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Your customer Jimmy Moore has operated an account with you for the past ten years. Over the past year however you observe that Jimmy Moore has developed the habit of issuing cheques and countermanding payment of the cheques. You aware from reliable sources that he is indebted to a host of creditors who are on his neck. You also note that he is engaged in the bank. You have to a bank account with you have to a bank account with you have to a bank account with you had a meeting with him during which he explodes in anger and threatens to close his account with you.
Two days, later a cheque of GHC 15,500 issued by Jimmy is presented through clearing by another bank against a balance of GHC 15,3000 standing to the credit of his account. Your Open account against a balance of GHC 15,3000 standing to the credit of his account. You close the account, transferring the balance of GHC 200 to commissions and fees.
Later a credit of GHC 15,000 was received in favor of Jimmy being proceeds of Treasury Bills he had invested in. That same day the bank received a cheque through clearing drawn by Jimmy which your operations manager returned with the reason. “Account Closed”.
Jimmy is now at your banking premises today fuming with rage and threatening to proceed to count for redress.
(a) Mention the five circumstances that would lead to the determination of the banker customer contract. (b) The banker customer relationship has been said to continue notwithstanding the determination of the banker customer contract. Do you agree? Explain supporting your answer with relevant legal authority. (c) Discuss the bank’s position in the scenario above clearly explaining the legal principle, underlying your argument.
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Your customer Jimmy Moore has operated an account with you for the past ten years. Over the past year however you observe that Jimmy Moore has developed the habit of issuing cheques and countermanding payment of the cheques. You aware from reliable sources that he is indebted to a host of creditors who are on his neck. You also note that he is engaged in the bank. You have to a bank account with you have to a bank account with you have to a bank account with you had a meeting with him during which he explodes in anger and threatens to close his account with you.
Two days, later a cheque of GHC 15,500 issued by Jimmy is presented through clearing by another bank against a balance of GHC 15,3000 standing to the credit of his account. Your Open account against a balance of GHC 15,3000 standing to the credit of his account. You close the account, transferring the balance of GHC 200 to commissions and fees.
Later a credit of GHC 15,000 was received in favor of Jimmy being proceeds of Treasury Bills he had invested in. That same day the bank received a cheque through clearing drawn by Jimmy which your operations manager returned with the reason. “Account Closed”.
Jimmy is now at your banking premises today fuming with rage and threatening to proceed to count for redress.
(a) Mention the five circumstances that would lead to the determination of the banker customer contract. (b) The banker customer relationship has been said to continue notwithstanding the determination of the banker customer contract. Do you agree? Explain supporting your answer with relevant legal authority. (c) Discuss the bank’s position in the scenario above clearly explaining the legal principle, underlying your argument.
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4. A situation in which the court would disregard the distinction between the personalities of a company and its members is
A. Subrogation
B. Alienation
C. Lifting the veil of incorporation
D. Disregarding the law
E. The rule in Foss vs. Habbotle
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Find Related Questions by Tags, levels, etc.
Find Related Questions by Tags, levels, etc.
Mr. Agbons pledged his tricycle to secure a loan of N200,000 from Chief Osas, a moneylender. Mr. Agbons promised to repay the loan on December 31 and recover his tricycle from Chief Osas. However, Chief Osas sold the tricycle on December 28 when he learned that Mr. Agbons had relocated to his village to be a farmer and might not return again. On the morning of December 31, Mr. Agbons came to meet Chief Osas to repay the N200,000, only to learn that the tricycle had been sold by Chief Osas. Mr. Agbons is aggrieved and intends to sue Chief Osas for the replacement of his tricycle.
Required:
Advise Mr. Agbons, stating the legal principle involved.
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Find Related Questions by Tags, levels, etc.
Find Related Questions by Tags, levels, etc.
Find Related Questions by Tags, levels, etc.
Your customer Jimmy Moore has operated an account with you for the past ten years. Over the past year however you observe that Jimmy Moore has developed the habit of issuing cheques and countermanding payment of the cheques. You aware from reliable sources that he is indebted to a host of creditors who are on his neck. You also note that he is engaged in the bank. You have to a bank account with you have to a bank account with you have to a bank account with you had a meeting with him during which he explodes in anger and threatens to close his account with you.
Two days, later a cheque of GHC 15,500 issued by Jimmy is presented through clearing by another bank against a balance of GHC 15,3000 standing to the credit of his account. Your Open account against a balance of GHC 15,3000 standing to the credit of his account. You close the account, transferring the balance of GHC 200 to commissions and fees.
Later a credit of GHC 15,000 was received in favor of Jimmy being proceeds of Treasury Bills he had invested in. That same day the bank received a cheque through clearing drawn by Jimmy which your operations manager returned with the reason. “Account Closed”.
Jimmy is now at your banking premises today fuming with rage and threatening to proceed to count for redress.
(a) Mention the five circumstances that would lead to the determination of the banker customer contract. (b) The banker customer relationship has been said to continue notwithstanding the determination of the banker customer contract. Do you agree? Explain supporting your answer with relevant legal authority. (c) Discuss the bank’s position in the scenario above clearly explaining the legal principle, underlying your argument.
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Your customer Jimmy Moore has operated an account with you for the past ten years. Over the past year however you observe that Jimmy Moore has developed the habit of issuing cheques and countermanding payment of the cheques. You aware from reliable sources that he is indebted to a host of creditors who are on his neck. You also note that he is engaged in the bank. You have to a bank account with you have to a bank account with you have to a bank account with you had a meeting with him during which he explodes in anger and threatens to close his account with you.
Two days, later a cheque of GHC 15,500 issued by Jimmy is presented through clearing by another bank against a balance of GHC 15,3000 standing to the credit of his account. Your Open account against a balance of GHC 15,3000 standing to the credit of his account. You close the account, transferring the balance of GHC 200 to commissions and fees.
Later a credit of GHC 15,000 was received in favor of Jimmy being proceeds of Treasury Bills he had invested in. That same day the bank received a cheque through clearing drawn by Jimmy which your operations manager returned with the reason. “Account Closed”.
Jimmy is now at your banking premises today fuming with rage and threatening to proceed to count for redress.
(a) Mention the five circumstances that would lead to the determination of the banker customer contract. (b) The banker customer relationship has been said to continue notwithstanding the determination of the banker customer contract. Do you agree? Explain supporting your answer with relevant legal authority. (c) Discuss the bank’s position in the scenario above clearly explaining the legal principle, underlying your argument.
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4. A situation in which the court would disregard the distinction between the personalities of a company and its members is
A. Subrogation
B. Alienation
C. Lifting the veil of incorporation
D. Disregarding the law
E. The rule in Foss vs. Habbotle
Find Related Questions by Tags, levels, etc.
Find Related Questions by Tags, levels, etc.
Find Related Questions by Tags, levels, etc.
Mr. Agbons pledged his tricycle to secure a loan of N200,000 from Chief Osas, a moneylender. Mr. Agbons promised to repay the loan on December 31 and recover his tricycle from Chief Osas. However, Chief Osas sold the tricycle on December 28 when he learned that Mr. Agbons had relocated to his village to be a farmer and might not return again. On the morning of December 31, Mr. Agbons came to meet Chief Osas to repay the N200,000, only to learn that the tricycle had been sold by Chief Osas. Mr. Agbons is aggrieved and intends to sue Chief Osas for the replacement of his tricycle.
Required:
Advise Mr. Agbons, stating the legal principle involved.
Find Related Questions by Tags, levels, etc.
Find Related Questions by Tags, levels, etc.
Find Related Questions by Tags, levels, etc.
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