Miscellaneous Quiz / Banking Law

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Can you name the Banker/Customer relationship?

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

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