N. S. Toor Solutions for Chapter: Banking Law and Practice, Exercise 20: TEST YOUR SELF

In case a minor is appointed as a nominee for a term deposit which is yet to mature and death of the depositor takes place, which of the following would be possible:

Usually a loan obtained by a minor cannot be recovered but when it is given for his necessity, the loan can be recovered from his property. This provision is contained as per:

Ram Kumar, a Hindu and father of minor Sham Kumar converts himself to a Mohammandan called Abdul Hamid. What is his status as a guardian:

Who is the guardian of a Muslim Minor on death of the father:

J. Singh, approaches you to open a saving bank account in the name of his grand son under his guardianship. Which among the following precautions will be taken by the bank?

IBA's Model Deposit Policy allows banks to open only saving bank account of the minor.

Which of the following statement is not correct regarding a minor:

Mr. Seth has been sanctioned an overdraft limit of Rs. $5$ lakh for his proprietorship firm. He has been called to the bank to execute the documents. However, he sends his $16$ years old son along with a power of attorney to sign the documents as he had to suddenly go out of the country for $2$ months. What the bank would do?