Interest on the Balances of Checking Accounts (with Abraham Shamos), 27 COL. L. REV. 633 (1927)
If a promissory note payable to a solvent commercial bank made by one not a customer were discounted for the maker by the bank and the price though due were not demanded by the maker, the financial and legal consequences would be those of a demand loan by maker to bank. If bullion, coins, bank notes, or deposit currency were sold by one not a customer to a bank and the price not demanded when due, the consequences would be those of a demand loan. Similarly, if the discounted note matured but were permitted by the bank to run, the 6ank would be making a demand loan to the solvent maker.
Date of Authorship for this Version
Moore, W. Underhill and Shamos, Abraham, "Interest on the Balances of Checking Accounts" (1927). Faculty Scholarship Series. Paper 2861.