LAW AND PRACTICE OF BANKING

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

List five duties imposed by law on the holder of a power of attorney and five instances in which a power of attorney can be revoked.

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 said bank account. The power of attorney may be special or specific (to operate the bank account or other specific powers 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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Topic: Banks and Agency, Rights and duties of principal-agent
Series: APRIL 2016

LPB – APR 2016 – L3 – Q1 – Banker-Customer Relationship and Duties

Explain the definition of a bank customer in banking law and list five duties a bank owes its customer.

Question

i. Explain what makes a person a bank’s customer in banking law terms, with reference to the Banking Act 673 of 2004, which does not define a “customer.”

ii. The opening of an account by a customer with a bank involves a contractual relationship with rights and obligations for both the bank and the customer. List five duties that a bank owes its customer.

Answer

Find Related Questions by Tags, levels, etc.

Tags: Banker Customer Definition, Banking Act 2004, Case Law, Contractual Relationship, Duties of Bank, Ghanaian Banking Regulations
Level: Level 3

Topic: The banker/customer relationship
Series: APRIL 2016

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

List five duties imposed by law on the holder of a power of attorney and five instances in which a power of attorney can be revoked.

Question

Answer

Find Related Questions by Tags, levels, etc.

Topic: Banks and Agency, Rights and duties of principal-agent
Series: APRIL 2016

LPB – APR 2016 – L3 – Q1 – Banker-Customer Relationship and Duties

Explain the definition of a bank customer in banking law and list five duties a bank owes its customer.

Question

i. Explain what makes a person a bank’s customer in banking law terms, with reference to the Banking Act 673 of 2004, which does not define a “customer.”

Answer

Find Related Questions by Tags, levels, etc.

Tags: Banker Customer Definition, Banking Act 2004, Case Law, Contractual Relationship, Duties of Bank, Ghanaian Banking Regulations
Level: Level 3

Topic: The banker/customer relationship
Series: APRIL 2016

Subject: LAW AND PRACTICE OF BANKING

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

List five duties imposed by law on the holder of a power of attorney and five instances in which a power of attorney can be revoked.

LPB – APR 2016 – L3 – Q1 – Banker-Customer Relationship and Duties

Explain the definition of a bank customer in banking law and list five duties a bank owes its customer.

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

List five duties imposed by law on the holder of a power of attorney and five instances in which a power of attorney can be revoked.

LPB – APR 2016 – L3 – Q1 – Banker-Customer Relationship and Duties

Explain the definition of a bank customer in banking law and list five duties a bank owes its customer.

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

List five duties imposed by law on the holder of a power of attorney and five instances in which a power of attorney can be revoked.

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

LPB – APR 2016 – L3 – Q1 – Banker-Customer Relationship and Duties

Explain the definition of a bank customer in banking law and list five duties a bank owes its customer.

You're reporting an error for "LPB – APR 2016 – L3 – Q1 – Banker-Customer Relationship and Duties"

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

List five duties imposed by law on the holder of a power of attorney and five instances in which a power of attorney can be revoked.

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

LPB – APR 2016 – L3 – Q1 – Banker-Customer Relationship and Duties

Explain the definition of a bank customer in banking law and list five duties a bank owes its customer.

You're reporting an error for "LPB – APR 2016 – L3 – Q1 – Banker-Customer Relationship and Duties"

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