The garnishee order is not applicable to:

Important Questions on Banking Law and Practice

EASY

Bihar Cooperative Bank Assistant Mains

IMPORTANT

Hand Book Of Banking Information>Chapter 4 - Banking Law and Practice>TEST YOUR SELF>Q 21

What is the relationship between court and bank in case of a garnishee order?

MEDIUM

Bihar Cooperative Bank Assistant Mains

IMPORTANT

Hand Book Of Banking Information>Chapter 4 - Banking Law and Practice>TEST YOUR SELF>Q 22

Your branch receives a garnishee order. It attaches all sums due to Mr. Ashok and Mr. Anand. There is no account at the branch in the joint names of Mr. Ashok and Anand, but they maintain their individual accounts, then_____.

MEDIUM

Bihar Cooperative Bank Assistant Mains

IMPORTANT

Hand Book Of Banking Information>Chapter 4 - Banking Law and Practice>TEST YOUR SELF>Q 23

A cheque for Rs.2000 is received for payment on a/c of Mr Arun, in a clearing. The cheque has been debited and passed but time is available for returning the cheque. During this time the garnishee order is received:

EASY

Bihar Cooperative Bank Assistant Mains

IMPORTANT

Hand Book Of Banking Information>Chapter 4 - Banking Law and Practice>TEST YOUR SELF>Q 24

A Garnishee order for Rs. 12000 is received at 12.15 p.m. in the name of Shanti Prakash, a customer of your branch. You observe that following accounts are there in the branch with which Mr Shanti Prakash is associated in case of which of these accounts, the order will apply?

HARD

Bihar Cooperative Bank Assistant Mains

IMPORTANT

Hand Book Of Banking Information>Chapter 4 - Banking Law and Practice>TEST YOUR SELF>Q 25

Your branch has granted a demand loan of Rs.60000 to Mr. Banwari Lal against his term deposit of Rs.1 lac. The branch has received a court attachment order for Rs.30000 relating to this deposit. Which of the following action should be taken by the bank:

EASY

Bihar Cooperative Bank Assistant Mains

IMPORTANT

Hand Book Of Banking Information>Chapter 4 - Banking Law and Practice>TEST YOUR SELF>Q 26

If a cheque is a market good for payment, the garnishee order or attachment order is not applicable, on the amount earmarked for payment of such cheque.

MEDIUM

Bihar Cooperative Bank Assistant Mains

IMPORTANT

Hand Book Of Banking Information>Chapter 4 - Banking Law and Practice>TEST YOUR SELF>Q 27

An attachment order is received from Income Tax Officer for attaching funds lying in saving bank account of Z. In case, the bank fails to execute this order makes payment of a cheque received after attachment order, u/s 226 (3) of Income Tax Act:

EASY

Bihar Cooperative Bank Assistant Mains

IMPORTANT

Hand Book Of Banking Information>Chapter 4 - Banking Law and Practice>TEST YOUR SELF>Q 28

Garnishee order is applicable on all sums received after receipt of order and attachment is applicable only on all sums available at the time of receipt of order.