Conversion – Knowsia

LPB – Oct 2019 – L3 – Q2 – Collecting Banker’s Responsibilities under s.81 BEAct 55

Explain the requirements for a collecting banker to obtain statutory protection under section 81 of the Bills of Exchange Act, 1961 (Act 55) when collecting proceeds of a cheque, including acting for a customer, in good faith, without negligence, and in accordance with endorsements and crossings.

Question

Banker’s function to collect proceeds of Cheques Collecting Banker and the Customer.

In United Dominion Trust (UDT) v Kirkwood (1966), it was held that the Banker also has a function to collect proceeds of a cheque for the credit of the Customer’s Account, wherewith, in performing this function, a Collecting Banker becomes a holder, who would receive payment for the Customer’s Account by presenting the said cheque to the Paying Banker for payment. Such transaction is usually dubbed, the Cheque Deposit!!!

By s. 81 BEAct 55, the Collecting Banker is under strict liability to perform the above function and obtain protection if, it does same for a customer, in good faith and without negligence. Others include, in accordance with the endorsement and to the crossing if any.

in accordance with s. 32(4) BEAct of 1961.
in line with s. 27 BEAct of 1961.
That no such endorsement by a legal person shall suffice or be valid.
That any deviation in the above would constitute “conversion”.

The Candidate, hearing in mind that the, “without negligence” test could date back as far as when the Account was opened for the Customer, is expected to:

demonstrate understanding of “Who the Customer is”, into such judicial decisions:
the Mathews v. William Brown & Co. (1894)
the Great Western Railway v. London and County Banking Co [1901]
Demon Malawi Ltd v. New Building Society (1991)
Ladbroke v Todd [1914];
Commissioner for Taxes v English, Scottish and Australian Bank [1920] and
Wood v Martin’s Bank Ltd [1959]

Required: State and explain what is required of the Collecting Banker to obtain protection under s. 81 BEAct 55.

Answer

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Tags: Cheque Collection, Collecting Banker, Conversion, Crossing, customer definition, Endorsement, Good Faith, Judicial Decisions, Without Negligence
Level: Level 3

Topic: Banker and Customer Relationship
Series: October 2019

PBL – APR 2016 – L1 – Q8 – Contributory Negligence and Distinction Between Conversion and Detinue

Explain contributory negligence and distinguish between conversion and detinue in the context of banking law.

Question

(a) Explain the term Contributory Negligence. (b) Distinguish between Conversion and Detinue.

Answer

Find Related Questions by Tags, levels, etc.

Tags: Bank Liability, Contributory Negligence, Conversion, Detinue, Ghanaian common law, Law of Tort, negligence defenses, property torts
Level: Level 1

Topic: Law of Tort
Series: APRIL 2016

BL – Nov 2020 – L1 – SB – Q6a – The Nigerian Legal System

List tests to determine intent to steal during taking or conversion.

Question

Taking or conversion with intent to defraud is an element of stealing.

Required:
State FIVE tests of determining whether or not an accused has an intention to steal at the time of taking or converting a thing.

Answer

Find Related Questions by Tags, levels, etc.

Tags: Conversion, Criminal Intent, Criminal Law, Fraud, Theft
Level: Level 1

Topic: The Nigerian Legal System
Series: NOV 2020

BL – May 2024 – L1 – SB – Q4c – Law of Trusts

This question tests candidates on the concept of conversion, particularly fraudulent intent with respect to money and misappropriation in criminal law.

Question

c. For the conversion of a movable thing to amount to stealing, the prosecution must prove a fraudulent intent.

i. Explain what the intent states concerning money.

(4 Marks)
ii. James promised to send some people to Canada on scholarship. He collected money from them for the purpose. He did not send them and did not refund the money on demand or within a reasonable time. Explain the liability of James, if any. (4 Marks)

(Total 8 Marks)

Answer

Find Related Questions by Tags, levels, etc.

Tags: Conversion, Criminal Law, Fraudulent Intent, Misappropriation, Stealing
Level: Level 1

Topic: Law of Trusts
Series: MAY 2024

FA – Mar/July 2020 – L1 – SB – Q2d – Double-Entry Accounting Principles

Steps required to convert single entry and incomplete records to double entry.

Question

State SIX steps necessary for converting from single entry and incomplete records to double entry. (6 Marks)

Answer

Find Related Questions by Tags, levels, etc.

Tags: Accounting Records, Conversion, Double Entry, Single Entry
Level: Level 1

Topic: Double-Entry Accounting Principles
Series: MAR/JULY 2020

BCL – Nov 2023 – L1 – Q4c – Types of Capital and the Financing of Companies

Explain the process for converting a company limited by shares into a company limited by guarantee.

Question

c) How may a company limited by shares convert to a company limited by guarantee? (5 marks)

Answer

Find Related Questions by Tags, levels, etc.

Tags: Company Law, Company Limited by Guarantee, Company Limited by Shares, Conversion
Level: Level 1

Topic: Types of capital and the financing of companies
Series: NOV 2023

LPB – Oct 2019 – L3 – Q2 – Collecting Banker’s Responsibilities under s.81 BEAct 55

Explain the requirements for a collecting banker to obtain statutory protection under section 81 of the Bills of Exchange Act, 1961 (Act 55) when collecting proceeds of a cheque, including acting for a customer, in good faith, without negligence, and in accordance with endorsements and crossings.

Question

Banker’s function to collect proceeds of Cheques Collecting Banker and the Customer.

in accordance with s. 32(4) BEAct of 1961.
in line with s. 27 BEAct of 1961.
That no such endorsement by a legal person shall suffice or be valid.
That any deviation in the above would constitute “conversion”.

The Candidate, hearing in mind that the, “without negligence” test could date back as far as when the Account was opened for the Customer, is expected to:

demonstrate understanding of “Who the Customer is”, into such judicial decisions:
the Mathews v. William Brown & Co. (1894)
the Great Western Railway v. London and County Banking Co [1901]
Demon Malawi Ltd v. New Building Society (1991)
Ladbroke v Todd [1914];
Commissioner for Taxes v English, Scottish and Australian Bank [1920] and
Wood v Martin’s Bank Ltd [1959]

Required: State and explain what is required of the Collecting Banker to obtain protection under s. 81 BEAct 55.

Answer

Find Related Questions by Tags, levels, etc.

Tags: Cheque Collection, Collecting Banker, Conversion, Crossing, customer definition, Endorsement, Good Faith, Judicial Decisions, Without Negligence
Level: Level 3

Topic: Banker and Customer Relationship
Series: October 2019

PBL – APR 2016 – L1 – Q8 – Contributory Negligence and Distinction Between Conversion and Detinue

Explain contributory negligence and distinguish between conversion and detinue in the context of banking law.

Question

(a) Explain the term Contributory Negligence. (b) Distinguish between Conversion and Detinue.

Answer

Find Related Questions by Tags, levels, etc.

Tags: Bank Liability, Contributory Negligence, Conversion, Detinue, Ghanaian common law, Law of Tort, negligence defenses, property torts
Level: Level 1

Topic: Law of Tort
Series: APRIL 2016

BL – Nov 2020 – L1 – SB – Q6a – The Nigerian Legal System

List tests to determine intent to steal during taking or conversion.

Question

Taking or conversion with intent to defraud is an element of stealing.

Required:
State FIVE tests of determining whether or not an accused has an intention to steal at the time of taking or converting a thing.

Answer

Find Related Questions by Tags, levels, etc.

Tags: Conversion, Criminal Intent, Criminal Law, Fraud, Theft
Level: Level 1

Topic: The Nigerian Legal System
Series: NOV 2020

BL – May 2024 – L1 – SB – Q4c – Law of Trusts

This question tests candidates on the concept of conversion, particularly fraudulent intent with respect to money and misappropriation in criminal law.

Question

c. For the conversion of a movable thing to amount to stealing, the prosecution must prove a fraudulent intent.

i. Explain what the intent states concerning money.

(Total 8 Marks)

Answer

Find Related Questions by Tags, levels, etc.

Tags: Conversion, Criminal Law, Fraudulent Intent, Misappropriation, Stealing
Level: Level 1

Topic: Law of Trusts
Series: MAY 2024

FA – Mar/July 2020 – L1 – SB – Q2d – Double-Entry Accounting Principles

Steps required to convert single entry and incomplete records to double entry.

Question

State SIX steps necessary for converting from single entry and incomplete records to double entry. (6 Marks)

Answer

Find Related Questions by Tags, levels, etc.

Tags: Accounting Records, Conversion, Double Entry, Single Entry
Level: Level 1

Topic: Double-Entry Accounting Principles
Series: MAR/JULY 2020

BCL – Nov 2023 – L1 – Q4c – Types of Capital and the Financing of Companies

Explain the process for converting a company limited by shares into a company limited by guarantee.

Question

c) How may a company limited by shares convert to a company limited by guarantee? (5 marks)

Answer

Find Related Questions by Tags, levels, etc.

Tags: Company Law, Company Limited by Guarantee, Company Limited by Shares, Conversion
Level: Level 1

Topic: Types of capital and the financing of companies
Series: NOV 2023

Question Tag: Conversion

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LPB – Oct 2019 – L3 – Q2 – Collecting Banker’s Responsibilities under s.81 BEAct 55

Explain the requirements for a collecting banker to obtain statutory protection under section 81 of the Bills of Exchange Act, 1961 (Act 55) when collecting proceeds of a cheque, including acting for a customer, in good faith, without negligence, and in accordance with endorsements and crossings.

PBL – APR 2016 – L1 – Q8 – Contributory Negligence and Distinction Between Conversion and Detinue

Explain contributory negligence and distinguish between conversion and detinue in the context of banking law.

BL – Nov 2020 – L1 – SB – Q6a – The Nigerian Legal System

List tests to determine intent to steal during taking or conversion.

BL – May 2024 – L1 – SB – Q4c – Law of Trusts

This question tests candidates on the concept of conversion, particularly fraudulent intent with respect to money and misappropriation in criminal law.

FA – Mar/July 2020 – L1 – SB – Q2d – Double-Entry Accounting Principles

Steps required to convert single entry and incomplete records to double entry.

BCL – Nov 2023 – L1 – Q4c – Types of Capital and the Financing of Companies

Explain the process for converting a company limited by shares into a company limited by guarantee.

LPB – Oct 2019 – L3 – Q2 – Collecting Banker’s Responsibilities under s.81 BEAct 55

Explain the requirements for a collecting banker to obtain statutory protection under section 81 of the Bills of Exchange Act, 1961 (Act 55) when collecting proceeds of a cheque, including acting for a customer, in good faith, without negligence, and in accordance with endorsements and crossings.

PBL – APR 2016 – L1 – Q8 – Contributory Negligence and Distinction Between Conversion and Detinue

Explain contributory negligence and distinguish between conversion and detinue in the context of banking law.

BL – Nov 2020 – L1 – SB – Q6a – The Nigerian Legal System

List tests to determine intent to steal during taking or conversion.

BL – May 2024 – L1 – SB – Q4c – Law of Trusts

This question tests candidates on the concept of conversion, particularly fraudulent intent with respect to money and misappropriation in criminal law.

FA – Mar/July 2020 – L1 – SB – Q2d – Double-Entry Accounting Principles

Steps required to convert single entry and incomplete records to double entry.

BCL – Nov 2023 – L1 – Q4c – Types of Capital and the Financing of Companies

Explain the process for converting a company limited by shares into a company limited by guarantee.

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LPB – Oct 2019 – L3 – Q2 – Collecting Banker’s Responsibilities under s.81 BEAct 55

Explain the requirements for a collecting banker to obtain statutory protection under section 81 of the Bills of Exchange Act, 1961 (Act 55) when collecting proceeds of a cheque, including acting for a customer, in good faith, without negligence, and in accordance with endorsements and crossings.

You're reporting an error for "LPB – Oct 2019 – L3 – Q2 – Collecting Banker’s Responsibilities under s.81 BEAct 55"

PBL – APR 2016 – L1 – Q8 – Contributory Negligence and Distinction Between Conversion and Detinue

Explain contributory negligence and distinguish between conversion and detinue in the context of banking law.

You're reporting an error for "PBL – APR 2016 – L1 – Q8 – Contributory Negligence and Distinction Between Conversion and Detinue"

BL – Nov 2020 – L1 – SB – Q6a – The Nigerian Legal System

List tests to determine intent to steal during taking or conversion.

You're reporting an error for "BL – Nov 2020 – L1 – SB – Q6a – The Nigerian Legal System"

BL – May 2024 – L1 – SB – Q4c – Law of Trusts

This question tests candidates on the concept of conversion, particularly fraudulent intent with respect to money and misappropriation in criminal law.

You're reporting an error for "BL – May 2024 – L1 – SB – Q4c – Law of Trusts"

FA – Mar/July 2020 – L1 – SB – Q2d – Double-Entry Accounting Principles

Steps required to convert single entry and incomplete records to double entry.

You're reporting an error for "FA – Mar/July 2020 – L1 – SB – Q2d – Double-Entry Accounting Principles"

BCL – Nov 2023 – L1 – Q4c – Types of Capital and the Financing of Companies

Explain the process for converting a company limited by shares into a company limited by guarantee.

You're reporting an error for "BCL – Nov 2023 – L1 – Q4c – Types of Capital and the Financing of Companies"

LPB – Oct 2019 – L3 – Q2 – Collecting Banker’s Responsibilities under s.81 BEAct 55

Explain the requirements for a collecting banker to obtain statutory protection under section 81 of the Bills of Exchange Act, 1961 (Act 55) when collecting proceeds of a cheque, including acting for a customer, in good faith, without negligence, and in accordance with endorsements and crossings.

You're reporting an error for "LPB – Oct 2019 – L3 – Q2 – Collecting Banker’s Responsibilities under s.81 BEAct 55"

PBL – APR 2016 – L1 – Q8 – Contributory Negligence and Distinction Between Conversion and Detinue

Explain contributory negligence and distinguish between conversion and detinue in the context of banking law.

You're reporting an error for "PBL – APR 2016 – L1 – Q8 – Contributory Negligence and Distinction Between Conversion and Detinue"

BL – Nov 2020 – L1 – SB – Q6a – The Nigerian Legal System

List tests to determine intent to steal during taking or conversion.

You're reporting an error for "BL – Nov 2020 – L1 – SB – Q6a – The Nigerian Legal System"

BL – May 2024 – L1 – SB – Q4c – Law of Trusts

This question tests candidates on the concept of conversion, particularly fraudulent intent with respect to money and misappropriation in criminal law.

You're reporting an error for "BL – May 2024 – L1 – SB – Q4c – Law of Trusts"

FA – Mar/July 2020 – L1 – SB – Q2d – Double-Entry Accounting Principles

Steps required to convert single entry and incomplete records to double entry.

You're reporting an error for "FA – Mar/July 2020 – L1 – SB – Q2d – Double-Entry Accounting Principles"

BCL – Nov 2023 – L1 – Q4c – Types of Capital and the Financing of Companies

Explain the process for converting a company limited by shares into a company limited by guarantee.

You're reporting an error for "BCL – Nov 2023 – L1 – Q4c – Types of Capital and the Financing of Companies"

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