "in favour of another bank, which forwards it for collection to the drawee bank omitting the usual "N. P." in the instructions, is protested because there is no account. Is such a protest justified on the part of the drawee bank?

Answer. - It is open to question whether an item of this nature is for a sum certain in money within the definition of a bill of exchange. If it is a cheque properly speaking, the drawee bank is within its rights in protesting. If it is not a cheque, the drawee bank would still be within its rights in protesting, though the protest charges would probably not be collectible as part of the bill.