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The nature of the relationship between the banker and customer is fundamentally one of debtor and creditor, but banks also provide other services to their customers which cannot be described in debtor-customer terms, such as the obligation of the bank to honour cheques and payment instructions, and to collect sums paid into the account by way ...
Foley v Hill (1848) 2 HLC 28, 9 ER 1002 is a judicial decision of the House of Lords in relation to the fundamental nature of a bank account. Together with Joachimson v Swiss Bank Corporation [1921] 3 KB 110 it forms part of the foundational cases relating to English banking law and the nature of a bank's relationship with its customer in relation to the account.
Barclays Bank plc v Quincecare Ltd [1992] 4 All ER 363 is a judicial decision of the High Court of Justice of England and Wales in relation to the banker-customer relationship, and in particular in connection with the bank's duties in relation to payment instructions from a customer's agent or purported agent which give rise, or ought to give rise, to a suspicion of fraud.
The precise effect of a banker's lien varies according to the laws of a particular jurisdiction. Under English common law it applies to all property coming into the possession of the bank in the usual course of banking business, [1] subject to the important exception that it does not apply to property which is deposited with the bank for safe ...
Mr. Clayton had an account with a banking firm, Devaynes, Dawes, Noble, and Co, that was a partnership rather than a joint stock company as modern banks almost always are. The bank's partners were therefore personally liable for the debts of the bank. One of the partners, William Devaynes, died in 1809. [1] The amount then due to Clayton was £ ...
Tournier v National Provincial and Union Bank of England [1924] 1 KB 461 was a landmark legal case in the United Kingdom.The lead decision was given by Bankes LJ.. It established the conditions under which banks owed confidentiality to their clients, allowing four circumstances wherein banks were not required to guard privacy: where compelled by (1) law, (2) public duty, (3) the interest of ...
The law implies rights and obligations into this relationship as follows: The bank account balance is the financial position between the bank and the customer: when the account is in credit, the bank owes the balance to the customer; when the account is overdrawn, the customer owes the balance to the bank.
German case law indicates that the relationship between the issuing bank and customer is a contract for execution of a transaction, while the relationship between the issuing bank and the beneficiary is a promise of a debt. [28]