Precautions to be taken by the Banker and the Customer : 1. The Pass Book must be sent by the customer to the bank periodically and regularly for recording the necessary […]
Banking Law - 39. page
Garnishee Order
Garnishee Order : The obligation of a banker to honour his customer’s cheques is extinguished on receipt of an order of the Court, known as the Garnishee order, issued under Order […]
Obligations to honour the cheques
Obligations to honour the cheques : The deposits accepted by a banker are his liabilities repayable on demand or otherwise. The banker is, therefore, under a statutory obligation to honour his […]
PASS BOOK AND STATEMENT OF ACCOUNT
PASS BOOK AND STATEMENT OF ACCOUNT : Though the Pass Book contains true and authenticated record of the customer’s account with the banker, no unanimous view prevails regarding the validity of […]
Effect of Entries to the Advantage of the Customer
Effect of Entries to the Advantage of the Customer : The account of a customer may sometimes wrongly show a credit balance, which is larger than the correct balance because of […]
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