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 […]
Read MoreRelationship 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 […]
Read More
Failure to pass a Standard does not of itself establish negligence
Garrett v Hills Industries [2006] QDC 299 – Even if a device of product failed to pass all relevant tests of the Australian standard, this would not, of itself, establish negligence: O’Connor v Hansen Wilckens Hornibook Constructions Ltd (1968) 42 ALJR 239; Crisa v John Shearer Ltd (1981) 27 SASR 422 at 428. Failure to follow […]
Read MoreTrustee duties – general law and superannuation law
No different approach has been taken: see Re Application of HIH Superannuation Ltd [2003] NSWSC 65; Breckler at 109-110 ([41]); Kowalski v MMAL Staff Superannuation Fund Pty Ltd (No 2) [2008] FCA 691 at [21]– [25]; Telstra Super Pty Ltd v Finch [2009] VSCA 318 at [65]; and J C Campbell, ‘Exercise by Superannuation Trustees […]
Read More
