COMM 315 Final: Cases Final

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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) Answer: bank should have been more [2138] prudent and diligent; it wasn"t prudent cash out the account, and the bank wasn"t diligent in its duty as agent to let funds be taken out before interest accrued. Bank guilty, has to pay missing funds to estate. Dr. dowell: good credit, so owns building for joseph. Notary hay-ellis: not paying attention to pay-outs for building maintenance. $ j has money, can"t go bankrupt or lose his money, so. k to notary for expenses (j really owns it, but looks like dr owns it on paper) J gets money from notary for upkeep of building. Dr worried about paying for his insurance, etc. so gives mandate to j to pay for mortgage (from dr"s money held with notary) Dr says your mandate is to make sure only administration is done.

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