Question: 1. What is the basic obligation of a depository bank to its depositor? 2. Enumerate and explain the different kinds of deposit. 3. ABC

1. What is the basic obligation of a depository bank to its depositor? 2. Enumerate and explain the different kinds of deposit. 3. ABC Bank was forced to close because its building was destroyed by fire. Mr. A, one of its depositors filed an insurance claim with the Philippine Deposit Insurance Corporation. Will the claim prosper? Answer with reasons.

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1 Even the deposit itself is a debt that the bank owes to the customer Rather than the actual funds that have been deposited bank deposits refer to this liability Legal ownership of the cash is transf... View full answer

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