Bussiness

Topics: Bank, Cheque, Fractional-reserve banking Pages: 72 (24501 words) Published: June 20, 2013
MT KENYA UNIVERSITY DEPARTMENT OF FINANCE & ACCOUNTING
P.O. Box 342 THIKA, KENYA Email: info@mku.ac.ke Web: www.mku.ac.ke

Course code: DBF 121 Course Title: Banking Laws and Practice Instructional materials for distance learning students

CONTENTS CONTENTS ........................................................................................................................ ii COURSE OUTLINE ......................................................................................................... iv LESSON ONE: BANKER AND CUSTOMER RELATIONSHIP ................................... 1 1.1 The Meaning of a Bank........................................................................................... 1 1.2 The Meaning of Banking Laws............................................................................... 2 1.3 Modern Definitions ................................................................................................ 2 1.4 The Regulatory Framework .................................................................................... 3 1.5 The Meaning of a Bank Customer .......................................................................... 4 1.6 The Banker-Customer Relationship ........................................................................ 4 1.7 The Rights and Duties of a Banker ......................................................................... 6 1.8 Rights and Duties of a Customer ............................................................................ 7 1.9 Breach of Confidentiality ........................................................................................ 9 1.10 Summary ............................................................................................................... 11 1.11 Review Questions ................................................................................................. 12 1.12 References ............................................................................................................. 12 LESSON TWO: BANKING OPERATIONS ................................................................... 13 2.1 Opening and Conducting Accounts ...................................................................... 13 2.2 Completing Opening Formalities .......................................................................... 14 2.3 Delegation of Authority ........................................................................................ 15 Termination of the Bank‟s Authority to Pay......................................................... 16 2.4 2.5 Power of Attorney ................................................................................................. 18 2.6 Garnishee Orders .................................................................................................. 20 2.7 Bank as Bailee....................................................................................................... 22 2.8 Standing Orders .................................................................................................... 25 2.9 Review Questions ................................................................................................. 25 2.10 References ............................................................................................................. 26 LESSON THREE: NEGOTIABLE INSTRUMENTS ..................................................... 27 3.1 Meaning of Negotiable Instruments...................................................................... 27 3.2 Types of Negotiable Instruments .......................................................................... 28 3.3 Objectives of Crossings Cheques.......................................................................... 31 3.4 The Paying Banker ................................................................................................ 34 3.5 The Collecting Banker .......................................................................................... 36 3.6...
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