Rights Of A Banker
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BANKING LAW
1. Rights of a Banker;
Banker’:-
* Right of lien * Right to set off * Right of appropriation of payments.
2. Banker Regarded As A Favoured Debtor lll A
CONTENT 1. Right of lien………………………………………………………………………pages 3-9 a. Introduction -what is lien? b. Types of lien c. Circumstances for exercising banker’s general lien d. Lien - an implied pledge e. Case laws f. Principles governing banker’s lien g. When is lien not permissible 2. Right of set-off……………………………………………………………………pages 10-13 h. Introduction i. Conditions necessary to set-off (ingredients of set-off) j. Automatic right of set off k. Right of set off in the case of; l. Relationship between lien and set-off 3. Right for appropriation of payment……………………………………………..pages 14-17 m. Introduction n. Appropriation by the debtor o. Appropriation by the creditor p. Appropriation by law where neither party appropriates 4. Banker Regarded As A Favoured Debtor……………………………………….pages 18-20 q. Relation of a debtor and a creditor r. General obligations of banker towards customer 5. Conclusion……………………………………………………………………… page 20 6. Bibliography……………………………………………………………………..page 21
RIGHT OF LIEN * INTRODUCTION -WHAT IS LIEN?
A lien is the right of a creditor in possession of goods, securities or any other assets belonging to the debtor to retain them until the debt is repaid, provided that there is no contract express or implied, to the contrary. It is a right to retain possession of specific goods or securities or other movables of which the ownership vests in some other person and the possession can be retained till the owner discharges the debt or obligation to the possessor.
In Halsbury’s Laws of England, it is stated: "Lien is, in its primary sense, a right in one man to retain that which is in his possession belonging to another until certain demands of the person in
BANKING LAW
1. Rights of a Banker;
Banker’:-
* Right of lien * Right to set off * Right of appropriation of payments.
2. Banker Regarded As A Favoured Debtor lll A
CONTENT 1. Right of lien………………………………………………………………………pages 3-9 a. Introduction -what is lien? b. Types of lien c. Circumstances for exercising banker’s general lien d. Lien - an implied pledge e. Case laws f. Principles governing banker’s lien g. When is lien not permissible 2. Right of set-off……………………………………………………………………pages 10-13 h. Introduction i. Conditions necessary to set-off (ingredients of set-off) j. Automatic right of set off k. Right of set off in the case of; l. Relationship between lien and set-off 3. Right for appropriation of payment……………………………………………..pages 14-17 m. Introduction n. Appropriation by the debtor o. Appropriation by the creditor p. Appropriation by law where neither party appropriates 4. Banker Regarded As A Favoured Debtor……………………………………….pages 18-20 q. Relation of a debtor and a creditor r. General obligations of banker towards customer 5. Conclusion……………………………………………………………………… page 20 6. Bibliography……………………………………………………………………..page 21
RIGHT OF LIEN * INTRODUCTION -WHAT IS LIEN?
A lien is the right of a creditor in possession of goods, securities or any other assets belonging to the debtor to retain them until the debt is repaid, provided that there is no contract express or implied, to the contrary. It is a right to retain possession of specific goods or securities or other movables of which the ownership vests in some other person and the possession can be retained till the owner discharges the debt or obligation to the possessor.
In Halsbury’s Laws of England, it is stated: "Lien is, in its primary sense, a right in one man to retain that which is in his possession belonging to another until certain demands of the person in