COMM 315 Study Guide - Final Guide: Standard Form Contract, Financial Statement, Punitive Damages

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Bad boy goes to bank, withdraws all 15139$ Three mandates: gma goes on extended trip, gives power of attorney for banking matters to bad. Boy, tadeusz , who can write cheques and withdraw cash for grandma"s expenses from her account: niece has mandate as executor of gma"s will (mandate only kicks in when gma dies, bank has mandate for gma"s finances. Bank had a contract with gma and acted as its agent. Grandma"s bank account summary: membership, k term deposit, k term deposit (can"t take out until 26-oct-92 or will receive no interest) Bank didn"t know gma was dead when bad boy took out funds. Was bank guilty of not [2138] exercising prudence and diligence for its. Was the bank authorized to deliver the sums deposited with it to. 4: argument: bank is a special type of agent, very strong fiduciary duties; if they have. Did the bank act with reasonable care? been defrauded, they are 100% liable.

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