Miscellaneous Quiz / Banking Law

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Can you name the Banker/Customer relationship?

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Score 0/99 Timer 15:00
Demand required in England
Bank need not check loan but inform risk
Partner can counterband cheques
Bank liable for dishonest employees
Actual knowledge of undue influence in Scotladn
In sequestration, no compensating of accounts
Duty of care is of prudent businessman
Constructive notice in English caution
Etridge not in Scotland
Special presentation removes 1 day
Principles of disclosure in common sense
Bank discharges with warning
Duty of good faith requires warning of risk in Scotland
Good faith needed - not technical but no exploitation
If offering advice, held to said standard
Cheque clearing has 4 contracts
Disclose - officiality
Failure in principle breaks caution
Condifentiality subject to contract
Matter of degree for cheque correctness
Disclose - war time assets
Banks must be forthright with variation
Deposit Receipt is instruction to repay
For cheque - a day is a day
No merging of accounts if instructed not to
Time for cheques reasonable
Customer duty only to inform of forgery
Advise on house, held to said standard
Need to intimate amalgamation
Disclose - court order
Bank only obliged to honour cheques if funds avialable
Oath or writ required for security reassignation
If knowing partner, can allow firm to be found
Test for unfairness very low
Joint accounts always require dual signatories
No waiver/disclaimer effective in caution
Jurisdiction clauses require highlighting
Caution may be to world at large
Creditor/Debtor not trust/agency
Right to interest on loan is implied
No duty for caution if cautioner benefiting
Disclose - public interest post Jack
Repayment on forged leaves account in credit
Duty to draw cheque correctly
Solicitor carries duty once passed on + factors affecting caution in obrien situations
Ambigious circumstances invokes surrounding facts
No demand need in Scotland
Creditor undue influence voidable
Able to honour cheques till intimated bankrupcty
Liability under caution ceases at end of principle
Courts will not interpret code against Customer
Each liable for pro rata share so claim within for return
Bank entitled to rely on solicitor acting for client
Obligation to get best price for security
Ordinary course of busienss for cheque clearing is fact specific
Relationship presumes undue influence
Duty of confidentiality
Alteration relieves cautioner
Security transfer need not have principle debt too
Instructed to open account = commencement
Trusteee personally liable
One failure in co-cautioner releases all
Specific amount removes pro rata
Mother/son close enough for persumption
Monies in trustees account followable
Disclosure duty needed informed removal
Need not intimate amalgamation
Disclaimer doesnt affect advisory nature
Insolvents are removed from co-cautioner pool
Pre Smith no dislosure
Time for new bank reasonable
Balance between safety + commercial practicality in caution
Caution interpreted narrowly
Negligence in delict remains prevalent despite contractual
First payment goes to first debit
Credit balance ranks after preferential
Relationship of contract
Lien allows retention of property
Partner can bind firm to credit
In England, must consent before merging
Actions may relieve cautioner
Disclose - public interest
Majority of Exectors needed to deal with account
Innocuous wording may lead to caution
Delivery for property
Knowledge of invalidity = personal bar
Apparent advantage over naivety = claim
Smith Applied in Scotland
Disclose - subopena questionable
More than agreement needed for security
Personal not real right
If advise not expounded as such, no claim
Instruction to solicitor not exculpatory
Debtor mistatement irrelevant
If forged paid, pay out twice
Customer duty only to take care in writing cheques
Smith interpreted resctrictively
Prescription runs from date due

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