Banker's liabilities : the law and suggested practices

Abstract

The increasing complexity of the Banking environment requires both banking student and it is believed, the banker too have an understanding of the liabilities that the banker can be subjected. to. This will enable banking business to be conducted effectively within the law. This project is concerned with the law and practices relating to banker's liabilities. The introductory part covers the nature and creation of the banker-customer relationship and how the relationship is terminated. The paying and collecting bankers' liabilities and their protection under the various circumstances will be discussed next. Consideration will also be given to the banker's duty of secrecy to render advice and furnish references. The actual practices of the bankers are also studied before a general conclusion is drawn. The sources of information are library materials. These include case reports, books, journals and statutes. In addition, interviews were also conducted with employees of Standard Chartered Bank, Post Office Savings Bank, POSB Credit and another leading bank.