Legal Term: PASS BOOK

Definition: com. law. A book used by merchants with their customers, in which an entry of goods sold and delivered to a customer is made.

2. It is kept by the buyer, and sent to the merchant whenever he wishes to purchase any. article. It ought to be a counterpart of the mercbant s books, as far as regards the customer s account.

3. Among English bankers, the term pass-book is given to a small book made up from time to time, from the banker s ledger, and forwarded to the customer; this is not considered as a statement of account between the parties, yet when the customer neglects for a long time to make any objection to the correctness of the entries he will be bound by them. 2 Atk. 252; 2 Deac. & Ch. 534; 2 M. & W. 2.

Return to the Legalnut.com Law Dictionary