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7.11 Dividend Account
7.12 Collection Account
7.13 Dormant Account
7.14 Deceased Account and Closing of Accounts
Q.2 Please write the alphabet of selected answer in the column. (10) (Summer-2006)
ix. A banker may close account of a customer
A) any time it likes to close
B) must give notice of reasonable time
C) cannot close unless the customer agrees to
D) none of the above
Q.3 State True or False give brief reason for your selection (30) (Winter-2006)
xxx An obituary is sufficient proof of a customerâs death for the banker.
Q.4 State âYesâ or âNoâ give brief reason for your selection at the space provided below the question. (10) Summer-2006
i. Bank can close the account of an undesirable customer on its sole discretion without giving any notice.
7.15 Statements of account
V. Payment and Collection of Cheques
Payment of cheques --- banker's obligation to pay his customer's cheques; conditions precedent to payment of cheques; payment of open cheques; determination of banker's authority to pay cheques; statutory protection to paying banker -- payment in due course; mutilated cheques; material alteration; money paid by mistake - conditions of recovery; crossings, indorsements and discharge. Payment made to the bank under mistake; validity of statement of account - over-debiting, over-crediting; wrongful dishonor; answers on dishonored cheques; notice of dishonor; forgeries; other instruments analogous to cheques - bank draft, payment order, dividend warrant. Collection of cheques --- banker's obligation to collect cheques; statutory protection to the collecting bank; collecting bank as holder for value; duties of collecting bank; collecting bank and negligence; conversion.
Q.2 Please write the alphabet of selected answer in the given space (20) (Winter-2006)
xvii The term âconversionâ implies
A) A conversion of order instrument into bearer.
B) Conversion of general crossing into special crossing.
C) Collection of cheques in an un-introduced account.
D) Depriving the true owner of his rights to the cheque.
7.11 Dividend Account
7.12 Collection Account
7.13 Dormant Account
7.14 Deceased Account and Closing of Accounts
Q.2 Please write the alphabet of selected answer in the column. (10) (Summer-2006)
ix. A banker may close account of a customer
A) any time it likes to close
B) must give notice of reasonable time
C) cannot close unless the customer agrees to
D) none of the above
Q.3 State True or False give brief reason for your selection (30) (Winter-2006)
xxx An obituary is sufficient proof of a customerâs death for the banker.
Q.4 State âYesâ or âNoâ give brief reason for your selection at the space provided below the question. (10) Summer-2006
i. Bank can close the account of an undesirable customer on its sole discretion without giving any notice.
7.15 Statements of account
V. Payment and Collection of Cheques
Payment of cheques --- banker's obligation to pay his customer's cheques; conditions precedent to payment of cheques; payment of open cheques; determination of banker's authority to pay cheques; statutory protection to paying banker -- payment in due course; mutilated cheques; material alteration; money paid by mistake - conditions of recovery; crossings, indorsements and discharge. Payment made to the bank under mistake; validity of statement of account - over-debiting, over-crediting; wrongful dishonor; answers on dishonored cheques; notice of dishonor; forgeries; other instruments analogous to cheques - bank draft, payment order, dividend warrant. Collection of cheques --- banker's obligation to collect cheques; statutory protection to the collecting bank; collecting bank as holder for value; duties of collecting bank; collecting bank and negligence; conversion.
Q.2 Please write the alphabet of selected answer in the given space (20) (Winter-2006)
xvii The term âconversionâ implies
A) A conversion of order instrument into bearer.
B) Conversion of general crossing into special crossing.
C) Collection of cheques in an un-introduced account.
D) Depriving the true owner of his rights to the cheque.
