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NatalieR answered the question on February 22, 2022 at 07:38
- Tracy, June and Jim are partners in a firm known as Uperion. They operate a jointaccount with a joint and several liability mandate with...(Solved)
Tracy, June and Jim are partners in a firm known as Uperion. They operate a joint
account with a joint and several liability mandate with your bank. Two months ago, you
were notified that Tracy was admitted at a mental hospital. A month later you received
another notice informing you that June had retired from the partnership. Jim and Bob
wish to include Grace as a new partner. Explain the effect of each of the following in the
operation of the partnership account.
(i) Tracy's lunacy
(ii) June's retirement.
Date posted: February 15, 2022. Answers (1)
- Briefly write short notes on Joint Accounts(Solved)
Briefly write short notes on Joint Accounts
Date posted: February 15, 2022. Answers (1)
- Write brief notes on a minor as an account holder, as a member of a partnership and as a joint account holder(Solved)
Write brief notes on a minor as an account holder, as a member of a partnership and as a joint account holder
Date posted: February 15, 2022. Answers (1)
- Distinguish between a holder, a holder for value and a holder in due course.(Solved)
Distinguish between a holder, a holder for value and a holder in due course.
Date posted: February 15, 2022. Answers (1)
- List several instances where banks have been held negligent when collecting cheques(Solved)
List several instances where banks have been held negligent when collecting cheques
Date posted: February 15, 2022. Answers (1)
- Define the term Endorsement and outline types of Endorsement giving examples in each.(Solved)
Define the term Endorsement and outline types of Endorsement giving examples in each.
Date posted: February 15, 2022. Answers (1)
- In which ways does crossing a cheque protect the drawer?(Solved)
In which ways does crossing a cheque protect the drawer?
Date posted: February 15, 2022. Answers (1)
- A cheque is a bill of exchange drawn on a specified banker and not expressed to be
payable otherwise than on demand. Discuss 4 different types...(Solved)
A cheque is a bill of exchange drawn on a specified banker and not expressed to be
payable otherwise than on demand. Discuss 4 different types of cheques
Date posted: February 15, 2022. Answers (1)
- Briefly Outline Features of a cheque(Solved)
Briefly Outline Features of a cheque
Date posted: February 15, 2022. Answers (1)
- Write short note on Types of Negotiable Instruments.(Solved)
Write short note on Types of Negotiable Instruments.
Date posted: February 15, 2022. Answers (1)
- Why are references required when opening an account?(Solved)
Why are references required when opening an account?
Date posted: February 15, 2022. Answers (1)
- Distinguish between a gratuitous bailee and a bailee for reward. (Solved)
Distinguish between a gratuitous bailee and a bailee for reward.
Date posted: February 15, 2022. Answers (1)
- List circumstance where a banker must cease to honor customers cheque on presentation(Solved)
List circumstance where a banker must cease to honor customers cheque on presentation.
Date posted: February 15, 2022. Answers (1)
- The creation of bailor/bailee relationship arises where a person called the bailee is given
control of the property of another person called bailor for a specific...(Solved)
The creation of bailor/bailee relationship arises where a person called the bailee is given
control of the property of another person called bailor for a specific purpose e.g., where a
customer of a bank deposits valuables in safe custody with the intention that on request
they will be returned to him/her. However, whether a banker is a bailee for reward or for free he/she must take the highest standard of care expected from person undertaking business of banking. Briefly explain the Liability attaching to bailee.
Date posted: February 15, 2022. Answers (1)
- Discuss Bank’s procedure on receipt of order or summons from high court.(Hint: Summon is also known as garnishee order)(Solved)
Discuss Bank’s procedure on receipt of order or summons from high court.(Hint: Summon is also known as garnishee order)
Date posted: February 15, 2022. Answers (1)
- In which ways may revocation/determination occur in the Power of attorney?(Solved)
In which ways may revocation/determination occur in the Power of attorney?
Date posted: February 15, 2022. Answers (1)
- Identify forms of Power of Attorney(Solved)
Identify forms of Power of Attorney
Date posted: February 15, 2022. Answers (1)
- Highlight circumstances for termination of the bank's authority to pay(Solved)
Highlight circumstances for termination of the bank's authority to pay
Date posted: February 14, 2022. Answers (1)
- Highlight the particulars required in opening and Conducting Bank accounts(Solved)
Highlight the particulars required in opening and Conducting Bank accounts
Date posted: February 14, 2022. Answers (1)
- Define the term Power of Attorney(Solved)
Define the term Power of Attorney
Date posted: February 14, 2022. Answers (1)