Abstraction [Banking] Law and Legal Definition
Abstraction, in general, means a taking; a removal, especially a wrongful taking or removal.
To constitute the offense of abstracting the funds of a national banking association, it is necessary that the funds of the association should be abstracted without its knowledge and consent, with the intent to injure or defraud it or some other company or person, or to deceive some officer thereof, or an agent appointed to examine its affairs. [United States v. Northway, 120 U.S. 327 (U.S. 1887)].
Legal Definition list
Related Legal Terms
- Abstraction Methods
- Abstraction-Filtration-Comparison Test
- Abstractions Test
- Accommodation Maker(Banking)
- Account [Banks & Banking]
- Acting in Concert [Banks & Banking]
- Affiliate [Banks & Banking]
- Alternative Mortgage Transaction [Banks & Banking]
- Application for a Deposit Facility [Banks & Banking]
- Appropriate Federal Banking Agency