Commercial Banking Company Ltd v Hartigan and Others

• Jurisdiction: Ireland
• Judgment Date: 01 January 1952
• Date: 01 January 1952
• Court: Circuit Court

Cir. Ct.

Commercial Banking Co., Ltd.

and

Hartigan and Others

Receipt of money on deposit receipt - No cheque books or current accounts - Plaintiffs' business carried on under banker's licence - Deposit made by plaintiffs in High Court - Central Bank Act, 1942 (No. 22 of 1942), ss. 42, 43, 47 (1), (2), (3) - Moneylenders Act, 1900 (63 64 Vict. c. 51), s. 6 - Money-lenders Act, 1933 (No. 36 of 1933), s. 5 (1).

The plaintiff company was founded in 1893, and, in addition to its head office in Dublin, had only one branch office, situated in Dun Laoghaire. Provincial clients were introduced to the plaintiffs by newspaper advertisements and circulars issued by the plaintiffs, or by local agents who were paid commission by the plaintiffs in respect of business introduced by them, but were not permitted to receive any money on the plaintiffs' behalf The plaintiffs' business included the advancing of money on personal or real security and the acceptance of deposits payable on demand more than £73,000, representing, approximately, 900 accounts being held by the plaintiffs by way of deposits. The plaintiffs did not issue cheques or pass books or bills of exchange on banks outside Eire, nor were any current accounts kept with them. The plaintiffs were carrying on their business under a banker's licence as required by s. 47 (2) of the Central Bank Act, 1942, and had made the deposit in the High Court required...