Lesson 12 (Banks and their customers)

Why is there no risk to the customer when a bank prints the customer’s name on his cheques?


When anyone opens a current account at a bank, he is lending the bank money, repayment of which he may demand at any time, either in cash or by drawing a cheque in favour of another person. Primarily, the banker-customer relationship is that of debtor and creditor — who is which depending on whether the customer’s account is in credit or is overdrawn. But, in addition to that basically simple concept, the bank and its customer owe a large number of obligations to one another. Many of these obligations can give in to problems and complications but a bank customer, unlike, say, a buyer of goods, cannot complain that the law is loaded against him.

The bank must obey its customer’s instructions, and not those of anyone else. When, for example, a customer first opens an account, he instructs the bank to debit his account only in respect of cheques draw by himself. He gives the bank specimens of his signature, and there is a very firm rule that the bank has no right or authority to pay out a customer’s money on a cheques on which its customer’s signature has been forged. It makes no difference that the forgery may have been a very skilful one: the bank must recognize its customer’s signature. For this reason there is no risk to the customer in the practice, adopted by banks, of printing the customer’s name on his cheques. If this facilitates forgery, it is the bank which will lose, not the customer.


  1. You got a very wonderful website, Glad I observed it through yahoo.

  2. Wonderful site you have here but I was wanting to know
    if you knew of any user discussion forums that cover the same topics discussed in this article?
    I’d really like to be a part of online community where I can get suggestions from
    other experienced individuals that share the same interest.

    If you have any recommendations, please let me know.

    Appreciate it!

  3. And emergency roadside assistance in Northeast, PA.

  4. obviously like your website however you have to test
    the spelling on quite a few of your posts. Many of them are rife with spelling problems and I in finding it very bothersome to tell the reality then again I will certainly come again again.

  5. We are your best towing firm in Atlanta.

  6. Water restoration services aren’t low cost.

  7. Some filters use more than one filtration method.

  8. We offer tow service and roadside assistance 24 hours.

  9. I would advocate crawl house restore to anybody.

  10. Is your furnace or air conditioner not working?

  11. Bitcoins simply include a string of information.

  12. Ask them if they cannot remove the mildew or mildew.

  13. Rinse with clear water and allow to dry completely.

  14. Your floor definitely needs refinishing, and soon.

  15. They will harm the finish and warp a hardwood ground.

  16. Ask them if they can’t remove the mildew or mildew.

  17. Clean mildew or mildew from leather.

  18. Chopping down timber is not as easy task.

  19. Jeny is a known expert on black mold take away.

  20. Glorioso Tree Service is a UNBELIEVABLE firm.

  21. Rinse with clean water and allow to dry totally.

  22. The newest pattern is to go for concrete flooring.

  23. Black Mould Clean up can a be a challenging job.

  24. Normally I don’t read article on blogs, but I would like to say that
    this write-up very pressured me to check
    out and do so! Your writing style has been surprised me.
    Thanks, very great article.

  25. Discover tree removal services and firms.

  26. The newest Tweets from Basement Waterproof (@UKBWA).

  27. Stable hardwood flooring is one other common choice.

  28. Mould will also be present in carpet and within the air.

  29. Rinse with clean water and permit to dry totally.

  30. Where is the roofing contractor located?

  31. Mould will also be found in carpet and in the air.

  32. HVAC repair in Dallas Fort Worth – serving DFW.

  33. Black Mildew Clean up can a be a challenging activity.

  34. Design for air-con system of a building.

  35. Find tree removal companies and corporations.

  36. Jeny is a recognized knowledgeable on black mold remove.

  37. Hardwood flooring come either unfinished or prefinished.

  38. I need services for my industrial property.

  39. Basement Waterproofing for a Healthy Dwelling.

  40. Put together the surface space for waterproofing.

  41. Rinse with clear water and allow to dry completely.

  42. Mould spores won’t survive in dry climates.

  43. Rinse with clear water and allow to dry thoroughly.

  44. You have got two alternate options when comes to waterproofing.

  45. Listed below are some suggestions to help you waterproof a basement.

  46. We provide educational and repair companies for householders.

  47. We offer instructional and repair companies for homeowners.

  48. It supplies garden options of all kinds.

  49. They offer pruning, shaping, cabling and tree care.

  50. Ordering lawn mowing companies made easy.

  51. Customized Stair and Railing Builder Beautiful.

  52. We offer instructional and restore providers for householders.

  53. They provide pruning, shaping, cabling and
    tree care.

Leave a Comment


您可以使用这些HTML标签和属性: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <s> <strike> <strong>