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

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