Question Tag: Duties

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POB – LP OCT 2022 – L3 – Q4 – Collecting Bank Duties and Protections in Cheque Collection

A bank collects a stolen cheque for a fraudulent customer, opens an account after clearance, allows withdrawal, and faces a lawsuit from the drawer; questions cover definition of collecting bank, duties, statutory protections, common law defences, and applicability of protection.

Question

As a new Manager at the Edubiase branch of your bank, in the course of your work, your branch has collected a cheque for the account of a customer who turned out not to be the true owner of the cheque. Your Operations Manager did not open the account straightaway but for reasons unknown to you, he told the customer Timothy Ankrah that the bank would not open the account immediately but would only open the account if the cheque of GHC 500,000 the prospective account holder presented was cleared. After the cheque had cleared, your Operations Manager proceeded to open the account and the very next day, Timothy withdrew an amount of GHC 400,000.00 which he claimed was for the purchase of a car.

It transpires that the cheque had been stolen and Timothy was only an impersonator. Timothy is nowhere to be found.

The drawer of the cheque Mr. Banson has sued the bank for refund of the monies he has lost.

(a) What is a collecting bank? [2 Marks]

(b) Mention three duties of a collecting bank. [3 Marks]

(c) Mention and explain the statutory protection available to a collecting bank that collects a cheque for a party who is not the true owner of the cheque? [9 Marks] (d) What are the common law defences available to a collecting bank? [4 Marks]

(e) Will the bank be able to avail itself of the statutory protection? [2 Marks]

[Total marks:20]

Answer

Find Related Questions by Tags, levels, etc.

Tags: Bills of Exchange Act, Cheque Collection, collecting bank, common law defences, Conversion, Duties, Statutory Protection
Level: Level 3

Topic: Payments and collection of cheques and other instruments
Series: OCT 2022

PBL – APR 2024 – L1 – Q6 – Bank Duties to Customers and Secrecy Limitations

Discuss bank duties to customers and limitations on secrecy duty.

Question

(a) Discuss the Duties of a Bank to its Customer under the Bank/Customer Relationship. (15 marks)

(b) What are the limitations to the Duty of Secrecy and Confidentiality? (5 marks)

(Total – 20 marks)

Answer

Find Related Questions by Tags, levels, etc.

Tags: Banker-Customer Relationship, Banking Law, Confidentiality, Duties, Secrecy Exceptions
Level: Level 1

Topic: Conflicts of Law
Series: APR 2024

POB-LAW-APR-2016-L3-Q6-Debentures and Administrative Receivers

Scenario where a securities clerk asks the branch manager to explain what a debenture is, why the credit director requests a debenture over fixed and floating assets instead of just a fixed charge, and details on the meaning, appointment, and role of an administrative receiver for a company.

Question

As the Branch Manager of your High Street Branch in Accen, your Securities Clerk asks you the following questions:
a. We submitted any application to the Director/Credit showing the following details of Account X Ltd

Proposed Limit: GH$500,000,000;
Proposed Security: Fixed Charge over the factory, minimum forced sale value (FSV) GH$1,500,000,000 on a professional valuation.
The Director/Credit’s office has agreed to lend, but have expressed dissatisfaction with the security and have requested us to take a Debenture under.
Explain the following to your Clerk:
i. What is a Debenture?
ii. Why is the Director/Credit’s’ office requesting for a debenture over the company’s fixed and floating assets?
b. I have read some correspondence about the appointment of an “Administrative Receiver” for Z Limited. Can you explain what “Administrative Receiver” means, how the administrative receiver is appointed and what the administrative receiver does?

Answer

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Tags: Administrative Receiver, Appointment, Companies Act, Company Securities, Debenture, Duties, Fixed Charge, Floating Charge, Insolvency, Receivership
Level: Level 3

Topic: Securities Acceptable to Bankers
Series: APRIL 2016

TAX – May 2021 – L1 – SA – Q13 – Stamp Duties

Objective question about the functions of the Commissioner of Stamp Duties.

Question

Which of the following is NOT a function of a Commissioner of Stamp Duties?
A. He is the administrative head of the department
B. He has the duties of assessing documents on appropriate duties and imposing penalties where applicable
C. Adjudication
D. Stamping or embossments
E. He varies the stamp duties rate from time to time to reflect realities

Answer

Find Related Questions by Tags, levels, etc.

Tags: Adjudication, Administration, Commissioner, Duties, Penalties, Stamp Duties
Level: Level 1

Topic: Stamp Duties
Series: MAY 2021

BL – Nov 2015 – L1 – SA – Q6 – Company Law

Essential skills required for the exercise of auditor duties.

Question

The duties of an auditor are many and require the exercise of
A. Common Sense
B. Social Knowledge
C. Care and skill
D. Connection
E. Influence

Answer

Find Related Questions by Tags, levels, etc.

Tags: Auditors, Company Law, Duties, Multiple Choice
Level: Level 1

Topic: Company Law
Series: NOV 2015

BL – May 2018 – L1 – SA – Q13 – Partnership Law

Identify who fixes the duties of parties in tort.

Question

The duties of parties in tort are fixed by:
A. Law
B. The parties
C. Contract
D. The Executive
E. Governor

Answer

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Tags: Duties, Legal obligations, Tort
Level: Level 1

Topic: Partnership Law
Series: MAY 2018

BL – May 2022 – L1 – SB – Q4c – Law of Trusts

Explain five duties of a personal representative in estate administration.

Question

In the administration of estates, a personal representative has some duties.

Required:
Explain FIVE duties of a personal representative.

Answer

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Tags: Administration of Estates, Duties, Personal Representative
Level: Level 1

Topic: Law of Trusts
Series: MAY 2022

BL – May 2022 – L1 – SB – Q1c – Law Relating to Banking

State four duties of a bank customer.

Question

Mrs. Ore Nnaji recently opened a bank account and wonders what rights and duties she has on her account.

Required:
State FOUR duties of a bank customer.

Answer

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Tags: Bank Customer, Banking Law, Duties
Level: Level 1

Topic: Law Relating to Banking
Series: MAY 2022

BL – Nov 2022 – L1 – SB – Q3a – Company Law

Stating the duties and conditions for the removal of a company secretary.

Question

The Companies and Allied Matters Act (CAMA) provides that a public company shall have a Company Secretary.

Required:
i. State four duties of a Company Secretary (4 Marks)
ii. State four conditions for the removal of a Company Secretary from office (4 Marks)

Answer

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Tags: Company Secretary, Duties, Removal
Level: Level 1

Topic: Company Law
Series: NOV 2022

BL – Nov 2019 – L1 – SB – Q5d – Law of Trusts

Identifying the duties of a personal representative in the administration of estates.

Question

In the administration of estates, personal representatives take charge of a deceased’s estate.
Required:
State SIX duties of a personal representative. (6 Marks)

Answer

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Tags: Deceased’s estate, Duties, Estate Administration, Personal Representative
Level: Level 1

Topic: Law of Trusts
Series: NOV 2019

POB – LP OCT 2022 – L3 – Q4 – Collecting Bank Duties and Protections in Cheque Collection

A bank collects a stolen cheque for a fraudulent customer, opens an account after clearance, allows withdrawal, and faces a lawsuit from the drawer; questions cover definition of collecting bank, duties, statutory protections, common law defences, and applicability of protection.

Question

It transpires that the cheque had been stolen and Timothy was only an impersonator. Timothy is nowhere to be found.

The drawer of the cheque Mr. Banson has sued the bank for refund of the monies he has lost.

(a) What is a collecting bank? [2 Marks]

(b) Mention three duties of a collecting bank. [3 Marks]

(e) Will the bank be able to avail itself of the statutory protection? [2 Marks]

[Total marks:20]

Answer

Find Related Questions by Tags, levels, etc.

Tags: Bills of Exchange Act, Cheque Collection, collecting bank, common law defences, Conversion, Duties, Statutory Protection
Level: Level 3

Topic: Payments and collection of cheques and other instruments
Series: OCT 2022

PBL – APR 2024 – L1 – Q6 – Bank Duties to Customers and Secrecy Limitations

Discuss bank duties to customers and limitations on secrecy duty.

Question

(a) Discuss the Duties of a Bank to its Customer under the Bank/Customer Relationship. (15 marks)

(b) What are the limitations to the Duty of Secrecy and Confidentiality? (5 marks)

(Total – 20 marks)

Answer

Find Related Questions by Tags, levels, etc.

Tags: Banker-Customer Relationship, Banking Law, Confidentiality, Duties, Secrecy Exceptions
Level: Level 1

Topic: Conflicts of Law
Series: APR 2024

POB-LAW-APR-2016-L3-Q6-Debentures and Administrative Receivers

Scenario where a securities clerk asks the branch manager to explain what a debenture is, why the credit director requests a debenture over fixed and floating assets instead of just a fixed charge, and details on the meaning, appointment, and role of an administrative receiver for a company.

Question

Proposed Limit: GH$500,000,000;
Proposed Security: Fixed Charge over the factory, minimum forced sale value (FSV) GH$1,500,000,000 on a professional valuation.
The Director/Credit’s office has agreed to lend, but have expressed dissatisfaction with the security and have requested us to take a Debenture under.
Explain the following to your Clerk:
i. What is a Debenture?
ii. Why is the Director/Credit’s’ office requesting for a debenture over the company’s fixed and floating assets?
b. I have read some correspondence about the appointment of an “Administrative Receiver” for Z Limited. Can you explain what “Administrative Receiver” means, how the administrative receiver is appointed and what the administrative receiver does?

Answer

Find Related Questions by Tags, levels, etc.

Tags: Administrative Receiver, Appointment, Companies Act, Company Securities, Debenture, Duties, Fixed Charge, Floating Charge, Insolvency, Receivership
Level: Level 3

Topic: Securities Acceptable to Bankers
Series: APRIL 2016

TAX – May 2021 – L1 – SA – Q13 – Stamp Duties

Objective question about the functions of the Commissioner of Stamp Duties.

Question

Answer

Find Related Questions by Tags, levels, etc.

Tags: Adjudication, Administration, Commissioner, Duties, Penalties, Stamp Duties
Level: Level 1

Topic: Stamp Duties
Series: MAY 2021

BL – Nov 2015 – L1 – SA – Q6 – Company Law

Essential skills required for the exercise of auditor duties.

Question

The duties of an auditor are many and require the exercise of
A. Common Sense
B. Social Knowledge
C. Care and skill
D. Connection
E. Influence

Answer

Find Related Questions by Tags, levels, etc.

Tags: Auditors, Company Law, Duties, Multiple Choice
Level: Level 1

Topic: Company Law
Series: NOV 2015

BL – May 2018 – L1 – SA – Q13 – Partnership Law

Identify who fixes the duties of parties in tort.

Question

The duties of parties in tort are fixed by:
A. Law
B. The parties
C. Contract
D. The Executive
E. Governor

Answer

Find Related Questions by Tags, levels, etc.

Tags: Duties, Legal obligations, Tort
Level: Level 1

Topic: Partnership Law
Series: MAY 2018

BL – May 2022 – L1 – SB – Q4c – Law of Trusts

Explain five duties of a personal representative in estate administration.

Question

In the administration of estates, a personal representative has some duties.

Required:
Explain FIVE duties of a personal representative.

Answer

Find Related Questions by Tags, levels, etc.

Tags: Administration of Estates, Duties, Personal Representative
Level: Level 1

Topic: Law of Trusts
Series: MAY 2022

BL – May 2022 – L1 – SB – Q1c – Law Relating to Banking

State four duties of a bank customer.

Question

Mrs. Ore Nnaji recently opened a bank account and wonders what rights and duties she has on her account.

Required:
State FOUR duties of a bank customer.

Answer

Find Related Questions by Tags, levels, etc.

Tags: Bank Customer, Banking Law, Duties
Level: Level 1

Topic: Law Relating to Banking
Series: MAY 2022

BL – Nov 2022 – L1 – SB – Q3a – Company Law

Stating the duties and conditions for the removal of a company secretary.

Question

The Companies and Allied Matters Act (CAMA) provides that a public company shall have a Company Secretary.

Required:
i. State four duties of a Company Secretary (4 Marks)
ii. State four conditions for the removal of a Company Secretary from office (4 Marks)

Answer

Find Related Questions by Tags, levels, etc.

Tags: Company Secretary, Duties, Removal
Level: Level 1

Topic: Company Law
Series: NOV 2022

BL – Nov 2019 – L1 – SB – Q5d – Law of Trusts

Identifying the duties of a personal representative in the administration of estates.

Question

In the administration of estates, personal representatives take charge of a deceased’s estate.
Required:
State SIX duties of a personal representative. (6 Marks)

Answer

Find Related Questions by Tags, levels, etc.

Tags: Deceased’s estate, Duties, Estate Administration, Personal Representative
Level: Level 1

Topic: Law of Trusts
Series: NOV 2019

Question Tag: Duties

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POB – LP OCT 2022 – L3 – Q4 – Collecting Bank Duties and Protections in Cheque Collection

A bank collects a stolen cheque for a fraudulent customer, opens an account after clearance, allows withdrawal, and faces a lawsuit from the drawer; questions cover definition of collecting bank, duties, statutory protections, common law defences, and applicability of protection.

You're reporting an error for "POB – LP OCT 2022 – L3 – Q4 – Collecting Bank Duties and Protections in Cheque Collection"

PBL – APR 2024 – L1 – Q6 – Bank Duties to Customers and Secrecy Limitations

Discuss bank duties to customers and limitations on secrecy duty.

You're reporting an error for "PBL – APR 2024 – L1 – Q6 – Bank Duties to Customers and Secrecy Limitations"

POB-LAW-APR-2016-L3-Q6-Debentures and Administrative Receivers

Scenario where a securities clerk asks the branch manager to explain what a debenture is, why the credit director requests a debenture over fixed and floating assets instead of just a fixed charge, and details on the meaning, appointment, and role of an administrative receiver for a company.

You're reporting an error for "POB-LAW-APR-2016-L3-Q6-Debentures and Administrative Receivers"

TAX – May 2021 – L1 – SA – Q13 – Stamp Duties

Objective question about the functions of the Commissioner of Stamp Duties.

You're reporting an error for "TAX – May 2021 – L1 – SA – Q13 – Stamp Duties"

BL – Nov 2015 – L1 – SA – Q6 – Company Law

Essential skills required for the exercise of auditor duties.

You're reporting an error for "BL – Nov 2015 – L1 – SA – Q6 – Company Law"

BL – May 2018 – L1 – SA – Q13 – Partnership Law

Identify who fixes the duties of parties in tort.

You're reporting an error for "BL – May 2018 – L1 – SA – Q13 – Partnership Law"

BL – May 2022 – L1 – SB – Q4c – Law of Trusts

Explain five duties of a personal representative in estate administration.

You're reporting an error for "BL – May 2022 – L1 – SB – Q4c – Law of Trusts"

BL – May 2022 – L1 – SB – Q1c – Law Relating to Banking

State four duties of a bank customer.

You're reporting an error for "BL – May 2022 – L1 – SB – Q1c – Law Relating to Banking"

BL – Nov 2022 – L1 – SB – Q3a – Company Law

Stating the duties and conditions for the removal of a company secretary.

You're reporting an error for "BL – Nov 2022 – L1 – SB – Q3a – Company Law"

BL – Nov 2019 – L1 – SB – Q5d – Law of Trusts

Identifying the duties of a personal representative in the administration of estates.

You're reporting an error for "BL – Nov 2019 – L1 – SB – Q5d – Law of Trusts"

POB – LP OCT 2022 – L3 – Q4 – Collecting Bank Duties and Protections in Cheque Collection

A bank collects a stolen cheque for a fraudulent customer, opens an account after clearance, allows withdrawal, and faces a lawsuit from the drawer; questions cover definition of collecting bank, duties, statutory protections, common law defences, and applicability of protection.

You're reporting an error for "POB – LP OCT 2022 – L3 – Q4 – Collecting Bank Duties and Protections in Cheque Collection"

PBL – APR 2024 – L1 – Q6 – Bank Duties to Customers and Secrecy Limitations

Discuss bank duties to customers and limitations on secrecy duty.

You're reporting an error for "PBL – APR 2024 – L1 – Q6 – Bank Duties to Customers and Secrecy Limitations"

POB-LAW-APR-2016-L3-Q6-Debentures and Administrative Receivers

Scenario where a securities clerk asks the branch manager to explain what a debenture is, why the credit director requests a debenture over fixed and floating assets instead of just a fixed charge, and details on the meaning, appointment, and role of an administrative receiver for a company.

You're reporting an error for "POB-LAW-APR-2016-L3-Q6-Debentures and Administrative Receivers"

TAX – May 2021 – L1 – SA – Q13 – Stamp Duties

Objective question about the functions of the Commissioner of Stamp Duties.

You're reporting an error for "TAX – May 2021 – L1 – SA – Q13 – Stamp Duties"

BL – Nov 2015 – L1 – SA – Q6 – Company Law

Essential skills required for the exercise of auditor duties.

You're reporting an error for "BL – Nov 2015 – L1 – SA – Q6 – Company Law"

BL – May 2018 – L1 – SA – Q13 – Partnership Law

Identify who fixes the duties of parties in tort.

You're reporting an error for "BL – May 2018 – L1 – SA – Q13 – Partnership Law"

BL – May 2022 – L1 – SB – Q4c – Law of Trusts

Explain five duties of a personal representative in estate administration.

You're reporting an error for "BL – May 2022 – L1 – SB – Q4c – Law of Trusts"

BL – May 2022 – L1 – SB – Q1c – Law Relating to Banking

State four duties of a bank customer.

You're reporting an error for "BL – May 2022 – L1 – SB – Q1c – Law Relating to Banking"

BL – Nov 2022 – L1 – SB – Q3a – Company Law

Stating the duties and conditions for the removal of a company secretary.

You're reporting an error for "BL – Nov 2022 – L1 – SB – Q3a – Company Law"

BL – Nov 2019 – L1 – SB – Q5d – Law of Trusts

Identifying the duties of a personal representative in the administration of estates.

You're reporting an error for "BL – Nov 2019 – L1 – SB – Q5d – Law of Trusts"

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