2. Basing on your law of banking knowledge and with the help of decided cases, explain...
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2. Basing on your law of banking knowledge and with the help of decided cases, explain the consequence of the following scenarios. (Smarks each total 25 marks) a A bank paid a cheque on which the customer's signature was forged. The customer admitted to being careless in the custody of the cheque book. The customer was however not aware of the forgery. b. A bank honoured a cheque on which the customer's signature was forged. The customer knew of the loss of the cheque before the forgery happened but did not report the loss to the bank. c. A bank honoured a cheque on which the figure has been altered but the customer's signature is genuine and the alteration was not-apparent. d. A bank failed to give a reasonable notice to a customer before closing his account. e. A bank failed to honour the word of its authorised officials. 2. Basing on your law of banking knowledge and with the help of decided cases, explain the consequence of the following scenarios. (Smarks each total 25 marks) a A bank paid a cheque on which the customer's signature was forged. The customer admitted to being careless in the custody of the cheque book. The customer was however not aware of the forgery. b. A bank honoured a cheque on which the customer's signature was forged. The customer knew of the loss of the cheque before the forgery happened but did not report the loss to the bank. c. A bank honoured a cheque on which the figure has been altered but the customer's signature is genuine and the alteration was not-apparent. d. A bank failed to give a reasonable notice to a customer before closing his account. e. A bank failed to honour the word of its authorised officials.
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Answer 2 A In this case the bank has the liability to compensate for the damage ... View the full answer
Related Book For
Income Tax Fundamentals 2013
ISBN: 9781285586618
31st Edition
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
Posted Date:
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