Series: APRIL 2016

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PBL – APR 2016 – L1 – Q8 – Contributory Negligence and Torts

Explain contributory negligence, and distinguish between conversion and detinue.

Question

a. Explain the term Contributory Negligence.

b. Distinguish between Conversion and Detinue.

Answer

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Tags: Contributory Negligence, Conversion, Detinue, Tort Distinctions
Level: Level 1

Topic: Law of Tort
Series: APRIL 2016

PBL – APR 2016 – L1 – Q7 – Mortgages and Recovery Options

Explain second and sub-mortgages, and options for bank to recover defaulted loan secured by house, with recommendation

Question

a. Explain the following i. A second mortgage [5 Marks] ii. A sub-mortgage [5 Marks]

b. A borrowed GHS60000.00 from XYZ Bank Limited secured with his house at East Legon. A has defaulted in the payment of the money. What options are available to the bank and which would you recommend to the bank for the recovery of its money?

Answer

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Tags: econd Mortgage, Loan Default, Recovery Methods, sub-mortgage
Level: Level 1

Topic: Property and its Uses as Security
Series: APRIL 2016

PBL – APR 2016 – L1 – Q6 – Banker-Customer Relationship

Define a bank customer and the basic banker-customer relationship, and outline bank's rights over customer accounts.

Question

a. i. Who is a customer of a bank?

ii. What is the basic relationship between a bank and its customer?

b. What rights does the bank have in relation to its customers’ account?

Answer

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Tags: Bank Customer Definition, Bank Rights over Accounts, Relationship Nature
Level: Level 1

Topic: Contract Law
Series: APRIL 2016

PBL – APR 2016 – L1 – Q5 – Private vs Public Limited Liability Companies and Conversion

State differences between private and public limited liability companies, and describe conversion from private to public.

Question

a. State the difference between a Private Limited Liability Company and a Public Limited Liability Company

b. Briefly describe how a Private Limited Liability Company may be converted into a Public Limited Liability Company

Answer

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Tags: Company Types, Conversion Process, Private Limited, Public Limited
Level: Level 1

Topic: Contract Law
Series: APRIL 2016

PBL – APR 2016 – L1 – Q4 – Executors, Administrators, and Will Revocation

State differences between executor and administrator as personal representatives of a deceased, and how a will may be revoked.

Question

a. State the differences between an executor and an administrator as personal representatives of a deceased.

b. How may a will be revoked.

Answer

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Tags: Executor vs Administrator, Personal Representatives, Will Revocation Methods
Level: Level 1

Topic: Succession (Testate and Intestate)
Series: APRIL 2016

PBL – APR 2016 – L1 – Q3 – Courts of Judicature in Ghana

Name Ghana's Superior Courts, describe the Supreme Court's original jurisdiction and when duly constituted, and explain how courts interpret constitutional provisions.

Question

a. Name the Superior Courts of Judicature in Ghana.

b. Describe the original jurisdiction of the highest court. When is it said to be duly constituted.

c. In what manner is a court of competent jurisdiction obliged to interpret a provision of the Constitution or any other law.

Answer

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Tags: Court Constitution, Original Jurisdiction, Statutory Interpretation, Superior Courts
Level: Level 1

Topic: Conflict Resolution
Series: APRIL 2016

PBL – APR 2016 – L1 – Q2 – Maxims of Equity

Examine the equity maxims: Equality is Equity, Equity will not suffer a wrong without a remedy, and He who comes into Equity must come with clean hands.

Question

a. Examine the following maxims of Equity

i. Equality is Equity. [6 Marks]

ii. Equity will not suffer a wrong to be without a remedy. [6 Marks]

iii. He who comes into Equity must come with clean hands.

Answer

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Tags: Clean Hands Doctrine, Equality is Equity, Equity Maxims, Remedy for Wrongs
Level: Level 1

Topic: Sources of Law
Series: APRIL 2016

PBL – APR 2016 – L1 – Q1 – Cheques, Crossings, Authority Revocation, and Banker’s Draft

Define a cheque, explain types of crossings and effects, list circumstances for revoking banker's authority to pay cheques, and explain why a banker's draft is not a cheque.

Question

a. What is a cheque? (6 marks)

b. Explain the various types of crossing on a cheque and their effect. (8 marks)

c. Give four circumstances in which the authority of a Banker to pay cheques may be revoked or determined. (8 marks)

d. Why is a Banker’s draft not a cheque?

Answer

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Tags: Banker Authority, Bankers Draft, Cheques, Crossing Types, Revocation Circumstances
Level: Level 1

Topic: Cheques and other Means of Payment
Series: APRIL 2016

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

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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

PBL – APR 2016 – L1 – Q7 – Mortgages and Default Recovery

Explain second mortgage and sub-mortgage; outline options for a bank to recover a defaulted GHS600,000 loan secured by a house and recommend one.

Question

(a) Explain the following I. A second mortgage ii. A sub-mortgage (b) A borrowed GHS600,000.00 from XYZ Bank Limited secured with his house at East Legon. A has defaulted in the payment of the money. What options are available to the bank, and which would you recommend to the bank for the recovery of its money?

Answer

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Tags: bank remedies, debt enforcement, Ghanaian land law, mortgage default, Property Security, recovery options, Second mortgage, sub-mortgage
Level: Level 1

Topic: Property and its Uses as Security
Series: APRIL 2016

PBL – APR 2016 – L1 – Q6 – Banker-Customer Relationship

Define a bank customer, explain the basic banker-customer relationship, and outline the rights banks have over customer accounts.

Question

(a) Who is a customer of a bank? ii. What is the basic relationship between a bank and its customer? (b) What rights does the bank have in relation to its customers’ account?

Answer

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Tags: bank rights, Banker-Customer Relationship, Contract Law, customer accounts, customer definition, duties of banks, Ghanaian Banking Regulations
Level: Level 1

Topic: Contract Law
Series: APRIL 2016

PBL – APR 2016 – L1 – Q5 – Private vs Public Limited Liability Companies and Conversion

Differences between a private limited liability company and a public limited liability company, and the process for converting a private company to a public one.

Question

(a) State the difference between a Private Limited Liability Company and a Public Limited Liability Company (b) Briefly describe how a Private Limited Liability company may be converted into a Public Limited Liability Company.

Answer

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Tags: Banking Customers, Borrowing Capacity, Company Law, Conversion Process, Corporate Governance, Differences, Ghana Companies Act, Private Limited Company, Public Limited Company
Level: Level 1

Topic: Contract Law
Series: APRIL 2016

PBL – APR 2016 – L1 – Q4 – Executors vs Administrators and Will Revocation

Differences between an executor and an administrator as personal representatives of a deceased person, and methods by which a will may be revoked.

Question

(a) State the differences between an executor and an administrator as personal representatives of a deceased. (b) How may a will be revoked.

Answer

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Tags: Administrators, Banking Implications, Deceased Estates, Executors, Intestate, Personal Representatives, Succession Law, Testate, Will Revocation
Level: Level 1

Topic: Succession (Testate and Intestate)
Series: APRIL 2016

PBL – APR 2016 – L1 – Q2- Equity Maxims Examination

Examine three maxims of equity: Equality is Equity; Equity will not suffer a wrong to be without a remedy; He who comes into Equity must come with clean hands.

Question

(a) Examine the following maxims of Equity

(i) Equality is Equity

(ii) Equity will not suffer a wrong to be without a remedy.

(iii) He who comes into Equity must come with clean hands.

Answer

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Tags: Banking Applications, Clean Hands Doctrine, Equality is Equity, Equitable Remedies, Equity Maxims, Wrong Without Remedy
Level: Level 1

Topic: Banker and Customer Relationship
Series: APRIL 2016

PBL – APR 2016 – L1 – Q1- Cheques Definition Crossings Revocation Draft

Define a cheque; explain types of crossings and effects; circumstances for revocation of banker's authority to pay cheques; why a banker's draft is not a cheque.

Question

a. What is a cheque?

b. Explain the various types of crossing on a cheque and their effect.

c. Give four circumstances in which the authority of a Banker to pay cheques may be revoked or determined. Why is a Banker’s draft not a cheque?

Answer

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Tags: Banker Authority Revocation, Bankers Draft, Cheque Definition, Crossings Types, Effects
Level: Level 1

Topic: Banking Transactions
Series: APRIL 2016

POB-LAW-APR-2016-L3-Q7-Guarantees and Handling Prospective Guarantors

Scenario where a customer's overdrawn account requires a guarantee from a friend/business associate who sees it as a formality and owes the principal debtor money; how to handle the situation and meeting actions, and if different if the guarantor is not a company director.

Question

Your Private Banking customer, Reginald Tageo’s account is overdrawn GHS4,000,00 and you have called on him to provide security. He telephoned last Friday and told you he can only provide a guarantee from his friend and a business associate Kofi Darko who is a customer known to you, will visit your branch to meet with you in this regard. Kofi Darko is a Director in the KofDarko Building & Civil Engineering Works Ltd which has an account with your KofOrndua Branch.

This afternoon, Kofi Darko indeed called to seek an appointment to enable him visit your office to discuss the guarantee, and indicated that when Reginald Tageo requested him to sign a guarantee as security for his indebtedness, he had sign a reservations, but has come to learn that it is a formality and he is happy to sign for the sake of their friendship.

He added that he owes Reginald Tageo GHS5,000,000,00 in respect of some subcontracted works he has recently completed.
a) How will you handle this situation and what action will you take during your meeting with him?

b) Would your answer be the same if Kofi Darko had not been a director in a limited liability company?

Answer

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Tags: Banker Duties, Confidentiality, Debt Set-Off, Director Liability, Friendship Guarantees, Guarantees, Independent Advice, Misapprehension, Regulatory Compliance, Securities
Level: Level 3

Topic: Securities Acceptable to Bankers
Series: APRIL 2016

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

LPB – APR 2016 – L3 – Q5 – Bank’s Position on Assignment of Term Life Policy as Security

Discuss bank's position on legal assignment of a term life policy as additional security for a mortgage, how assignment is taken and priority over subsequent assignments, effect if premiums stop, payout if suicide, and differences if endowment policy.

Question

The PREDEQ bank gives a mortgage of land for a customer0 \mathrm{}$ and, as an additional security, took an assignment of a 30-year Term Life Policy (not endowment situation) over the customer’s life – the policy monies being payable to the customer’s wife, at maturity on his death. Discuss this bank’s position in the following circumstances:

(a) How the Legal Assignment of the Policy was taken by the PREDEQ Bank: Supposing that someone else, at a later date, also takes an assignment of the Policy, which of the 2 assignments would have priority over the other?

(b) What would happen to the PREDEQ Bank’s security if the customer stopped paying the premiums?

(c) Would the Policy monies be payable if the customer committed suicide?

(d) Will the position be any different of the Policy was an Endowment Life Policy? If yes, indicate

Answer

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Tags: Assignment, Banking Advances, Endowment, Life Policies, Premiums, Priority, Security, Suicide, Term Life
Level: Level 2

Topic: Life policies, Securities Acceptable to Bankers
Series: APRIL 2016

LPB – APR 2016 – L3 – Q4 – Bank’s Position on Partial Cash Deposit During Robbery

Scenario involving a cash deposit partially counted before a robbery; determine bank's liability for crediting only the checked amount and if unchanged if no check occurred.

Question

Yesterday, as the Director of the Retail Banking Division of your bank, your secretary informed you that, two gentlemen from the KYC Restaurant called to have an appointment and you agreed a meeting at 1000hours today.

At 09:45 hours Mr Eric Tagoe and Mr Bright Quarter introduced themselves as KFC’s Legal Advisor and Director of Compliance & Anti-Money Laundering Reporting Officer respectively. Discussions indicated that, the KFC Restaurant presented a Cash Deposit transaction for GHS150 00000 to the East Legion Branch yesterday, but their account has been credited with GHS100,00000 only. You excused these gentlemen and called the East Legion Branch Manager who notified you of the following

That a KFC Teller presented Cash of GHS150,00000 and a Cash Deposit slip for same to the bank’s Teller and that this transaction was one of the lots which were affected to the armed robber attack on the Branch.
That Genevieve, your bank’s Teller received the lot and the Cash Deposit subject to check and subsequent credit to the KFC Restaurant account.
That just after checking the GHS150,00 and GHS20000 denominations making a total of GHS100,00000 and indicating same on the cash deposit slip, 3 armed men attacked the Branch and made away with nearly all the cash at the BOC.
The Teller referred the matter to the Branch Manager, who directed that because the Teller had checked only GHS100,00000 will square a credit of GHS100,00000 only to the account. a) What is the bank’s position in this matter? b) Will this position change if the Teller had not checked the cash at all

Answer

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Tags: Banker-Customer Relationship, Cash Acceptance, Debtor-creditor relationship, Deposits, Internal Controls, Ownership of Money, Robbery
Level: Level 3

Topic: Banker and Customer Relationship, Deposits, Ownership of Money
Series: APRIL 2016

LPB – APR 2016 – L3 – Q2 – Duties of Power of Attorney Holder and Revocation Instances

List five legal duties imposed on the holder of a power of attorney in banking contexts; list five instances where a power of attorney is automatically revoked besides explicit cancellation by the donor.

Question

(i) In banking, a customer, as a donor, may give a third party, to the banking contract, a power of attorney to operate a sand bank account. The power of attorney may be special or specific (to operate the bank account or other specific power like the sale of property) or general (which may give the holder authority to act on the customer’s behalf for many activities including banking). A power of attorney arrangement creates some duties on the part of the attorney. List 5 (five) of the duties that are imposed by law on the holder of a power of attorney.

(ii) Just as a customer can give a power of attorney, the donor can also cancel it by revocation. Besides a cancellation order, revocation may also result automatically from various events. List 5 (five) instances in which a power of attorney can be revoked.

Answer

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Tags: Agency in banking, Attorney duties, Automatic termination, Banking mandates, Donor-attorney obligations, Legal events affecting PoA, Power of Attorney, Revocation of power
Level: Level 3

Series: APRIL 2016

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PBL – APR 2016 – L1 – Q8 – Contributory Negligence and Torts

Explain contributory negligence, and distinguish between conversion and detinue.

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PBL – APR 2016 – L1 – Q7 – Mortgages and Recovery Options

Explain second and sub-mortgages, and options for bank to recover defaulted loan secured by house, with recommendation

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PBL – APR 2016 – L1 – Q6 – Banker-Customer Relationship

Define a bank customer and the basic banker-customer relationship, and outline bank's rights over customer accounts.

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PBL – APR 2016 – L1 – Q5 – Private vs Public Limited Liability Companies and Conversion

State differences between private and public limited liability companies, and describe conversion from private to public.

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PBL – APR 2016 – L1 – Q4 – Executors, Administrators, and Will Revocation

State differences between executor and administrator as personal representatives of a deceased, and how a will may be revoked.

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PBL – APR 2016 – L1 – Q3 – Courts of Judicature in Ghana

Name Ghana's Superior Courts, describe the Supreme Court's original jurisdiction and when duly constituted, and explain how courts interpret constitutional provisions.

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PBL – APR 2016 – L1 – Q2 – Maxims of Equity

Examine the equity maxims: Equality is Equity, Equity will not suffer a wrong without a remedy, and He who comes into Equity must come with clean hands.

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PBL – APR 2016 – L1 – Q1 – Cheques, Crossings, Authority Revocation, and Banker’s Draft

Define a cheque, explain types of crossings and effects, list circumstances for revoking banker's authority to pay cheques, and explain why a banker's draft is not a cheque.

You're reporting an error for "PBL – APR 2016 – L1 – Q1 – Cheques, Crossings, Authority Revocation, and Banker’s Draft"

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.

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PBL – APR 2016 – L1 – Q7 – Mortgages and Default Recovery

Explain second mortgage and sub-mortgage; outline options for a bank to recover a defaulted GHS600,000 loan secured by a house and recommend one.

You're reporting an error for "PBL – APR 2016 – L1 – Q7 – Mortgages and Default Recovery"

PBL – APR 2016 – L1 – Q6 – Banker-Customer Relationship

Define a bank customer, explain the basic banker-customer relationship, and outline the rights banks have over customer accounts.

You're reporting an error for "PBL – APR 2016 – L1 – Q6 – Banker-Customer Relationship"

PBL – APR 2016 – L1 – Q5 – Private vs Public Limited Liability Companies and Conversion

Differences between a private limited liability company and a public limited liability company, and the process for converting a private company to a public one.

You're reporting an error for "PBL – APR 2016 – L1 – Q5 – Private vs Public Limited Liability Companies and Conversion"

PBL – APR 2016 – L1 – Q4 – Executors vs Administrators and Will Revocation

Differences between an executor and an administrator as personal representatives of a deceased person, and methods by which a will may be revoked.

You're reporting an error for "PBL – APR 2016 – L1 – Q4 – Executors vs Administrators and Will Revocation"

PBL – APR 2016 – L1 – Q2- Equity Maxims Examination

Examine three maxims of equity: Equality is Equity; Equity will not suffer a wrong to be without a remedy; He who comes into Equity must come with clean hands.

You're reporting an error for "PBL – APR 2016 – L1 – Q2- Equity Maxims Examination"

PBL – APR 2016 – L1 – Q1- Cheques Definition Crossings Revocation Draft

Define a cheque; explain types of crossings and effects; circumstances for revocation of banker's authority to pay cheques; why a banker's draft is not a cheque.

You're reporting an error for "PBL – APR 2016 – L1 – Q1- Cheques Definition Crossings Revocation Draft"

POB-LAW-APR-2016-L3-Q7-Guarantees and Handling Prospective Guarantors

Scenario where a customer's overdrawn account requires a guarantee from a friend/business associate who sees it as a formality and owes the principal debtor money; how to handle the situation and meeting actions, and if different if the guarantor is not a company director.

You're reporting an error for "POB-LAW-APR-2016-L3-Q7-Guarantees and Handling Prospective Guarantors"

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"

LPB – APR 2016 – L3 – Q5 – Bank’s Position on Assignment of Term Life Policy as Security

Discuss bank's position on legal assignment of a term life policy as additional security for a mortgage, how assignment is taken and priority over subsequent assignments, effect if premiums stop, payout if suicide, and differences if endowment policy.

You're reporting an error for "LPB – APR 2016 – L3 – Q5 – Bank’s Position on Assignment of Term Life Policy as Security"

LPB – APR 2016 – L3 – Q4 – Bank’s Position on Partial Cash Deposit During Robbery

Scenario involving a cash deposit partially counted before a robbery; determine bank's liability for crediting only the checked amount and if unchanged if no check occurred.

You're reporting an error for "LPB – APR 2016 – L3 – Q4 – Bank’s Position on Partial Cash Deposit During Robbery"

LPB – APR 2016 – L3 – Q2 – Duties of Power of Attorney Holder and Revocation Instances

List five legal duties imposed on the holder of a power of attorney in banking contexts; list five instances where a power of attorney is automatically revoked besides explicit cancellation by the donor.

You're reporting an error for "LPB – APR 2016 – L3 – Q2 – Duties of Power of Attorney Holder and Revocation Instances"

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