Management and Organizational Studies 2275A/B Lecture Notes - Lecture 10: Negotiable Instrument, Online Banking, Giro

• School: Western University
• Department: Management and Organizational Studies
• Course: Management and Organizational Studies 2275A/B
• Professor: Cristin Keller

Document Summary

Understand the relationship between a business and its bank. Understand the legal issues involved in electronic banking. Understand the costs and benefits of various methods of payment. Understand the rights and obligations of those connected with negotiable instruments. When operating a business, what financial decisions with legal consequences must the owners make: financing is a major part of the business plan that the owners use to establish and operate the business. Debt financing is the subject of the next chapter. In terms of business and banking, the owners must choose a bank and the appropriate types of accounts for the needs of the business. The owners must also decide who has access to the accounts and decide what methods of paying bills and accepting payments will be used. Regulation of banks: traditionally canadian law had four distinct sectors: banks, trust companies, stockbrokerages, and insurance companies.