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paying cheques drawn on him/her and also collecting cheques for his/her customers. In most common law jurisdictions there is a Bills of Exchange Act that codifies the law in relation to negotiable instruments, including cheques, and this Act contains a statutory definition of the term banker: banker includes a body of persons, whether incorporated or not, who carry on the business of banking' (Section 2, Interpretation). Although this definition seems circular, it is actually functional, because it ensures that the legal basis for bank transactions such as cheques does not depend on how the bank is structured or regulated. The business of banking is in many common law countries not defined by statute but by common law, the definition above. In other English common law jurisdictions there are statutory definitions of the business of banking or banking business. When looking at these definitions it is important to keep in mind that they are defining the business of banking for the purposes of the legislation, and not necessarily in general. In particular, most of the definitions are from legislation that has the purpose of regulating and supervising banks rather than regulating the actual business of banking. However, in many cases the statutory definition closely mirrors the common law one. Examples of statutory definitions: "banking business" means the business of receiving money on current or deposit account, paying and collecting cheques drawn by or paid in by customers, the making of advances to customers, and includes such other business as the Authority may prescribe for the purposes of this Act; (Banking Act (Singapore), Section 2, Interpretation). "banking business" means the business of either or both of the following:receiving from the general public money on current, deposit, savings or other similar account repayable on demand or within less than [3 months] ... or with a period of call or notice of less than that period; paying or collecting cheques drawn by or paid in by customers

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Related Questions

How do you check for doneness in any bake products?

To check for doneness in baked goods, you can use several methods. For cakes and muffins, insert a toothpick or a thin skewer into the center; if it comes out clean or with a few crumbs attached, they are done. For bread, tap the bottom of the loaf; a hollow sound indicates it's fully baked. Additionally, you can check for a golden-brown color and a firm texture to the touch.


How do you check the done baked products?

To check if baked products are done, use a toothpick or skewer; insert it into the center, and if it comes out clean or with a few moist crumbs, the product is ready. For breads, tap the bottom; a hollow sound indicates doneness. Additionally, observe the color; baked goods should be golden brown. Lastly, ensure the edges are pulling away from the pan for items like cakes and brownies.


How do you check for doneness in any beak products?

To check for doneness in baked goods, you can use several methods. One common technique is to insert a toothpick or skewer into the center; if it comes out clean or with a few moist crumbs, the product is done. Additionally, you can gently press the top of the baked item; it should spring back rather than feel soft or leave an indentation. For items like bread, tapping the bottom should produce a hollow sound if they are fully baked.


What is the recommended oven baked chicken temperature for achieving the perfect level of doneness?

The recommended oven baked chicken temperature for achieving the perfect level of doneness is 165F (74C).


What are test for doneness for baked potatoes?

When the potato is soft and fluffy inside.


What are the uses of shortening in baked products?

adds volume in baked products


How long do you cook 20 baked potatoes and what degree?

Aproximately one hour at 375 degrees. Use a toothpick to check doneness. If you can put the pick in the potato and remove it without lifting the potato it's done.


How long should a steak be baked in the oven after searing it?

After searing a steak, it should be baked in the oven for about 10-15 minutes at 375F to reach a medium-rare to medium level of doneness.


What are test for doneness for bread dough?

Dough is ready to be baked when you make a slight finger depression in it, and the dough bounces back.


How can I make delicious campfire baked potatoes during my next outdoor adventure?

To make delicious campfire baked potatoes, wash and dry the potatoes, then wrap them in foil with butter, salt, and any desired seasonings. Place the wrapped potatoes in the hot coals of the campfire and cook for about 45-60 minutes, turning occasionally. Check for doneness by piercing with a fork. Enjoy your tasty campfire baked potatoes!


What is springs in a recipe?

When checking a baked good for doneness, gently touch the center, barely pushing down. If it springs back in place, it is probably done.


What are example the of productivity?

The term "baked products" refers to cakes and pastries that require baking in an oven. Even though meat, fruit and vegetables also can be baked, they are usually not what is meant by "baked products." Some specific baked products are cakes, pies, cookies and all types of breads.