Legal nature of a cheque

Paciocco v Australia and New Zealand Banking Group Limited [2014] FCA 35 (5 February 2014) Para 93 The issue of a cheque by a customer, or the giving of a payment instruction or withdrawal request to its bank, which would have the effect of overdrawing a customer’s account, is construed as a request by the […]

Legal nature of a deposit

Paciocco v Australia and New Zealand Banking Group Limited [2014] FCA 35 (5 February 2014) Para 93 A savings or deposit account is in law a loan to the banker: Pearce v Creswick [1843] EngR 304; (1843) 2 Hare 286; Dixon v Bank of New South Wales [1896] NSWLawRp 103; (1896) 17 LR (NSW) Eq […]

Relationship between a banker and a customer

Paciocco v Australia and New Zealand Banking Group Limited [2014] FCA 35 (5 February 2014) However, as part of the wider framework, reference also must be made to the established principles concerning the relationship of banks and their customers. These were summarised in Andrews Trial at [81]-[82] (see also BMP Global Distribution Inc v Bank […]