1.1 Introduction Modern commercial banking‚ in its present form‚ is of recent origin. Though bank is considered to be an ancient institution just like money. Its evolution can be traced in the functions of money lender‚ the goldsmiths and the merchants. A bank has been often described as an institution engaged in accepting of deposits and granting loans. It can also be described as an institution which borrows idle resources‚ makes funds available to. It does not refer only to a place of tending
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direction of courts when imposing a constructive trust upon a trustee de son tort. Constructive Trustee Constructive trusts are not confined to one definition. They are comprised of all trusts recognized and enforced by the courts that either resulting or express trusts. Express trusts are trusts are a design of the real intention of the parties however constructive trusts are ‘invitum’ (against the will or consent of the party) Constructive trusts are usually the result of gross violation of a
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issues in this appeal. The first is concerned with the nature of the so-called “Quistclose trust” and the requirements for its creation. The second arises only if the first is answered adversely to the appellant. It is whether his conduct renders him liable for having assisted in a breach of trust.” Lord Millett in Twinsectra Ltd v Yardley and Others [2002] 2 AC 164 at paragraph 52. Critically analyse Lord Millett’s
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COURT OF APPEAL Slater v Clay Cross Co Ltd [1956] 2 QB 264 Full text 17 May 1956 DENNING LJ: In Derbyshire there has been for well over a hundred years a railway line owned by the defendants. We were told that George Stephenson himself made it. The defendants use it so as to carry limestone from their quarries at Crich down to Ambergate. It is a small gauge line‚ only three feet‚ three inches wide‚ and is 2 1/2 miles long. On that small line there are two tunnels. One of them‚ with which we
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The revolution in the Arab world unfolded exquisitely but with dramatic repercussions. High unemployment rates‚ the oppression of political freedoms‚ and the overwhelming presence of corruption led to a rise in unrest amongst many in the Arab world -- which set off a domino effect amongst states in a fight for democracy at home. It all began in Tunisia in December 2010‚ and quickly escalated into a campaign for change that would reach across the region‚ and move the world. By the time the conflict
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The Impacts of the Arab Revolution: The 2011 Arab revolutions are best described as uprisings for democracy and dignity. They are democratic in the sense that they are driven by a deep-rooted hunger for political empowerment on a mass level‚ specifically the replacement of elite rule with popular sovereignty. They are also about dignity in that the protesters are rejecting the humiliation and degradation that has accompanied decades of authoritarian rule. The indignity brought on by massive corruption
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Bibliography: Books 1. Maxims in Law and Equity: Comprising Noy ’s Maxims‚ Francis ’s 2. The Principles of Equity and Trusts‚ Graham Virgo 3. Equity and trusts ‚ Alastair Hudson Web pages 1. http://www.slideshare.net/AhmadFarouqAmir/maxims-of-equity-12621279 2. http://en.wikipedia.org/wiki/Maxims_of_equity 3. http://notes-law.blogspot.com/2008/08/maxims-of-equity.html
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Foreign trade financing is an integral part of banking business. Documentary Credit (also called letters of credit or “L/Cs”) is the key player in the foreign exchange business. With the globalization of economies international trade has become quite competitive. Timely payment for exports and quicker delivery of goods is‚ therefore‚ a pre-requisite for successful international trade operations. Growing complexity of international trade‚ separation of commercial parties across the globe and operating
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Faverty v McDonald’s Restaurants of Oregon‚ Inc. 892 P.2D 703 (CT. APP. OR. 1995) Facts: Matt Theurer was an 18 year old adult that worked at McDonald’s part time. His friends and family worried about him because he had many extra-curricular activities‚ worked for the National Guard‚ and worked for McDonalds. McDonald’s informal policy did not allow high school students to work more than one midnight shift per week or split shifts. There was a special clean-up week McDonald’s held‚ Theurer worked
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of Cases Anisminic Ltd V Foreign Compensation Commission (1969) 2 AC 147‚ (1969) 2 WLR 163....................................................................................................1 Craig v The State of South Australia (1995) 184 CLR 163 at 179.....................11 Ridge v Baldwin (1961) 2 All E.R. 523: (1961) 2 WLR 1054………………….6 R. V. Northumberland Compensation Appeal Tribunal‚ ex P. Shaw (1951) 1 K.B. 711: (1952) 1 K.B. 338…………………………………………………...13 Saluwa v Kabir (2011) 1 NWLR (pt
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