Question: it is Business law Instructions: Read the case study below, the answer the questions that follow In 1996 Lebanon and Egypt had signed a bilateral

it is Business law Instructions: Read the case
it is Business law
Instructions: Read the case study below, the answer the questions that follow In 1996 Lebanon and Egypt had signed a bilateral treaty for promoting investments of both citizens in both countries, article 6 of that treaty prohibits any measures on money transfer for the Lebanese citizens in Egypt and vice versa. Sami, an Egyptian citizen having investments in Lebanon deposited 3 million SUS in Bank Med, Saida branch matures on 1/1/2020. Since 17/10/2019 Lebanon have witnessed some restrictions for S withdrawals and transfers from banks due to economic and financial crisis. On 15/11/2019 Bank Med branch manager of Saida called Sami offering him to postpone the maturity date of the deposit for two more years and raised the interest rate from 10 to 15%, half paid in SUS and half paid in Lebanese Pounds. Sami refused and insisted on 20% interest, all paid in SUS and gave the bank one week to reply, after that there was no communication between both until 1/1/2020 when Sami ordered the bank to transfer the amount of deposit to his bank account in Egypt. Bank Med refused due to decree issued by the counsel of ministries restricting transfers in SUS if there was no urgent case. Also Bank Med informed Sami that they have postponed the maturity date and accepted to give Sami the 20% interest rate in SUS. Sami refused to postpone the maturity date and decided to sue the bank and claim for the deposit transfer. Question number one: (25 marks) Determine if the bank can refuse to transfer the deposit depending on the decree issued from Council of Ministers. Question number two: (25 marks) The consent can be reached in two different ways. Classify the role of the phone call between the branch manager and Sami with regard to the consent formation Question number three: (25 marks) Specify if there is any new contract concluded between the bank and Sami concerning postponement of the maturity date. Question number four: (25 marks) Sami's lawyer decided to sue the bank within the chamber of first instance court in Saida. Justify if his choice was right

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