BLO 3405 Lecture Notes - Lecture 2: Overdraft, Bankruptcy Act, Fiduciary
31 Jul 2021
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Introduction: most accounts are either, current, savings or term deposits, current account payable on demand. E banking has blurred the distinction between current and savings accounts. For accounts in credit the bank is loaned funds by customer: foley v hill (1848: 1. Savings accounts: usually earn interest for customer. Term deposits are a type of savings account that require notice before a withdrawal can be made and they are normally for fixed terms: banks can and often do waive the notice requirement, accounts, current accounts. The bank has a right to charge both simple and compound interest on overdrafts: national. Bank of greece v pintos shipping co (1990) accounts. See ardern v bank of nsw (1956) (p126: accounts. Trustee holds the money or property in trust for" the beneficiary. Trustee has "legal" title to money or property which it holds in trust" or for the benefit of the.
