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  Item Reference: KCLCAL-1896-1897-753

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GI LB ART LECTURES ON BANKING clxiU Gt'Hmrt Hcdmcs on lia lifting By fraud obtains from Β crossed cheques drawn by Β payable to or order is an imaginary person but Β believes him to be real endorses them in the name of and transfers them to who takes them bond fide and for value Β obtains payment of them from B's bankers Has Β any and if so what remedy against At 11 banker on behalf of customer pays to due order bill at months date At the same day thc ן י banker discovers that the endorsement under which held was forged had taken the bill bona fide before it was due and for value and presented it in good faith Discuss the banker's position In 1893 you advanced customer £1 000 on loan account for which he deposited security but with no special agreement At the same time he opened current account with you The two accounts have always been kept separate In 1896 you discover that the security has fallen in value since deposited and is now only worth £500 The customer has £250 to his credit on current account What β course should you pursue and why An uncrossed cheque is sent to bank by customer for collection What is the effect of the bankis stamping its name across the face of the cheque before passing it through the Clearing House London February 20ίΛ 1896 To the Bank Pay to or order the sum ei £ψο this cheque being presented within six monthsynOin lie date of issue together with the receipt below duiy sieved and dated divicle71d on £100 or the Company Ld CD Secretary Received the off£h in respect of half-year's Signature Date Comment on the above document
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