Muriuki, Jane, and Ochuodho are trustees of a trust account at Sidian Bank. Today they visited the bank so that they could be given an advance of Kshs. 2.5 million for their personal use. Explain the banking principles applicable in this case. (10 marks)

a) Walubengo is a Kenyan Golf player, who deposited a silver trophy she won in a competition for safe custody with KCB bank.

i) Explain the kind of banker-customer relationship established.

ii) Explain the two possible breaches that the bank should avoid in regard.

Answer rating: 100% (QA)

For the first scenario when Muriuki Jane and Ochuodho visited Sidian Bank to request an advance of K... View the full answer