N. S. Toor Solutions for Chapter: Banking Law and Practice, Exercise 27: TEST YOUR SELF

What reasons should be given by the banker while returning cheques favouring an insolvent:

You are approached to allow operation in the account of an insane person. Whom would you allow the operation?

Gopi a current account customer is maintaining a current account with the bank and bank receives information regarding his insanity. As a current account in charge, what would you do:

A bank maintains a joint saving bank account in the name of Mr Dheeraj and Mr Pandey. The bank receives information that Mr Dheeraj has been adjudged as insolvent. A cheque signed by Mr Pandey is presented in a clearing. What would you do in this case?

Ram and Ravi maintain the SF account payable to former or survivor and a cheque is presented for payment by Ram after his declaration as insolvent:

Which among the following is the condition in case of insolvency which must be fulfilled when a bank's obligation to honor cheques issued by the customer, comes to an end?

Insolvency rules are governed by:

When a person is declared insolvent another person appointed to realize his assets and pay off his liabilities is known as a_____.