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  2. Victoria University Melbourne
  3. Law of financial institution and securities (BLO3405)

Law of financial institution and securities

Victoria University Melbourne

Hier vind je de beste samenvattingen om te slagen voor Law of financial institution and securities. Er zijn o.a. samenvattingen, aantekeningen en oefenvragen beschikbaar.

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• Payment systems

  • Samenvatting

    • Payment systems

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    4
    juli 2021
    2020/2021
  • • Payment systems • Definitions • ‘Payment’ - the tender and acceptance of some act which discharges a monetary obligation • ‘Money’ – the quality of money is to attributed to all chattels which, issued by the authority of the law, and denominated with reference to a unit of account, are meant to serve as universal means of exchange in the State of issue.
  • ashekaranasinghe
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• Payment under mistake

  • Samenvatting

    • Payment under mistake

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    6
    juli 2021
    2020/2021
  • • Payment under mistake • Common payment mistakes include: • Bank pays a cheque overlooking a stop order • Bank pays a cheque mistakenly believing there are sufficient funds available • Person mistakenly pays an invoice twice
  • ashekaranasinghe
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• What is a Bill of Exchange

  • Samenvatting

    • What is a Bill of Exchange

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    5
    juli 2021
    2020/2021
  • • Mainly used in International Trade. • Known as a ‘negotiable instrument.’ • Common example is a cheque • Legislation • Bills of Exchange Act 1909
  • ashekaranasinghe
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• Cheques

  • Samenvatting

    • Cheques

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    4
    juli 2021
    2020/2021
  • • Cheques • Introduction • Electronic and card access method have largely replaced the cheque as the way to access bank accounts • Although there has been a decline in use there are still about 500,000 cheques written per day and they give rise to a number of legal issues
  • ashekaranasinghe
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Insolvency

  • Samenvatting

    Insolvency

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    1
    juli 2021
    2020/2021
  • Insolvency (a) An insolvent person or business is one that is unable to pay its debts when they fall due for payment. (b) For banks, the insolvency of their customers can be significant in terms of the ability of the customers to repay their debts.
  • ashekaranasinghe
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• DOCUMENTARY CREDITS

  • Samenvatting

    • DOCUMENTARY CREDITS

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    5
    juli 2021
    2020/2021
  • • If an Australian exporter sells goods to an overseas buyer, the following problems may arise: • The seller wishes to be paid early, the buyer wants to pay as late as possible • The seller and the buyer will be concerned of the other’s solvency • The buyer will be concerned the goods meet contract specifications
  • ashekaranasinghe
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Introduction to the Australian Banking System and Regulations

  • Samenvatting

    Introduction to the Australian Banking System and Regulations

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    2
    juli 2021
    2020/2021
  • Deregulatory steps taken since 1980's include: - removal of official controls on all bank interest rates - floating of the exchange rate and removal of exchange rate controls (1983) - entry of new players such as foreign banks and new domestic banks (1985) introduction of new system of regulation based on prudential guidelines and monitoring ( based on Wallis Report, 1997)
  • ashekaranasinghe
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• Accounts

  • Samenvatting

    • Accounts

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    5
    juli 2021
    2020/2021
  • • 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)
  • ashekaranasinghe
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Duties - Banker

  • Samenvatting

    Duties - Banker

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    6
    juli 2021
    2020/2021
  • • Introduction • The banker customer relationship creates a number of contractual duties • Most important duties of banker under the banker customer relationship are: duty to pay cheques and the duty of secrecy. • There are additional duties on the banker where additional services provided
  • ashekaranasinghe
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Lending: General principles

  • Samenvatting

    Lending: General principles

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    5
    juli 2021
    2020/2021
  • • Introduction • Lending by the banker to the customer is usual subject to a written contract • The RBA can make policy statements wrt lending practices however it is rarely used • There are different types of lending practice, and different types of borrower
  • ashekaranasinghe
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