📝 One-liners · 66 cards
BANKER's CUSTOMER RELATIONSHIP
Who is considered a 'customer' of a bank for legal purposes?
A person who has an account with the bank or avails banking services habitually; even a single transaction can establish the relationship if it is of a banking nature.
What is the relationship between a bank and customer when the bank collects cheques on behalf of the customer?
Bank acts as an agent of the customer.
What is the primary legal relationship between a banker and a customer when a deposit is made?
The relationship is that of debtor and creditor, where the bank is the debtor and the customer is the creditor, since the bank borrows money from the customer.
What type of relationship exists between a bank and customer in a locker facility?
Banker is a licensor and customer is a licensee.
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